Travel Reservations - OrangeSmile Tours
Best destinations around the world - Travel Guide

Find the right hotel

Hotel Business News and Analytics
Important! This article is written by orangesmile.com editors and is protected by copyright law. The article can only be re-used with a direct link to www.orangesmile.com
All news:
 01 
 02 
 03 
 04 
 Latest 


Ritz-Carlton hotel in Dubai is sold to an undefined buyer

News The Union Properties PJSC has sold its Ritz-Carlton hotel in Dubai that is scheduled for opening in December of this year. The sum of the deal for the luxury hotel located in Dubai International Financial Centre estimates 1.1 billion dirhams or US $300 million. Ritz-Carlton Dubai will have 465 rooms, so the undefined buyer has paid US $644,000 per 1 room.

This deal is forced by tough financial position of Union Properties that is currently in debt. The company has planned to get rid of Ritz-Carlton in order to finish other projects that are yet in construction. Among them is MotorCity Dubai - a motorsports inspired hotel and a tourist complex.

Ritz-Carlton hotel in Dubai is an upscale hotel situated in Gate Boulevard District. The hotel’s 465 rooms are located in a 14-store building. The hotel’s guests will be amazed by sunken gardens, multiple retail shops, several restaurants, a SPA center, bars, a gym, and a meeting/event space of 2,000 sq. m. This is going to be the second hotel in Dubai under the Ritz-Carlton brand. The general manager of this property will be Lothar Quarz, who has previously occupied the same position in the Ritz-Carlton hotel in Wolfsburg, Germany.



Previous article / Back to news index

Stay in touch with the latest news of a worldwide hotel industry. All up-to-date analytics, news, and reports about hotel business trends on OrangeSmile.com.

Our travel services
 Car Rental
Car Hire Worldwide
 News in languages
English 
Deutsch 
Nederlands 
French 
Russian
 Top 20 destinations
Benidorm
162 hotels
Cannes
121 hotels
Fortaleza
77 hotels
Ibiza
45 hotels
Lisbon
216 hotels
Miami Beach
138 hotels
Paris
1184 hotels
Saint-Malo
55 hotels
Sunny Beach
127 hotels
Zell am See
74 hotels