Leading luxury lifestyle group continues rapid global expansion with nine new hotel signings; announces plans to triple existing portfolio by 2022
NEW YORK/PRNewswire/ -- Renowned hotel brand and management company Dream Hotel Group, home to its Dream Hotels, Time Hotels, The Chatwal and soon-to-launch Unscripted Hotels brands, today announced another year of unprecedented international growth with nine new hotels expected to open in new destinations by the end of 2020.
"We signed more new hotel deals in the last six months than any other year in the company's history," said Dream Hotel Group chairman Sant Singh Chatwal. "After significant investment and repositioning from ownership to hotel brand and management, Dream Hotel Group now boasts its strongest portfolio ever, and we look forward to continuing to build on our success and expand our brands at a rapid rate."
Dream Hotel Group has 16 hotels open today and a robust pipeline of 26 additional properties, including these nine new locations, which, when open, are expected to bring the company's total property and room count to 42 and 10,034, respectively. With the largest and most active pipeline in the company's history, Dream Hotel Group is on track to increase its global footprint by 230 percent over the next four years, tripling its existing portfolio by 2022.
"These nine new developments are a testament to the strength of our brands, and I am proud to announce another record year of strategic growth momentum for the group," remarked Jay Stein, CEO, Dream Hotel Group. "We are finding that our lifestyle brands resonate well in both established and emerging destinations, and every step into a new market demonstrates our unwavering commitment to forging new and enriching partnerships with potential owners and developers across the globe."
Dream Hotel Group Chairman Sant Singh Chatwal (PRNewsfoto/Dream Hotel Group)
Newly signed locations include primary and secondary markets around the world—from Dallas to Delhi, Upstate New York to Vietnam, the Maldives to the Dominican Republic—and represent $750 million in new hotel development, all with independent development partners.
The news follows that of the highly anticipated summer launch of Dream Hotel Group's newest lifestyle brand, Unscripted, which is on track become the fastest-growing new brand in the company's history. A new hospitality concept for the progressive creative traveler, Unscripted will open its first location in Durham, North Carolina in July 2017.
Dream Hotel Group also signed letters of intent to open hotels in the following markets: Austin, Phoenix, Orlando, Monterey, and Long Island City, as well as the United Kingdom, Central America, and Vietnam. The company plans to sign more than 150 hotels and resorts across all its brands—Dream, Time, The Chatwal and Unscripted—in the next four years.
For more information, visit www.dreamhotelgroup.com.