Hotels operated by HMH – Hospitality Management Holding in the UAE exceeded expectations with an outstanding year-to-date performance. While Bahi Ajman Palace Hotel recorded an impressive 23 per cent growth in revenue, Coral Beach Resort Sharjah and Coral Dubai Deira averaged between 5 to 10 per cent increase in revenue year on year.
Ferghal Purcell, COO of HMH, attributes this exceptional performance to a diversified and balanced business mix, as well as an increase in the wholesale business. Purcell said, “We have been witnessing extremely positive trends with certain markets performing better than expected. There has been a very strong return of the wholesale market from the CIS and Europe including the Nordic and Baltic States, which helped boost the numbers. In addition, the GCC market remains very strong with very successful school holiday periods”.
Highlighting the significance of tapping diverse market segments, Purcell added, “Appropriately, a diversified and an optimal business mix enabled us to drive improved revenue and profit outcomes. Our strategy has been to drive business across all verticals that has given us a steady mix of corporate, long-stay, leisure, e-commerce and FIT segment; which in turn has kept our figures firm.”
All hotels under HMH enjoy superb locations and are in close proximity to key commercial and leisure attractions in Dubai, Sharjah and Ajman. Talking about the upcoming months, Purcell stressed, “In terms of the future, we remain extremely bullish, as we try to maximize profits. To sustain our growth in a highly competitive environment, it is absolutely essential to have a stronger grip on our business. Besides existing markets, in-bound tourism to the Middle East from emerging markets is also growing rapidly and consistently, thanks to the vast global airline network, growth of low-cost carriers, outstanding communication services, etc. It represents undeniable opportunities for our brands as we are seeing a sizeable increase in the number of guests from emerging markets.”
Founded in 2003 in Dubai, HMH – Hospitality Management Holding is a fully integrated hotel management company that prides itself for being one of the pioneers among local groups that are specialized in the dry segment. Being the largest operator in the sector within the region, HMH provides hotel owners and developers a broad spectrum of world-class management solutions with five distinct, yet complementary, hotel brands catering to varied market segments from luxury to budget. These include Bahi Ajman Palace Hotel, Coral Hotels & Resorts, Corp Hotels, EWA Hotel Apartments and ECOS Hotels.
HMH’s strategic expansion in the Middle East and North Africa has been successful in unlocking a world of opportunities while creating value for its stakeholders, associates, staff members and customers. The existing portfolio is located in some of the most desirable destinations across the MENA region, with a pipeline of hotels under development to grow HMH’s regional footprint even further.