Gulf Hotels group in Forbes Middle East top 500 list
Following its announcement of expansion, Gulf Hotels Group was awarded the Forbes Middle East Award for the top 500 companies in the Arab World. Earning the 351st spot among the 500, the group was among the 22 companies listed from Bahrain. The list, which includes only publicly-listed companies, was compiled and based on their 2013 financial statements as well as collected stock information from across the region. Gulf Hotels Group CEO AqeelRaees attributed the success of the company to their employees. He said, “We believe that the comfort and happiness of the employees is what leads to the happiness and loyalty of our valued customers.” He added that, “The group always encourages interaction and the sharing and exchanging of experiences between team members. This opens up new avenues for the exchange of cultures and different experiences. Knowledge will lead the better decisions in the end that will generate success and profit for the company in general.”
Aqeel said that in the end the cycle returns to the employees as they also benefit from the advancement of the company. Total revenue, net profit, total assets and market capitalisation are the main criteria looked at to rank companies in the list. Looking forward, Gulf Hotels Group is confident it can maintain its place as they achieve increase in profits year-on-year.
After the success of its Zanzibar Ocean Paradise Resort, Gulf Hotels Group announced its plans this year for the group to expand into Dubai with a 230-room, 23-storey luxury hotel in the Dubai Creek. The completion of the property is expected to contribute greatly to their bottom line. Apart from this there are also two properties in the way including the Juffair Gulf Residences and the Amwaj Gulf Residences as they venture further in the serviced apartments segment.
As the home-grown Gulf Hotels expands internationally, Aqeel hopes to introduce Bahraini hospitality as a unique offering in the global hospitality industry.
“The Gulf Hotel is very keen to provide the best Arabic Bahraini service standards. We aim to show the whole world what Bahraini hospitality and culture is and that it can compete with luxury international hotel chains,” Aqeel said.