Business | Tourism
Jumeirah plans more properties
Jumeirah, the Dubai-based luxury hotel chain that manages the iconic Burj Al Arab hotel, hopes to have 30 hotels in its portfolio this year as it competes for contracts with better-known hoteliers.
- By Shakir Husain, Staff Reporter
- Published: 23:38 May 3, 2009
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- "We see ourselves having a healthy mix of Dubai-related properties and non-Dubai properties in four to five years," says Gerald Lawless, Executive chairman ofJumeirah.
Dubai: Jumeirah, the Dubai-based luxury hotel chain that manages the emirate's iconic Burj Al Arab hotel, hopes to have 30 hotels in its portfolio this year as it competes for contracts with better-known hoteliers.
Part of Dubai Holding, Jumeirah mostly manages properties owned by Dubai entities and winning foreign management contracts is crucial for its growth.
At present it manages eight hotels in Dubai, two in London and one in New York.
Growth
"We have letters of understanding signed for 20 new properties. Towards the end of 2007, we will have close to 30 hotels operational and signed up," the hospitality group's executive chairman Gerald Lawless told Gulf News.
Three of Jumeirah's new properties are under construction in Shanghai, Phuket and Bermuda.
Lawless said new deals under discussion will provide a balance to Jum-eirah's portfolio, which is dependent on Dubai-owned real estate.
"We see ourselves having a healthy mix of Dubai-related properties and non-Dubai properties in four to five years. Fifty per cent of the hotels that we will be operating would not necessarily involve Dubai-related properties," Lawless added.
The group has a target of having 60 hotels either in operation or in confirmed deals by 2011.
"Particularly in this region, we have people inquiring from us all the time to run their properties. The interest in Jumeirah is growing significantly in Asia," Lawless said.
The company recently signed a contract to manage the Etihad Towers hotel and residential project owned by Shaikh Surour Bin Mohammad Al Nahyan in Abu Dhabi.
Under development
Other overseas projects under development are the Jumeirah Beetham Tower in London, Jumeirah Saraya Aqaba in Jordan, Jumeirah Dubai Towers in Qatar.
Asked if a company like Jumeirah could secure deals in distant markets, he said: "There is a great demand in the market for a new operator at the luxury end of the business."
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