In 2018 he bought over the Madrid-owned NH Hotel group of premium and luxury hotels, tripling the group’s portfolio and solidifying its European footprint. This acquisition, while visionary, also meant that when the pandemic hit just two years later, there was much more at stake. The group racked up losses of over US$1 billion (S$1.29 billion) in 2020 and 2021 due to lockdowns and travel restrictions. But he held firm and now that travel is in full swing once again, the company’s increased presence has led to even more brand name recognition around the world.
At the same time, he has also always believed in playing to his strengths, reinforcing the group’s presence in Asia, which already includes properties across various hospitality brands in Thailand, Vietnam, Indonesia, Sri Lanka, India, China, Maldives and the Middle East. The group plans to add 200 more hotels by the end of 2026, of which about 100 will be in Asia.
“We are already pretty well covered in Asia, with the exception of places like Singapore, Hong Kong and Japan,” he said. “So, it is obviously a major focus for us to try to get some of those other areas that we are not yet in.”
