Hotel operator Rezidor is the latest brand to head to Dubai’s Business Bay as the Dubai Canal takes shape.
A part of the Carlson Rezidor Hotel Group, Rezidor expects to open two properties in the area besides another in Ras Al Khaimah by the end of 2018.
The five-star, 432-room Radisson Blu Hotel, Dubai Waterfront is expected to by ready the first quarter of next year, and the five-star, 204-room Radisson Blu Hotel, Dubai Canal View in the first quarter of 2018.
The Dh703 million, 2.9-kilometre Dubai Water Canal, which links Business Bay to the Arabian Gulf, is expected to open by the end of the year. Beside berths for yachts, it will also feature a five-kilometer boardwalk lined with food and beverage and retail outlets.
“This is one of the most prominent future locations in Dubai with its proximity to the mall and Burj Khalifa,” said Elie Younes, the executive vice president and chief development officer of the Rezidor Hotel Group. “It is anticipated that the market will need another 50,000 rooms by 2020, and the demand is expected to grow significantly. During that journey, which is two to three years, there could be a period where supply overcomes demand but that is normal in all emerging markets.”
The beachfront, four-star Park Inn by Radisson Resort Ras Al Khaimah Marjan Island is expected to be ready in the first quarter of next year with 408 rooms, according to Rezidor.
Sharjah-based Al Hamad Group of Companies, which has interests in the construction industry, would be the owner of the Radisson Blu Hotel Dubai Waterfront and the Radisson Blu Hotel Dubai Canal View. Dubai-based Stallion Properties are the owner of the Marjan Island property.
Rezidor has 10 properties in the UAE, with six of them in Dubai. It has 14 properties in the pipeline in the UAE, with six expected to open next year.
The total international tourist spending in the UAE is expected to slow down this year, according to the World Travel and Tourism Council, which represents the travel industry.
The expenditures in the UAE by foreign tourists this year will slow down to 3.3 per cent to touch US$26.9 billion, marginally up from $26bn last year, when it grew at 4.3 per cent over the previous year, the agency said.
The increased segmentation in hotel offerings with more midrange hotels with lower prices is a factor in the lower spend, according to Mr Younes.
Dubai received 7.27 million international tourists during the first half, up from 7.25 million during the same period last year.
India, Saudi Arabia and the UK were the top source markets.
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