Dipinder Benjamin said the group aims to have presence in other countries in the Middle East and plans an additional five properties each year across the region.
He said about 700 to 1,000 jobs will be created by the group in 2021 which will be consistent in subsequent years.
The hospitality firm is looking at acquiring properties that match all of its three brands – Morpho, Crystal by Morpho and Vivid by Morpho.
According to Colliers International's Mena hotel forecast for 2020-2021, Middle East’s hospitality industry will start recovery in the Q4 of 2020 and this will continue in 2021. In 2021, hotel occupancy in the UAE is expected to recover to 62 per cent or higher.
“We are certain the travel and hospitality industry will bounce back from this phase. When it does, we would like to be among the key players in the market. At the onset of the pandemic, we witnessed there is an opportunity to tie up with standalone properties and assist them in the transformation of their hotels with a curated digitised offering,” he added.
Benjamin said there is a dynamic shift in the industry in the last few months as there is a sustained focus on cost factors to reduce operational expenses.
“The industry players are also keen to explore collaborative offerings with aligned industries working to help multiple ancillary businesses,” he added.
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