Sheikh Nawaf bin Jassim bin Jabor Al Thani (left), Chairman of Katara Hospitality, and Federal Councillor Johann Schneider Ammann during the opening ceremony of Bürgenstock Resort Lake Lucerne in Switzerland.
Lucerne, Switzerland: Sheikh Nawaf bin Jassim bin Jabor Al Thani, Chairman of Katara Hospitality, has said that Katara Hospitality is not affected by siege and would continue investing in the hospitality sector around the world.
“Everyone was affected by the siege, but Qatar is the least affected due to its strong wealth. The biggest response to the blockade is the fact after the siege we bought the Plaza Hotel, for around $600m (one of New York’s most iconic buildings),” Sheikh Nawaf bin Jassim said while talking to media in Lucerne, Switzerland, after the official launch of the legendary Bürgenstock Resort Lake Lucerne in Switzerland.
“Our plan is to enter all markets and we want our flag to fly in all countries. The size of current investment of Katara Hospitality is estimated by QR160bn,” he said.
Under the patronage of Sheikh Nawaf bin Jassim bin Jabor Al Thani, the Bürgenstock Resort hosted over 1,000 highly esteemed guests, graced by the presence of Swiss Federal Councillor Schneider-Ammann, Hamad Abdullah Al Mulla, Chief Executive Officer of Katara Hospitality, Bruno Schöpfer, Managing Director of Katara Hospitality Switzerland AG, state counsellors and officials from Switzerland.
Talking to media, Sheikh Nawaf said that Katara Hospitality’s plan on investments in the sector were not changed due to siege. “Investments have become stronger and we are going to according to pre-blockade plans. The only change is regarding imports. Instead of being imported from the siege countries, Qatar is importing things from other countries,” he added.
Replying to a question about Katara hospitality investment in Europe, he said: “In Europe, we have 17 hotels with about 3,500 rooms and 20 percent of these rooms are in Switzerland. Most of the investments are long-term investments therefore they are savings for future generations and the countries in which we have invested enjoy security and political stability.”
Sheikh Nawaf said that investment appetite existed anywhere in the world. “But things to see are good return and absence of big risk.” He said a large number of projects will be opened soon and opportunities will also be announced in the hotel sector on time.
To another question about Katara Hospitality listing on the stock market, he said: “The plan of listing Katara Hospitality on the stock market exist but we don’t know when. May be after three years or four years and may be no. The problem is that the investment program is still going on, therefore it is not good for us to list it now, so the listing plan is available.”
Regarding question about when Katara Hospitality started its investments, he said Katara started its investment in three hotels only and currently it had 39 hotels. “Our plan is to enter all markets and we want our flag to fly in all countries. The size of current investment of Katara Hospitality is estimated by QR160 bn.”
He also said that Katara Hospitality is a supporter of the Qatari economy because it invests abroad. In terms of investment in the Arab region, he said there is an economic recession unlike other countries. “This recession came from the political differences between these countries.”
To another question, Sheikh Nawaf said, “Despite the returns of three and four star hotels are more as compared to 5 stars but Katara Hospitality always wants the best. Maybe in future plan we will invest in three and four stars hostels.”
About investments related to hosting the World Cup, he noted that: “There are about 46,000 new room facilities in Qatar and Katara Hospitality will contribute by a number of hotels, around 1500 to 2000 rooms. There is also a new plan to develop some of our hotels in Doha.” He also thanked the government to recent measures regarding the visa policy that allowing citizens of 80 countries to get visa on arrival. “With that announcement,
Qatar became the highest in the region in terms of number of nationalities eligible to enter visa-free, making it the most open country in the region.” Regarding question about the projects of 2019, he said: “We are going to open new projects among them Al Masila Spa Resort.”
