Abu Dhabi’s Cristal Hotels and Resorts is planning to open 25 new hotels across GCC and Asia over the next five years including a new three star budget hotel concept focused on business travelers. The hotelier’s CEO, Peter Blackburn, said “We have zeroed in on these two regions because we believe the Middle East and Asia are the only markets still booming in these recessionary times.” He said the economies in the US and Europe have taken quite a beating in comparison.
Seba Properties developed the three star hotel brand concept. This hotelier operates a four star hotel in the capital’s business district and is ready to expand in Saudi Arabia, beginning with Riyadh, Jeddah and Mecca, followed by Qatar. Mr. Blackburn said it is still too soon to know the number of rooms opening in Saudi Arabia or the investment plan but the average cost of the hotels is about Dh750,000 per key.
