News and Events

October 2014
Damac and Paramount to expand

The new agreement is a major expansion on the current deal which has already seen four different projects announced in Dubai and Riyadh

Dubai: Damac Properties has signed an exclusive deal with Paramount HOTELS & Resorts to expand its branded HOTELS and serviced living concepts to new cities around the region.

THE HOTELS and serviced residences will be launched over the next five years across Dubai, Abu Dhabi, Jeddah and Istanbul. The new agreement is a major expansion on the current deal which has already seen four different projects announced in Dubai and Riyadh.

"Damac Properties is delighted to be extending its exclusive agreement with Paramount HOTEL & Resorts - a deal which will present many new and exciting opportunities to bring the Hollywood lifestyle and California cool to many more premium locations," said Ziad El Chaar, MANAGING DIRECTOR of Damac Properties.

Ghassan Aridi, CHAIRMAN of Paramount Hotel & Resorts, said: "The reception to the Paramount Hotels & Resorts-branded hospitality concept has been overwhelming and when it came to expanding the brand further, there was no question that we should do so in partnership with Damac Properties... the new developments will be a series of dynamic and sensory experiences that live up to our mantra of producing hospitality that is unmistakable, unforgettable and consequently, un missable."

Premier Inn plans further expansion

PREMIER INN currently operates over 670 hotels globally, including five HOTELS IN the Middle East and three in India

Dubai: PREMIER INN is on track to increase the Middle East's mid-market hotel INVENTORY as part of aggressive international expansion and adding almost 6,000 new rooms In GCC, India and Southeast Asia in the next three years.

The UK's largest and fastest growing hotel operator has confirmed the Middle East is key to its international growth with sights set on a portfolio of 2,687 rooms across a dozen properties in less than three years, up from 1,356 operating rooms today.

According to Darroch Crawford, MANAGING DIRECTOR for Premier Inn in the Middle East this means an additional seven hotels comprising 1,331 mid-market rooms in four countries, spread over six cities - Doha, Jeddah, Jubail and Muscat, alongside Sharjah and Dubai.

Premier Inn currently operates over 670 hotels globally, including five HOTELS IN THE Middle East and three in India. He said that in the UAE, Dubai's Premier Inn Ibn Battuta Mall will have the largest key count outside of the United Kingdom at 372 rooms.

"The Premier Inn Dubai Ibn Battuta Mall will open in the second half of 2016, just after the 150-room Premier Inn Muscat Al Quram and 320 rooms served by the two Saudi-based properties. This is just weeks after Qatar gets two Premier Inn hotels, the 102-room Doha International Airport and another 219 rooms in the capital's Education City development," he said.

Frenzy building over UAE's mid-market HOTEL segment

Dubai has received 151 applications for 3- and 4-star properties

Dubai: The growing influx of visitors, that will result in the wake of Dubai hosting the Expo 2020 event, has created a frenzy in the mid-market hotel segment, experts at the DUBAI HOTEL Show 2014 highlighted.

Russel Sharpe, COO of Citymax HOTELS , and one of the speakers at the Vision Conference, said: "Traditionally, Dubai as a destination has always been synonymous with luxury. More than 60 per cent of the existing 85,000 HOTEL ROOMS are in the upscale segment. So, when Citymax HOTELS opened three years ago with a vision to create a strong brand in the mid-market segment catering to budget conscious travellers, we were the odd ones out. Now, with mid-market hotel development high on the agenda for both government and private sector alike, there is a development frenzy for mid-market hotels."

"This expansion is a necessity due to the 2020 vision and the ever increasing number of tourists to our shores, and Citymax Hotels welcome the competition. Our business model is well established and has proven successful with consistently high room occupancy rates," Sharpe said.

Asked about Dubai's current mid-market hotel segment, Sharpe noted that only seven international BUDGET HOTEL brands are currently present in Dubai, representing less than 15 per cent of the accommodation segment. In other parts of the world that number would be about 35 per cent. Demand, however, for hotel accommodation in Dubai has risen to about 7.5 per cent per year on average since 2003, and at more than nine per cent in the past three years. Hotels have experienced a 2.2 per cent rise in occupancy to 84.8 per cent.

Highlighting the recent growth in the mid-market segment, Sharpe revealed: "Dubai has received 151 applications for 3-star and 4-star HOTELS , with a total of 25,000 rooms; just 10,000 rooms short of the DTCM target of 35,000 rooms in just seven months after launching the campaign for more mid-tier accommodation. To meet the target of 20 million visitors by 2020, Dubai has to start catering to guests on a tighter budget."