Khaleej Times Real Estate, 24 April 2018
Damac Hotels & Resorts, the hospitality arm of Damac, is looking to boost its current portfolio of around 1,700 hotel units over the next 3 years, with the aim of delivering 15,000 units by 2021.
Speaking at the Arabian Travel Market, Damac chairman Hussain Sajwani said: “Over the past 4 years, Damac has delivered 1,700 hotel units that are in operation currently, and we’re looking to increase that to over 5,500 rooms by year end. With Expo 2020 just around the corner, there is much expected from Dubai’s hospitality sector, and this global destination is all set to welcome over 20 million visitors in the coming years. The goal of delivering 15,000 keys by 2021 is a task that is both challenging and thrilling.”
Jean Faivre, senior vice-president – hospitality, Damac Hotels & Resorts, said: “Damac has already set new trends with the Damac Maison and Damac Maison Royale brands. With room occupancy topping 29 million room nights last year and at 78 per cent occupancy rate, we anticipate a lot more hospitality units will be needed to cope with the influx of tourists over the coming years.”
Damac Hotels & Resorts has 2 brands, Damac Maison Royale and Damac Maison. The current operational projects are located in and around Downtown Dubai and Business Bay, with other property openings planned in key areas of the city.