Jan 26, 2021 10:13 PM EST
No pandemic or economic uncertainty can stop SBE corporation.
Even though a huge part of the hotel industry was and still is continuously being affected by the ongoing coronavirus pandemic, the SBE corporation still has an optimistic view of the future.
The main evidence of this optimism is its plans of opening 50 new hotels nationally and internationally by 2023.
The luxury hospitality company even made the announcement of this seemingly unimaginable goal to the public through a press release on Thursday.
It also has an upcoming SLS Dubai Hotel & Residence to be opened in the second quarter of 2021.
Chadi Farhat, Chief Operating Officer, SBE stated with regard to this Dubai opening, "We are excited to open our first SLS hotel in the Middle East in collaboration with Mehmet Nazif Gunal, Founder and Chairman of World of Wonders Real Estate Development, and his incredible team. We are excited to open our doors to Dubai's diverse travellers and residents, welcoming them with the signature SLS style of luxury, hospitality and comfort. Naturally as a major destination for global travellers, Dubai was the ideal location for our next SLS hotel. Home to over six of sbe's signature culinary and nightlife experiences, SLS Dubai will be the ultimate lifestyle destination in Dubai."
Speaking with Fox Busines, a media representative confirmed said news of expansion, asserting that it will continue with its hotel opening plans despite the unrelenting COVID-19 pandemic.
Apart from Dubai, it sees its hotels opening also in other destinations such as Cancun, London and Australia.
The New York-based hospitality company also gave a brief outline of its future plans on its website. Interested people need to just visit its "Grow With Us" section to see its plans.
Reports made last year showed a relatively bleak future for the hospitality industry. However, it is also likely to be one of those that can survive it only a bit scathed.
According to reports, the hospitality industry is quite used to turbulent times and global crises. Since it possesses one of the world's oldest business models, the industry has went through a range of dire crises - including but not limited to World Wars, Gulf tensions, recessions and even different epidemics. The COVID-19 pandemic is not likely to be so much worse than these earlier crises.
Still, there is no denying that the COVID-19 crisis has pushed the global hospitality market into rock bottom, even in the Gulf region.
In the pre-COVID period, the growth in the tourism and travel sector in the Gulf region was about 10% during the past five years. Needless to say, it was quite vibrant, and would have even reached USD 110 billion in 2020 had the pandemic did not break out. However, because of the COVID-19 crisis, the GCC hospitality and tourism market has lost nearly USD 20 billion just in the first half of 2020.
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