First Lodging Advisory and Operational Asset Management Firm To Meet
Rigorous Qatar Financial Center Authority Licensing Standards
DOHA, Qatar & BOSTON - Tuesday, April 8th 2014 [ME NewsWire]
(BUSINESS
WIRE)-- The T.R. ENGEL Group, LLC, (TRE), a Boston, USA-based
international lodging advisory and hotel operational asset management
firm, today announced that it has successfully met the rigorous,
corporate licensing requirements of the Qatar Financial Centre Authority
(QFCA). The QFCA is responsible for leading the expansion of Qatar’s
financial services sector and for developing relationships with the
regional and global financial community.
T.R. ENGEL Group –
Middle East, LLC (TRE-ME) is the first lodging advisory and asset
management firm to be awarded corporate licensing under the new,
exacting QFCA guidelines. TRE-ME joins such other international
companies as McKinsey & Company, Inc. Qatar; Goldman Sachs
International; and The Royal Bank of Scotland. Since its inception in
2005, the QFCA has awarded licensing to less than 200 companies.
T.R.
ENGEL Group – Middle East’s mandate is to deliver cost-effective
lodging advisory and asset management services to Qatari hotel real
estate investors and developers. These services range from hotel
programming, critiquing design concepts, financial underwriting, to
brand selection and negotiation of hotel management agreements.
“Qatar
is in the midst of a major lodging boom designed to satisfy two major
milestones ahead: The World Cup in 2022 and implementation of the Qatar
Tourism Strategy 2030,” said Matthew Engel, managing partner and head,
TRE-ME. “More than 240 estimated properties have been proposed by the
QTA.
“This tremendous influx has created demand for sophisticated
lodging advisory services and systems to help assure that the right
hotel concept, financing, competitive positioning, brand and management
and operating systems are in place,” he said. In addition, Engel and
TRE-ME believe “existing hotels require seasoned hotel operational asset
management to maintain and grow market share during a period of
extensive supply growth, with expected room supply increases of as much
as 10 percent annually over the next four years.”
TRE-ME’s
competitive edge lies in its people, senior executives with depth of
experience in every facet of the global hotel business: hotel
development, operations, asset management, finance and project
management.
Engel noted that Qatar is well underway in
implementing an impressive, well-devised tourism growth strategy in its
2030 plan which calls for boosting leisure travel from its current 2.6
percent of GDP to 5.1 percent by 2030, increasing tourist arrivals to
more than 3.5 million in 2022 and seven million annually by 2030. Much
of the growth will come from positioning Qatar as a luxury leisure
destination with an emphasis on cultural activities and sports.
TRE-ME
has worked on four major Qatar hotel and resort developments during the
last two years, providing marketing/feasibility studies and financial
underwriting, detailed hotel programming, design reviews and brand
reviews and selection. TRE-ME has played a pivotal role in successfully
structuring often complex hotel management agreements to optimize return
on investment. A cross-section of projects include the Anantara Doha
Island Resort & Spa, due to open in Q2, 2014; the DoubleTree Suites
by Hilton Doha Old Town opening 2014; the Salwa Beach Resort & Spa,
opening 2016; and concepts for the Doha Grand Park development.
“Our
representation has been in place in Doha since late 2011. Achieving QFC
licensing positions T.R. ENGEL – Middle East as the sole lodging
advisory firm to hold this distinction for which we are most grateful.
Along with our extensive background in global and Qatar hospitality, we
look forward to the opportunity to play a key role in the success of the
country’s lodging industry both for existing and future projects.”
T.R. ENGEL Group – Middle East, LLC, is led by Matthew Engel. Headquartered in Doha, the Qatar company contact information is:
Manuel
Schneider T.R. ENGEL Group – Middle East, LLC, Al Fardan Office Tower,
Level 9, Doha, Qatar, P.O. Box: 31316 Tel: +974 (44) 10 - 1560 | Cell:
+974 (66) 88 0393 | Fax: +974 (44) 10 - 1500
About T.R. ENGEL Group – Middle East, LLC (TRE-ME), a subsidiary of T.R. ENGEL Group, LLC (TRE)
T.R.
ENGEL Group, LLC, is a privately held, Boston, Mass., U.S.‐based
lodging advisory, asset management and real estate investment firm. The
company currently is engaged in hospitality advisory projects and hotel
asset management throughout the U.S., Europe and the Middle East. TRE
offices are located in Boston, New York City and Washington, D.C. T.R.
ENGEL Group – Middle East, LLC (TRE-ME) is a subsidiary of TRE,
registered in Qatar and licensed through the Qatar Financial Center
Authority with offices located in Doha, Qatar. Additional information
can be found at www.trengelgroup.com.
Contacts
USA Contact:
T.R. ENGEL Group, LLC
Matthew S. Engel, +1-617-451-1701
mengel@trengelgroup.com
Qatar Contact:
T.R. ENGEL Group – Middle East, LLC
Manuel D Schneider, +974-44-10-1560
mschneider@trengelgroup.com
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