The Asset Management and Hospitality Division of Mohamed & Obaid AlMulla Group, Ishraq Hospitality recently inducted Richard Haddad as its new Chief Executive Officer.
Industry sources added that prior to Ishraq Hospitality, Richard was the CEO at Jannah Hotels and Resorts, where he had led in remarkable double-digit growth in profits within his first year, opened a new branded hotel, and finalized the acquisition of new property openings among a plethora of other achievements.
Ishraq is a fast-growing hotel asset management company, where IHG is a major stakeholder. Haddad has also been hired to spearhead the group’s growth.
Over the course of his extensive career in the Middle East, Richard has also held managerial positions across renowned hotel groups in the Middle East, including the Director of Product Development in Ras Al Khaimah Tourism Development Authority.
Industry sources also confirmed that as a CEO, Haddad is now in charge of eight-owned properties within IHG, including Holiday Inn Express hotels and Staybridge Suites, as well as Crowne Plaza Deira and Crowne Plaza Dubai Jumeirah.
Sherif Beshara, Group CEO at Mohamed & Obaid AlMulla Group said “Richard is a highly respected and experienced CEO who will guide Ishraq Hospitality, and its distinguished hotel portfolio, through the next phase of its evolution as operators of some of the most prestigious international hotel franchises. Through his career, Richard has led his teams to embrace new strategies and develop top financial performance and value, and I look forward to seeing him succeed with vigor in his new role.”
“It is an honor to join Ishraq Hospitality, a company I have long admired. I look forward to working with the board, executive leadership team, IHG as stakeholders and the thousands of employees citywide to continue driving our success now and in the future. There are numerous strategic opportunities, and we are well positioned to steer powerfully and confidently ahead”, further commented Richard Haddad, new CEO at Ishraq Hospitality.
For more information regarding Ishraq Hospitality please read the article on: Ishraq Hospitality unveils Expansion Plans across ME
