Expanding Ishraq Hospitality’s horizons with CEO Richard Haddad

Expanding Ishraq Hospitality’s horizons with CEO Richard Haddad

At the helm of Ishraq Hospitality, Richard Haddad is focused on driving the company’s growth with its vast hotel portfolio and regional expansion as well as tackling the sustainability predicament. We sat with the CEO to learn more about his plans for the company.

What motivates you in your professional life?
Several factors drive me to excel in my work. Setting clear and precise goals and dedicating my full focus to achieving them is my priority. Having a clear direction allows me to channel my efforts effectively and measure my progress along the way. In addition to, delivering exceptional results by working with a fully dedicated team. Seeing tangible outcomes and exceeding expectations enables me to continually strive for excellence.
By playing a role in the growth and development of Ishraq Hospitality, I feel a huge sense of accomplishment and satisfaction across the organization. Another important aspect that drives me is the opportunity to develop talents and witness their success stories and empower and support others in their personal growth.
Lastly, championing a dynamic and responsible travel ecosystem is a significant source of motivation for me and the organization. To make a positive impact in the industry and to promote sustainable practices, is something that drives me to work towards creating a more environmentally friendly and socially responsible future.

What have been some of your company’s recent milestones/highlights?
It thrills me to share that this year has been marked by significant milestones and highlights for Ishraq Hospitality. Despite some of the challenges posed by the ever-changing industry dynamics, our portfolio has achieved and gained incredible double-digit growth, exceeding last year’s results. This growth is a testament to the dedication and hard work of our team in continuing to deliver exceptional experience to our guests while maintaining a strong market presence.
Furthermore, we have successfully expanded our market share in key regions, capitalizing on emerging opportunities and strategic partnerships. These milestones have solidified our position as a leading player in the industry.

How are you tackling the issue of sustainability?
At Ishraq Hospitality, we approach sustainability with exceptional engagement and a strong commitment to predefined goals for 2023. We believe that achieving these targets requires collaboration among all stakeholders, including our shareholders, suppliers, employees, guests and the local community. To guide our efforts, we have established an ESG committee that has set ambitious sustainability goals for the year ahead. These goals include a 50 percent reduction in paper usage, a 60 percent reduction in single-use plastics, a 2 percent reduction in food waste compared to 2022, a 1.5 percent reduction in cardon dioxide emissions compared to 2022 and a collective volunteering commitment of 19,000 hours. Furthermore, we have pledged to plant 5,000 trees by the end of 2023, contributing to reforestation efforts and carbon offsetting.
Implementing sustainable business practices is a top priority for us. We believe it is not only essential for preserving the environment but also aligns with consumer demands and helps drive our bottom line. By integrating sustainable strategies throughout our operations and supply chain, we aim to meet consumer expectations while increasing profitability and positively impacting our planet.

Do you have any new projects in the pipeline?
We have several exciting projects in the pipeline. Our initial focus is on repositioning our current portfolio through property improvement plans. By enhancing and upgrading our existing hotels, we aim to ensure that they become top-performing properties in their respective markets.
Simultaneously, we are expanding our management operations by adding hotels across the Middle East, Africa and Central Asia. We have already made significant progress in this area, with numerous leads and active negotiations. Our target is to sign 15 new hotels by 2026.


Website Icon png images | PNGEgg  ishraqhospitality.com


Add to Favorites
About author

Rita Ghantous

Rita Ghantous is a hospitality aficionado and a passionate writer with over 9 years’ experience in journalism and 5 years experience in the hospitality sector. Her passion for the performance arts and writing, started early. At 10 years old she was praised for her solo performance of the Beatles song “All My Love” accompanied by a guitarist, and was approached by a French talent scout during her school play. However, her love for writing was stronger. Fresh out of school, she became a freelance journalist for Noun Magazine and was awarded the Silver Award Cup for Outstanding Poetry, by The International Library of Poetry (Washington DC). She studied Business Management and earned a Masters degree from Saint Joseph University (USJ), her thesis was published in the Proche-Orient, Études en Management book. She then pursued a career in the hospitality industry but didn’t give up writing, that is why she launched the Four Points by Sheraton Le Verdun Newsletter. Her love for the industry and journalism led her to Hospitality Services - the organizers of the HORECA trade show in Lebanon, Saudi Arabia, Kuwait and Jordan, as well as Salon Du Chocolat, Beirut Cooking Festival, Whisky Live and other regional shows. She is currently the Publications Executive of Hospitality News Middle East, Taste & Flavors and Lebanon Traveler. It is with ultimate devotion for her magazines that she demonstrates her hospitality savoir-faire.

Your email address will not be published. Required fields are marked *