Abu Dhabi-based Cristal Hotels and Resorts will open its new branch office in Lebanon in February after signing a deal with two new partners, businessmen Elias Badr and Edmond Marjaba, with a hotel opening to follow.
The branch is the first stage on its expansion and development initiative in the Levant region, where it expects to add 10 properties to its portfolio in the next five years. It currently has two hotels, both in Abu Dhabi – Cristal Hotel Abu Dhabi and Cristal Salam Hotel
Peter Blackburn, company president and CEO, said: “While the global economy seems to show a recovery and the climate for interest in hotel looks encouraging, we are pleased that Cristal Group development pipeline is filled with potential growth for the company. We are confident of meeting the hospitality needs across all segments of travellers within this region and we are looking forward to start our new projects in Lebanon, Syria and Jordan, which will be great additions to our existing portfolio of hotels in the UAE.”
He added: “Being able to cement our leadership position in the region with the opening of our new office in Lebanon is very gratifying and we are most grateful to our partners that continue to entrust their hotel assets to the Cristal Group for enabling this stellar performance.
“Adding this number of hotels to the network in the coming years has required us to invest significantly in our regional infrastructure to support both the new hotel openings as well as the existing hotels and in doing so ensuring our ability to sustain similar growth in the coming years.”
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