Corinthia Group, a Malta-based company that develops, owns and operates hotels in mostly emerging markets, debuts its Western flagship this month when its luxury brand, Corinthia Hotels, opens a hotel in London. Hotels editor Jeri Clausing talked with Corinthia founder and Corinthia Group Chairman Alfred Pisani about his company and its plans for the future.
Q: Tell me a bit about how you got started in the hotel business.
A: We opened our first hotel ... in 1968 in Malta. We did that in such a way that we were contractors. And this had been quite by chance. ... I couldn't find a contractor, so no problem, I became the contractor.
We continued to act as contractors on our next hotels. And ultimately, 12 years later, we formed a fully independent company to provide project management. Likewise, because when we opened the first hotel my manager left within three months, I decided to take over the responsibility myself.
So I managed my first hotel, my second hotel, and then got an assistant manager and then they became a full manager. So there was the beginning of a management company. By the time I had the fifth hotel, I really needed strong support to look after the hotel management. ... So one foundation started falling into three activities, and today all these activities are separate companies: development, project management and hotel management. And we have a company that manages the brand Corinthia.
Q: Do you own most of your hotels?
A: Yes, we own most.
Q: Tell me about your newest hotel, the Corinthia Hotel London.
A: Our latest hotel in London is going to be very special. I think we will definitely outrun our competition in terms of size of bedroom. The rooms are 450 square feet. That's very comfortable for a city center hotel. We have 40 suites ... 1,200 square feet, and seven very luxurious duplexes of 4,500 square feet over two floors with three and four bedrooms.
Q: So is it safe to say this is your grandest hotel yet?
A: Yes. The one in Budapest is also very good, the one in St. Petersburg. But yes, this would be.
Q: All of your other Corinthia hotels are in secondary or emerging markets. This marks a big shift for your company, no?
A: Yes. In order to give full exposure to our brand, we need to do this. We need to go to Paris, to Rome, to New York.
Q: Will that happen soon?
A: We will be discussing that.
Q: Do you have a time frame for that? I realize that global expansion has probably been slowed by the economy.
A: Yes ... but the fact is that we are moving forward. Also, as owners of the management company we would like to reach the stage where we can be recognized and expand management as an independent activity.
We would like to reach a stage where our brand is recognized and third-party owners call us to purely manage their hotels.
Q: What is your long-term goal? How many properties would you like to have?
A: I would like to say that in a short space of time we [would like to] have 50 as a combination of managing and owning.
Q: Will you continue to focus on emerging markets while looking for opportunities in the bigger cities?
A: For the biggest cities, the reasoning behind it is the exposure.
But the emerging markets in my opinion are the future: China, India, South America. The potential is tremendous.