Emaar Hospitality Plans 35 New Hotels and Residences
Dubai property giant to add 14 hotels and 11 serviced apartments to portfolio
Dubai property developer Emaar’s hospitality unit has unveiled plans to launch 35 new hotels and serviced residences under its Address, VIda and Rove brands.
Under the plans, the company will add 14 new hotels and 10 serviced residences in the UAE and 5 and 6 internationally.
These will include The Address brand’s 1st beach resort in Fujairah and the first properties of mid-scale brand Rove Hotels.
Emaar Hospitality corporate director of operations Chris Newman said the unit’s performance in Q-1 was “robust” and the company expected to maintain its occupancy rate of 86% seen in Y 2015.
Last year, the company made revenues of Dhs 1.68-B.
“The scope and scale of our expansion is set to establish Emaar Hospitality Group as a premier provider of world-class hospitality not just in the UAE but globally,” he said.
The brand’s upcoming properties include Rove Downtown Dubai, the brand’s first property with 480 rooms. set to open in May.
Elsewhere, the Rove brand will also launch a twin-tower complex in the Satwa neighborhood with hotel rooms and 157 serviced residences. It will also launch 270-room, 286-room, 384-room, 270-room and 458-room properties in Port Saeed, Out Metha, Dubai Marina, Al Jafiliya and at Dubai Parks and Resorts.
Under the plans, the brand will have 10 hotels with more than 2,660 rooms by Y 2020.
Additions to The Address portfolio include 196 rooms and 177 apartments and 10 luxury villas at the brand’s Fujairah Resort and Spa.
In Dubai it will add properties in 3 new hotels with the 196-room, 169-room and 193-room Address Boulevard, Sky view and Fountain Views. The Address Downtown is also being redeveloped with 196 rooms.
An additional 532, 524 and 774 residences are being built at each property respectively with a further 809 coming at the Address Residences Dubai Opera and 626 through the redevelopment of Address Downtown.
Internationally the brand will add hotel rooms and residences in Egypt at at Marassi Golf Resort and in Turkey with The Address Istanbul and Emaar Square residences. It also add hotel rooms and residences at The Address Marrassi Bahrain.
Finally, the Vida brand will enter Suadi Arabia with 202 hotel rooms and 162 residences at Jeddah Gate. The brand will also add 160 new rooms and 140 residences in bahrain at Marassi Al Bahrain.
In Dubai the brand plans two new properties with the 157-room Vida The Hills and 160-room Vida Townsquare Dubai. It will also add 136, 334 and 172 residences at The hills, Downtown Dubai and Townsquare Dubai Respectively.
In total the company will add 4,542 new hotel rooms and 5,082 residences to its portfolio, with 3,835 and 4,249 in the UAE respectively.
The company’s revnues totaled Dhs1.68-B last year
By Robert Anderson
Latest posts by Paul Ebeling (see all)
- F1: Ferrari (NYSE:RACE) Pre-season Report - March 19, 2018
- Stocks Declined Globally as Expected, FB a Non-issue - March 19, 2018
- President Trump, “Drug addiction not our future” - March 19, 2018