DUBAI, UNITED ARAB EMIRATES - Barrows, the provider of hotel investment and advisory services for hotels in the Middle East and Africa is expanding its professional core activities with Property Improvement Projects and Hotel Improvement Projects as part of the preparations for the scheduled SPAC Merger in 2023.
The organization has been involved in hotel investments since 2008 and advising hotel operators on acquisitions and operational issues. Now that the market is moving strongly, the company sees enormous growth opportunities in the Middle East and Africa to accelerate the implementation of the PIP and HIP activities according to Barrows Chairman Erwin Jager.
Significant investments have been made in recent months in new software that monitors the project management processes of PIPs and HIPs. The first agreements for PIPs have been signed by the various hotel operators and will provide a lot of work for Barrows in the coming months.
The company will undergo a transition in the next 6 months in its core activities that should increase sales and profits. In addition to the PIP and HIP activities, we are focussing strongly on restructuring 4 and 5 star hotels that have problems as a result of lack of succession, financing problems or other management issues. It is precisely with these activities that we can add our value. We know the market inside out and can apply a wide range of solutions that increase the value of real estate and the operational activities.
The company aims to grow in the coming years through acquisitions within the industry.
There is an enormous oversupply of hotels in the market, making improvement plans an absolute necessity to guarantee guest satisfaction and continuity in occupancy. "The technology offers so many opportunities that we need to scale up without any doubt. We have no time to lose if we want to achieve our goal" said Erwin Jager.
Barrows Hotel Enterprises internationally manages over 10,000 hotel rooms in more than 10 countries. The company started in 2008 as a real estate investor in the residential market in Dubai. Since 2012, Barrows has changed its strategy and today the company is fully focused on the fast-growing hotel industry in the MENA region.