Dubai: Dutch hospitality group Golden Tulip Hotels, Inns and Resorts, is set to develop its luxury brand, Royal Tulip, in Dubai by the end of 2008 at a value of $55 million, as part of ambitious plans to develop 70 hotels in the Middle East by 2010.
Dr Amine E Moukarzel, senior vice-president and managing director for the Mena region, said: "We have 35 hotels at present and every month between now and 2010, we will add one hotel to our portfolio throughout the region."
A total of four Royal Tulips will open between 2008 and 2010, according to Moukarzel.
Royal Tulip Bur Dubai will open in the fourth quarter, followed by Royal Tulip Resort and Spa Mirbat in Dhofar, Royal Tulip Resort and Spa Dead Sea and the Royal Tulip in Aqaba, Jordan.
"We have 11 hotels in the UAE, eight in Saudi Arabia, five in Oman, four in Jordan, two in Tunisia, one in Bahrain, one in Doha, one in Beirut, one in Kuwait and one in Egypt and more than 15 in the pipeline, makes the Middle East and North Africa one of our most exciting regions," said Hans H R Kennedie, president and CEO of Golden Tulip.
Moukarzel said 70 per cent of the group's hotels are in the Gulf and that revenues last year increased around 30 per cent.
The major developments within the GCC are in Saudi Arabia, the UAE, Doha, Jordan and the Levant.
"There is a momentum of growth thanks to the development of real estate in this part of the world. Saudi Arabia is popular because it's a large territory and has healthy investment and of course the UAE," Moukarzel said.
"The GCC remains the key," he said.
Golden Tulip Sharjah is due to open next month and there are "discussions" about two project s in Tunisia and, according to Moukarzel, "Libya is targeted to be the next new country for Golden Tulip."
We have eleven hotels in the UAE, eight in Saudi Arabia, five in Oman, four in Jordan, two in Tunisia, one in Bahrain, one in Doha, one in Beirut, one in Kuwait and one in Egypt and more than fifteen in the pipeline, making the Middle East and North Africa one of our most exciting regions."