Dubai: Rotana Hotels, a hotel management company, expects to open five more hotels in Dubai by 2017, according to Omer Kaddouri, president and chief executive of the UAE-based company.

The new hotels will bring the total number of properties in Dubai to 20.

Revenue of the company’s hotels in Dubai is growing by five per cent annually. The company’s overall revenue is expected to grow by 3-5 per cent this year over 2013, according to Kaddouri.

Rotana, which currently operates 50 hotels, expects to touch 100 by 2020. It has signed 10 new hotels in the UAE, Iran, Tanzania and Sudan, which are expected to open before 2020.

Rotana is not planning on raising more financing through bonds, he said. On whether there are plans for an IPO, he said: “Three to four years down the line, possibly.”

Abu Dhabi, meanwhile, is expected to see the opening of two hotels under the Arjaan Hotel Apartments and Rotana Hotels and Resorts brands by the first quarter of 2015.

Elsewhere in the region, the company is looking to open nine hotels in Saudi Arabia, with the first property to open under the Rayhaan Hotels and Resorts brand in Riyadh during December this year.

In India, Rotana expects to sign two properties, one each in Mumbai and New Delhi, “before the end of the year,” Kaddouri said. The hotels will be under the Arjaan and Centro Hotels brands.

Four hotels are set to open in Iran by 2017.

There are no plans to open in Europe this year. However, Rotana expects to sign its first hotel in the region in the next two to three years, Kaddouri said.

Meanwhile, Rotana expects to sign its first property around Dubai World Central (DWC), where the World Expo 2020 will be held, this year. The Expo 2020, which Dubai won the bid to host last year, is expected to attract 25 million visitors. The company is looking to have two to three hotels around DWC by 2020, Kaddouri said.

Rotana, whose brands include Rotana, Rayhaan, Arjaan, Centro and the Residences by Rotana, is looking to launch a new brand by 2016, according to Kaddouri, adding that it could make its debut in Dubai.