T.R. ENGEL Group – Middle East, LLC, Receives Qatar Financial Centre Authority Registration
By: Robert Diamond Apr. 08, 2014
TRE-ME is the first lodging-focused firm to be awarded licensing under the QFCA. TRE-ME joins such other international firms as McKinsey & Company, Goldman Sachs and The Royal Bank of Scotland. Since its inception in 2005, the QFCA has awarded licensing to less than 200 companies.
The TRE-ME mandate is to deliver cost-effective lodging advisory and asset management services to GCC-focused hotel real estate investors and developers. These services include project development, asset management, owners' representation and general real estate.
"Our Doha representation has been in place since late 2011. Achieving QFCA registration positions TRE-ME as the sole lodging-focused firm to hold this distinction for which we are most grateful," said Matthew Engel, Managing Principal and head, TRE-ME. "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."
TRE-ME has worked on four (4) major Qatar hotel and resort developments during the last two years providing market feasibility studies, financial underwriting, detailed hotel programming, design reviews, brand operator selection and hotel management agreements negotiation. A cross-section of projects includes the Anantara Doha Island Resort & Spa, the DoubleTree Suites by Hilton Doha Old Town, the Hilton Salwa Beach Resort & Spa and concepts for the Doha Grand Park development.
"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," Engel said. "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."
T.R. ENGEL Group - Middle East, LLC, is led by Matthew Engel. Headquartered in Doha, the Qatar company contact information is:
Matthew Engel
T.R. ENGEL Group - Middle East, LLC,
Al Fardan
Office Tower, Level 9,
Doha, Qatar, P.O. Box: 31316
Email: mengel@trengelgroup.com
| Tel: +974 (44) 10 - 1560 | 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.
SOURCE: BUSINESS WIRE
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