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Emaar expands its Address Hotels brand by opening 5 new properties

Emaar Hospitality Group LLC, the Dubai-based hotelier, has revealed its plans concerning the opening of 5 hotels under the Address Hotels & Resorts brand. The hotels may be opened until 2014.

According to the press release, the company plans to open a hotel in France (the southern part of the country), a hotel in Budapest, one property in Bali and hotels in Istanbul and Marrakesh. All these accommodations will start operating between 2013 and 2014. As the company’s CEO Marc Dardenne says, the company also has particular interest in developing the chain of Address hotels in China.

In its work Emaar uses so called asset-light strategy that allows involving into new projects without any investments from the Dubai hotelier’s side.

Currently the company shows good increase in revenues as during 2010 Emaar has managed to improve the hospitality revenue by 50%. In 2011 the company plans to continue working over this positive trend and hopes for “steady growth” of 8-10%.

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