Ascott currently has 16 properties under development and an additional 2,003 units in the pipeline that will be opening over the next two years in the region. After establishing itself in the Middle East, Ascott aims to further strengthen its presence in emerging markets in Africa, with five properties currently in the development phase.
Vincent Miccolis, Ascott’s regional GM for Middle East, Africa, Turkey and India, said: “Despite the challenges the hospitality industry faced across the world in 2020, our sustainable business model has allowed us to stand firm performance-wise. While we continue reinforcing our position in the Middle East, where we have established a strong presence in key markets such as Saudi Arabia, Qatar and the United Arab Emirates, our focus over the next five years is to strengthen our geographical presence in the emerging markets within Africa.”
