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HMH to Launch Budget Hotel Chain in Middle East

Home Search Send to Friend Latest Travel News Asia Thursday, 8 May 2014
 

HMH - Hospitality Management Holdings is entering the budget hotel market with Ecos Hotels, a 'no frills' brand.

 Laurent A. Voivenel, CEO, HMH, said, "We are eager to penetrate the largely untapped market for mid-scale and economy hotels in the region with Ecos Hotels that ties together a unique economical and ecological concept. To start with we have three different projects under consideration in the UAE and the first of these will be developed in Dubai. Ecos will serve as the ideal address for savvy budget conscious business and leisure travellers looking for quality in terms of basics such as a good bed, shower and breakfast."

Dubai has given a tax reprieve to investors developing mid-market hotels by exempting eligible hotels from 10% municipality fee levied on the daily room rate for a period of four years if the construction permit is granted between 1 October 2013 and 31 December 2017. The emirate is expected to have 2,443 economy hotel rooms by 2017 in addition to those planned and under construction.

"The region is seeing phenomenal growth in stopover traffic, rapidly expanding low-cost carriers, inter-regional travel, increased airport capacity and a growing middle class that is fueling the demand for budget hotels. In addition, a lot of local and international companies are cutting down on their annual travelling budgets and seeking affordable accommodation. However, existing hotel stock in the Middle East, including the UAE, is predominantly geared towards luxury and up-market accommodation leaving a huge gap and opportunity for budget hotels that we are keen to develop," said Laurent.

The number of visitors travelling to the Middle East is projected to double reaching 136 million by 2020 compared to 54 million in 2008.


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