Challenging times
Having debuted with a UAE property, One to One then moved its focus further afield to Lebanon, Morocco and Thailand, where the company runs Sunset Hill Boutique Koh Phangan, rather than growing into the nearby markets of Dubai, Qatar and Saudi Arabia.
According to Harb, the group is now “negotiating two more properties in Thailand and one in Morocco” and has two pipeline properties in Lebanon, including a 250-key Wellness Resort planned for 2016. However, he admits that going forward, “Lebanon is off-target”, due to performance falling below expectations at the existing properties.
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Having recently appointed a business development manager to oversee Morocco, expansion is probable for that area, and already there is one hotel confirmed opening for 2015. The One to One Marina Beach Wellness Resort, Tétouan, Morrocco will fall under the Wellness Resort brand, and with 200 keys, will be the largest of the company’s properties.
Saying this, the UAE is still on Harb’s wish list for further growth, although he reveals the company “hasn’t signed any Memorandums of Understanding” and is “still in the negotiating process”.
“We understand that to come to Dubai and get a prime location you need to have a capital base,” he says, adding that the company is “trying [its] best”.
“We are looking at hotels in Dubai but all the big international chains want to be in Dubai so for us it’s a bit hard. We’re always negotiating properties in Dubai though so it could be any time; a year, two years maximum.”
As owners of its Al Ain and Abu Dhabi properties as well as the operators, however, Harb believes this gives One to One Hotels & Resorts increased leverage for growth, especially in the UAE.
“We’re already in Abu Dhabi and I wouldn’t say it’s challenging, and we have no problem expanding further there. By doing that we’re going to gain market share in assets in Dubai and Abu Dhabi, because more rooms are needed there,” he comments. “In the Middle East we have no boundaries at all.”