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Aleph's Growth Path from Africa to the Middle East
Despite being based in Dubai, United Arab Emirates, management firm Aleph Hospitality began its growth in Africa. Now, HNN's Terence Baker reports the company is trying to bring its portfolio closer to home, aiming to add 50 hotels primarily in the Middle East by 2026.
Bani Haddad, Aleph Hospitality's managing director, said the company plans to grow through an owner-friendly model.
“Flexibility extends all the way to the potential exit. We will not make it difficult," he said. "Who am I to say, 'No, you cannot sell'? Owners are used to a number of clauses in the typical [hotel management agreement]. We say we are far more accommodating and balanced."
Dubai Increasingly a Tech Hub
The Wall Street Journal reports tech investment in the Middle East is increasingly focused on Dubai, thanks in part to open borders and high vaccination rates.
"Dubai largely kept its border open, aggressively vaccinated and introduced visas and other policies that have attracted an increasingly mobile international workforce," the newspaper reports. "With much of Europe and Asia launching lockdowns through multiple waves of COVID-19, Dubai’s mix of relaxed virus policies, low taxes and relatively light business regulation created an attractive environment for technology startups, executives said."
Middle East Poised To Benefit from Energy Crisis
Gulf Coast oil producers, along with those in the United States, could be the big winners of the energy crisis caused by Russia's war against Ukraine, according to the chief executive of Mercuria. Reuters reporters Mercuria CEO Marco Dunand said it could take some time before oil producers benefit from strong pricing.
"It's going to take three to four months to get the barrels," he said.
Russian, Ukrainian Travelers Stuck Together at Resorts in Egypt
In an illustration of both the global nature of travel and the complicated geopolitical landscape, tensions are arising at some Egyptian resorts that are currently playing host to stranded travelers from both Russia and Ukraine, the New York Times reports.
One such traveler is 30-year-old Yevgeni Shevchenko, who left his home in Kyiv and came to Egypt for a family vacation just four days before Russia invade his country.
“For me, it’s difficult to speak with Russians now,” he said to the newspaper.