QREC and Katara Hospitality sign partnership agreement

The Qatar Racing & Equestrian Club (QREC) and one of Katara Hospitality operating units recently signed an Agreement under which Katara Hospitality will manage and operate the QREC Clubhouse. The partnership reflects the two organisation’s wish to use invest this agreement for the optimum operation of the facility. The QREC Clubhouse will be a significant hospitality destination in Qatar in terms of the services provided at the Clubhouse through a host of facilities making it the ideal destination for those wishing to benefit from this partnership and enjoy a range of facilities.The structural works are scheduled to be completed at QREC’s premises early next year. Then, the procedures related to the start of the operation will commence according to the schedule to be developed by one of Katara Hospitality’s operating units. It is worth mentioning that the operation of the Clubhouse has been delayed over the previous years due to technical reasons. The existing QREC Board of Directors reached agreement with Katara Hospitality, given its extensive experience in this field, and signed the recent Agreement, which is related to the outfitting and operation of the facility in order to achieve the goals, which QREC looks forward to in the coming years. Following the signing of the agreement, Issa bin Mohammed al-Mohannadi, QREC chairman, said: “This agreement for the outfitting and operation of the QREC Clubhouse will contribute to the realisation of one of our key objectives by providing alternative financial resources. This will partly enhance QREC’s efforts to develop Qatar’s equestrian sport and partly lessen the burdens of the government towards QREC, which is an ultimate goal for us at QREC. The agreement further fosters QREC’s efforts to be a global equestrian leader, not only in terms of horseracing and technical aspects, but also through the optimum investment and maximised offerings of this facility. The public will certainly have their share of these benefits as the Clubhouse goers will have first-hand experience of the equestrian sport in Qatar and role played by QREC in this area, particularly as the QREC Clubhouse exists at the sole racecourse in the country. The Clubhouse will generate revenues, mainly through the rental of the facility, membership fees, the spa and the other facilities.”On this occasion, Hamad Abdulla al-Mulla, Chief Executive Officer of Katara Hospitality said: “We are honoured with this partnership; The Club House at the Qatar Racing and Equestrian Club will be managed through one of Katara Hospitality’s operating units to highlight and enhance this facility offerings, which will be set this project as one of the major and unique destinations in Qatar.”Katara Hospitality is a global hotel owner, developer and operator, based in Qatar. With more than 45 years of experience in the industry, Katara Hospitality actively pursues its strategic expansion plans by investing in peerless hotels in Qatar while growing its collection of iconic properties in key international markets.  Katara Hospitality’s portfolio has grown to include 40 owned and/or managed hotels and the company is now focused on achieving its target of 60 hotels in its portfolio by 2026.