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$100mn+ Deal for Hotel in Dubai

Jebel Ali International Hotels (JAIH) has bought a hotel in Dubai, paying more than $100 million. The property is Jumeirah Beach Residence located on the coast of Dubai Marina. The hotel is yet at the stage of building and is expected to open in October 2012.

The hotel, which full name is also unknown yet, will be both owned and managed by Jebel Ali International Hotels. The company already operates several hotels, among which Oasis Beach Tower, Jebel Ali Golf Resort and Spa, and Hatta Fort Hotel. By the way, this is the first acquisition for the company even though JAIH is not a newly created firm. 30 years ago the hotelier opened a property, which is around a half of a kilometer away from the purchased hotel.

The new owner says they plan to open the first 4-start beach hotel in Dubai – The Palm Jumeirah Island is known as a luxurious destination. The building of the hotel is finished, but JAIH plans to invest additional $20 million or more into infrastructure, cosmetic changes and architectural updates. Among the target auditory of the hotel the owner sees leisure travellers and both single tourists, and tourists with children. Visitors of the hotel will also have access to Jebel Ali Golf Resort and Spa.

When asked about peculiarities of the hotel, the owner mentions very kind and relaxed service. They have it in other hotels and want to transfer this tradition to the new property as well. The idea of a high quality beach resort with friendly service and reasonable pricing sounds really appealing, so JAIH is sure in success of this project and foresees the average occupancy around 80% all year long.

07.03.2012

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