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Sobha Group to enter the Hospitality sector
Tuesday, May 27, 2008

India and Dubai real estate company Sobha Group is preparing to build and operate a chain of hotel properties across the Sub Continent, Middle East and East Africa. The Group has plans to develop at least 10 five-star properties in the next five years, with two hotels earmarked for Dubai, six for India, and one each in Oman and Zanzibar.

Sobha Hotels will benchmark against the best resort properties and luxury hotels in the region, according to Ajay Rajendran, Vice Chairman, Sobha Group.

We have been outfitting palace interiors for a long time and know all about creating high-end interiors. Our hands on experience in the residential and commercial buildings, their planning and building maintenance has given us adequate exposure to Build and operate concept of Project Management. It is now our aim to transfer our expertise to the hospitality sector, to create a chain of five-star properties under the brand Sobha Hotels” Ajay Rajendran said.

“Sobha Group is all about high quality finishes and on-time completion. These pillars, coupled with Sobha’s unique service delivery, will make Sobha Hotels an international-standard chain with a very local flavour,” he added.

Sobha Group will own, develop and operate all Sobha Hotels. The first Sobha Hotels property is expected to open in 2010. The Group has plans to develop a portfolio of 2,500 rooms.

Michael Verikios - Tuesday, May 27, 2008
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Poll
How do you expect luxury travel to perform in times of economic downturn?.

Providers of luxury travel products are going to witness shorter stays by their customers and an increase in seasonality.

People are going to become more value conscious and will opt for those luxury offers that represent a convincing value-for-money proposition. Providers of overpriced services are those to feel the pinch.

Both people paying for their personal trips and firms paying for their top executives' business trips will cut back on travel expenses, thus affecting all luxury travel providers.

It is going to be business as usual. Those people opting for high-end travel products are not going to be affected by the looming crisis.

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