News for the Hospitality Executive
CHEVY CHASE, Md., June 9, 2011 - The Ritz-Carlton Hotel Company, L.L.C. has announced a major expansion and development initiative which it expects will bring the total number of properties in their portfolio to over 100 around the world by 2016. Ranging from Morocco to Mexico, Cairo to Chicago, this strategic plan will expand the brand to urban capitals and emerging tourist destinations, and represents an investment of more than $2 billion by owners.
"While the global economy seems to show a recovery and the climate for interest in hotel and residential development looks encouraging, we are pleased that The Ritz-Carlton development pipeline is filled with potential international growth for the company," said Herve Humler, president and chief operations officer. "Throughout the world, especially in Asia and the Middle East, we expect to be the leading top tier luxury hospitality and lifestyle brand by 2016," Humler predicted.
In only the first quarter of 2011, The Ritz-Carlton has already opened three iconic properties, including The Ritz-Carlton, Hong Kong - the world's highest hotel, The Ritz-Carlton, Toronto (Canada) and The Ritz-Carlton, Dubai International Financial Centre. By the end of the year, hotels including The Ritz-Carlton, Riyadh (Saudi Arabia), The Ritz-Carlton Abu Dhabi, Grand Canal (United Arab Emirates), and The Ritz-Carlton Residences in Toronto and Singapore are scheduled to debut.
This will be followed in 2012 by a record number of anticipated new openings including Chengdu (China); Herzliya (Israel); Rancho Mirage (California); and an expansion of The Ritz-Carlton, Dubai (United Arab Emirates). Two more Ritz-Carlton residential projects are scheduled be added in Chicago and Montreal.
Also in 2012, The Ritz-Carlton, Montreal—an historic landmark in the city's downtown—plans to become a "partner hotel." Under this agreement, The Ritz-Carlton Hotel Company will provide sales and marketing support for the iconic, independent hotel.
The third Bulgari branded hotel is slated to open in London, joining two other locations in Milan and Bali. "We are proud of our continued arrangement with Bulgari. Each of these hotels have been among the most elite in the world, attracting a distinguished and discerning clientele of celebrities, business leaders, and sophisticated travelers.
By 2013, The Ritz-Carlton plans to be on the map at destinations including Aruba; Dorado Beach (Puerto Rico); Quy Nhon (Vietnam); Panama City (Panama) and Cairo (Egypt). Branded residences are scheduled to open at North Hills, Nassau County (Long Island, New York); and Dorado Beach (Puerto Rico). "The growth of The Residences by The Ritz-Carlton has been impressive, even with the slowdown in the real estate market of the past few years. Affluent customers are choosing these lifestyle options because of their assurance their condominiums and estate homes will be managed in the same exceptional way as our hotels," said Humler. "Whether as a second or third home, or a primary residence, The Residences have proven to be a very successful concept with brand loyalists."
In 2014, The Ritz-Carlton plans to once again return to the island of Bali, with a resort at Sawangan. The Residences are slated to open in Bangkok (Thailand) and Similan Beach (Thailand). Four Reserve properties plan to welcome guests looking for a memorable and intimate vacation experience in Muscat (Oman), Similan Beach, (Thailand); San Jose del Cabo, (Mexico) and Tamuda Bay (Morocco) A third Japanese property is scheduled to open in the resort town of Kyoto (Japan.) A Ritz-Carlton hotel is slated to be built in Rabat (Morocco).
The next year, 2015, includes plans for a second location in Cairo at Palm Hills (Egypt) and Residences in Kuala Lumpur (Malaysia) are also under development. This will be followed in 2016 with the anticipated opening of The Ritz-Carlton, Qingdao Green Town (China).
The Ritz-Carlton Hotel Company, L.L.C., of Chevy Chase, Md., currently operates 75 hotels in the Americas, Europe, Asia, the Middle East, Africa, and the Caribbean. More than 30 hotel and residential projects are under development around the globe. The Ritz-Carlton is the only service company to have twice earned the prestigious Malcolm Baldrige National Quality Award in 1992 and 1999. For more information, or reservations, contact a travel professional, or visit the company web site at www.ritzcarlton.com . The Ritz-Carlton Hotel Company, L.L.C. is a wholly-owned subsidiary of Marriott International, Inc. (NYSE: MAR).
Note on forward-looking statements : This press release contains "forward-looking statements" within the meaning of federal securities laws, including statements concerning the number of lodging properties we expect to add in the future, the locations of those properties, the year in which particular properties will open, and similar statements concerning anticipated future events and expectations that are not historical facts. We caution you that these statements are not guarantees of future performance and are subject to numerous risks and uncertainties, including those we identify below and other risk factors that we identify in Marriott International, Inc.'s most recent quarterly report on Form 10-Q. These risks include changes in market conditions; the continuation and pace of the economic recovery; supply and demand changes for hotel rooms; competitive conditions in the lodging industry; relationships with clients and property owners; and the availability of capital to finance hotel growth and refurbishment. Any of these factors could cause actual results to differ materially from the expectations we express or imply in this press release. We make these forward-looking statements as of the date of this press release, and undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
The Ritz-Carlton Hotel Company, L.L.C.
4445 Willard Avenue - Suite 800
USA - Chevy Chase, MD 20815
Phone: (703) 941-6225
Hotel Company Enters Kingdom of Saudi Arabia with the 493-room
Ritz-Carlton, Riyadh Located in Diplomatic Quarter and Adjacent to King
Abdul Aziz Conference Centre; Set to Open in Summer 2011 / May 2011
Dhabi National Hotels and Ritz-Carlton to Open 532-key Ritz-Carlton Abu
Dhabi, Grand Canal, the First Ritz-Carlton in Abu Dhabi / April 2011
Ritz-Carlton Hotel Company Opens the New 267-room Ritz-Carlton, Toronto
/ February 2011
Hotel's to Operate New Build 124-Villa Ritz-Carlton Reserve in Los
Cabos, Mexico Through a Joint Venture with Grupo Questro and Trinity
Investments L.L.C. / February 2011
Opens its Second Hotel in Dubai, the 341-room Ritz-Carlton, Dubai
International Financial Centre (DIFC) Featuring a 10-storey Waterfall
/ January 2011
Hotel Company Opens Fourth Hotel in Mainland China, the 351 room
Ritz-Carlton, Guangzhou / March 2008
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