Continent Hotels and Resorts CHR, the Turkish based hotel company, revealed expansion plans in Europe, India and China for both of its two brands the Continent Hotels & Resorts and the Ancyra brand. Continent Hotels & Resorts will…
Continent Hotels and Resorts CHR, the Turkish based hotel company, revealed expansion plans in Europe, India and China for both of its two brands the Continent Hotels & Resorts and the Ancyra brand. Continent Hotels & Resorts will serve exclusively the 4 and 5 star market, whilst the Ancyra brand is focused in the
mid-market hotel sector.
With rapid economic growth, hotel developers, owners and operators require hospitality management groups that have a strong and consistent brand essence and a focus onquality to manage their properties. They understand that this is required to ultimately out-perform the competition. The success we have had with our brands is a vote of confidence in our hotel management expertise says Managing Director Ethem Zagikyan.
Key markets for the international hotel group include: China, Russia, and Western Europe. The Middle East region, which is witnessing 10% year-on-year growth, will also be an important market for CHR, according to Ethem.
The new company will oversee the operation, marketing and further development of both Continent Hotels & Resorts and Ancyra hotels and Inns, leveraging the strength of the two hotel brands and increasing their marketing reach. The opportunity also exists of future expansion by taking on similar properties.
This is the first step for Continent Hotels and Resorts as well as Ancyra hotels by creating a presence in China, India and Europe. We aim to increase our property portfolio through, joint venture partnerships, regional and national franchise agreements. Our franchise plan is unrivalled in the hospitality industry and we are firm believers that Europe represents excellent market conditions for a new dynamic hotel brand.
The prospects for Europe appear to be strengthening rather than weakening which will bring renewed interest. This will be reinforced by current sentiment, which believes asset prices having softened will now harden, causing a greater convergence between buyer and seller expectations. As a result we believe, our expansion plans coupled with our dynamic brand will be welcomed in the EU, and our other key identified destinations. We consider the UK our Gateway to Europe, concluded Ethem.
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