Toronto-based FRHI Hotels and Resorts is branching out in a big way in 2014, expecting to open seven new properties worldwide across its three leading hotel brands, the company has announced. (Another positive: Its frequent flyer miles are about to go through the roof.) FRHI prez and COO Michael Glennie says it's targeting 50% growth over the next five years around the Raffles Hotels & Resorts, Fairmont Hotels & Resorts, and Swissotel Hotels & Resorts brands. Swissotel Sochi Krasnaya Polyana and Swissotel Sochi Kamelia are opening in time for the upcoming Winter Olympics; a new Fairmont Riyadh is opening in Saudi Arabia; and a new Raffles Istanbul is opening in Turkey, to name a few. (The hotel execs must've bought a lot of Rosetta Stone software recently.) In total, FRHI will be adding 1,300 guestrooms this year.
What’s driving the development? Michael tells us it comes down to several key factors—the opportunity to round out FRHI brands in gateway cities and top resort locales where they currently don’t have a presence, strategic development partners who have come to FRHI for their expertise in hotel and resort management. Also, developers looking to FRHI because of their experience managing multiple segments—business, leisure, MICE, residential, and emerging new markets where economic growth is taking place.
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