Dubai-based hospitality majors Jumeirah Group and Emaar Hospitality are looking to foray into new territories as well as expand in existing markets in the UAE, regionally and globally as the hospitality and tourism sectors continue to grow exponentially in the post-pandemic period.
Jumeirah Group plans to foray into the Americas as well as expand into Europe, Asia and the Middle East as part of its 2030 plan, said Alex Lee, chief commercial officer, Jumeirah Group.
“Vision 2030 is really about looking at where we go from here. As we navigated through the pandemic, we started to expand more internationally. In the last two years, we’ve already been a catalyst in the global destinations of Italy, Maldives, Bahrain and Muscat and opening hotels where we have not been before,” Lee said during the Skift Global Forum East, a day-two conference taking place in Dubai.
He added that the US, South America, Europe and Asia are the markets where the group will be strengthening its presence.
“In terms in terms of international expansion, America is on the horizon,” he said on the first day of the conference on Wednesday.
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Jumeirah Group caters to the high-end luxury segment of the hospitality sector, which is expected to grow by around 25 per cent over the next five to seven years. In addition, the Gen-Z segment of luxury consumers is also soaring. Industry surveys found that 80 per cent of luxury consumers will be Gen-Z consumers by 2030. “They are soaring which means we will have to deliver and evolve. Gen-Z is looking at travel and hospitality and luxury experiences being as a necessity, no matter where they are.”
Mark Kirby, CEO, Emaar Hospitality Group, said the group is growing locally and regionally.
“We’re very excited about being able to grow further in the single market in destinations such as Maldives and that are in proximity to Dubai. We’re looking at destinations such as China, Japan and Europe. So we’re having conversations around that in different realms in different parts of our planet, making sure that we find the right partners,” Kirby said during a panel discussion at the second edition of the Skift conference.
“We continue to grow organically and we want to make sure our growth is organic… Our belief is that we have to have the right brand and the right destination with the right investor owner. We want to make sure that the partnership is going to last not 2 or 3 years, but for a long time,” said Kirby.