“My personal dream is to run an international hotel company one day,” says Bugra Berberoglu. Sammy Dallal / The National
“My personal dream is to run an international hotel company one day,” says Bugra Berberoglu. Sammy Dallal / The National
“My personal dream is to run an international hotel company one day,” says Bugra Berberoglu. Sammy Dallal / The National
“My personal dream is to run an international hotel company one day,” says Bugra Berberoglu. Sammy Dallal / The National

Born to a life in the hospitality industry


  • English
  • Arabic

Bugra Berberoglu is only 39, which is remarkably young to be the general manager of one the world's most luxurious hotels - Emirates Palace. The hotelier, who took up his role in July, talks about his life in the industry and the job at the world-famous hotel.

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q&a

q How did you get into the hotel industry?

a My parents are in the hotel business. My grandfather opened the first hotel in Kemer, Turkey, so I was born in a hotel. This is my passion. I left home when I was 17 and I went to Switzerland to Lausanne [Hotel School]. It was a great five years in Lausanne.

q What was your first hotel job?

a My first job was in Florida's Boca Raton [at the 1,000-room Boca Raton Resort & Club]. I spent some time in Latin America and North America. I moved to InterContinental for nine years. I became the resort manager of a new hotel they were opening in Puerto Rico when I was only 29 years old.

q And how did your career progress?

a From there, I moved to Kempinski. I ended up in Chad, where I opened a new hotel. Then I moved to Djibouti to open a Kempinski hotel. I got a medal of honour from the president of Djibouti for my contribution to the country. It was its first five-star hotel. Then I moved to Levant and signed several management contracts in the region.

q Now you are at Emirates Palace. You must have a busy working day.

a In Emirates Palace, there might be, in one day, three events and a couple of top VIPs coming in. I try to start early in the day. I ride my bicycle from where I live in Khalidiya, so if you see some bald guy at 6 o'clock in the morning riding on a bicycle, it's me. I come here, I work out, then I change and I go to the office. I stay until 6pm to 11pm - it depends. Hoteliers, in general, are very hard-working people because you need to have the presence and be with your staff.

q What's the biggest challenge you face in your work?

A: The biggest challenge is the people. In our business, our core is the people, in order for us to survive. Many companies neglect to understand this very basic rule. I always tell my staff that we all make mistakes. What we do is we learn from our mistakes and we move on.

q What do you do when you manage to get some time away from the hotel?

a I like motorcycles. I have a Harley-Davidson Street Bob.

q What's next for you?

a I'm all for that general managers should not stay more than [a] maximum of five years, because you become complacent after a certain number of years. You need to bring fresh eyes, fresh blood, fresh energy. The general manager is the soul of the property. My personal dream is to run an international hotel company one day.

Sheer grandeur

The Owo building is 14 storeys high, seven of which are below ground, with the 30,000 square feet of amenities located subterranean, including a 16-seat private cinema, seven lounges, a gym, games room, treatment suites and bicycle storage.

A clear distinction between the residences and the Raffles hotel with the amenities operated separately.

Specs

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Match info:

Real Betis v Sevilla, 10.45pm (UAE)

MATCH INFO

Syria v Australia
2018 World Cup qualifying: Asia fourth round play-off first leg
Venue: Hang Jebat Stadium, Malayisa
Kick-off: Thursday, 4.30pm (UAE)
Watch: beIN Sports HD

* Second leg in Australia on October 10

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

'Texas Chainsaw Massacre'

Rating: 1 out of 4

Running time: 81 minutes

Director: David Blue Garcia

Starring: Sarah Yarkin, Elsie Fisher, Mark Burnham

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