Emaar Hospitality Group expects to launch 35 hotels and serviced residences in next five years as it expands at home and abroad.
Emaar to Launch 35 New Hotels in Upcoming Five Years.
- (1888PressRelease) April 29, 2016 - The new hotels will surely encompass its luxury Address Hotels, Resorts brand, the upscale Vida Hotels and Resorts and midscale Rove Hotels.
Including the first Address beach resort in Fujairah and remaining in Egypt, Bahrain and Istanbul, its flagship The Address Downtown Dubai hotel which has been closed when a massive fire swept up the facade of the skyscraper since New Year's Eve, as millions of TV viewers watched events unfold live.
The Emaar Hospitality Group said the fire would not have any "adverse impact" on its balance sheet but also added that they did not expect it would reopen by the end of this year.
Including a Dh301 million write-down, Emaar Properties posted its fourth-quarter earnings in February due to the blaze.
Chris Newman, the corporate director for Emaar Hospitality Group (operations) said "The first quarter has been positive year-on-year and the overall [revenue per available room] is still forecasted to be strong,"
The hospitality division had contributed 12 percent of Emaar's revenues in 2015, at Dh1.64 billion.
Emaar Hospitality operates two serviced residences and four hotels in Dubai under Resorts brand and The Address Hotels and two hotels under Resorts and Vida Hotels.
The company will develop its new Rove Hotels brand, as a joint venture with Meraas, which is a Dubai-based holding company, this year.
The Rove Downtown Dubai will have 422 rooms and is scheduled to open in May next just after The Dubai Mall. This year, it expects to open Rove Oud Metha and Rove Port Saeed, with later additions of Rove Al Jafiliya, Rove Dubai Marina, and Rove at the Park, located next to Resorts' theme park and Dubai Parks.
Also expects to open 480 rooms Rove Satwa hotel and a direct access to the Dubai International Financial Centre and Dubai International Convention Centre. The twin-tower will include serviced residences. Rove Hotels is planning to operate more than 2,660 rooms in 10 properties.
The company also plans to take the Vida brand to Bahrain and Jeddah.
Internationally, it will add 833 serviced residences and 707 hotel rooms.
The company has teamed up with Eagle Hills, which is an Abu Dhabi-based private real estate development and investment company, to operate The Address Fujairah Resort and Spa. 177 apartments and 10 villas will be featured in the 196-room property.
Under its Address brand, they are going to add The Address Boulevard Dubai with 196 rooms, The Address Fountain Views Dubai with 193 rooms and The Address Sky View Dubai with 169 rooms all in Downtown Dubai.
The new openings will take the total number of 3,835 new hotel rooms and 4,249 of new serviced residences to be added by Emaar Hospitality Group in the UAE.
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