SHANGRI-LA’S managing director and chief executive officer David Hayden is stepping down in June as the hotel chain begins an ambitious worldwide expansion programme.
Hayden, who will remain a non-executive director and advisor to the board, will be replaced by operations vice-president Giovanni Angelini who joined the company in 1993.
The move comes as Shangri-La announced plans to expand into the Middle East, Europe and North America.
“In the six years I have been managing director the company has become more integrated,” said Hayden.
“Previously it was a collection of individual hotels rather than a chain. I feel I have accomplished what I set out to achieve.”
The Hong Kong-based chain, which has 39 hotels, all in Asia, is now looking to develop its name across the globe and is close to finalising a deal to build a property in Dubai.
It is likely to be followed with further properties in Oman and Abu Dhabi, with European expansion following in the next two years.
Growth by acquisition is also a possibility, said Angelini.
“We have flirted with Europe before, but the right property at the right price in the right location just didn’t come along,” he said. “London is the number one priority but we will also want to look at other major European cities.”
The North America venture will include both the east and west coast.
“We have consolidated our position in Asia and feel the brand now has worldwide recognition,” said Angelini.
Meanwhile, prices in Asia are starting to increase following a period of rates being stuck at rock-bottom levels.
Hayden said it was vital not to hold low prices for any longer than necessary.
“The economy is starting to pick up and keeping low prices will, in the public’s psychology, cheapen the destination,” he said.