Dubai: The property developer Azizi is going deep into the hospitality space and plans to bring in a global brand for its project. It will take on a two-track strategy - develop or acquire hotel real estate that Azizi will then own and manage. These projects would be in the UAE and outside as well.
To this end, Michael Zager has been named the new Chief Operating Officer - Hospitality. Zager previously held senior positions at four- and five-star hotel groups in Europe, the Middle East, and Africa, including Wyndham Hotels & Resorts, Marriott, and InterContinental Hotels Group. At the latter, he was the vice-president in charge of the franchised and managed portfolio.
Through the years, Azizi had been talking about a possible launch into owning and managing hotels. The Dubai hotel industry is passing through a fairly sustained high-growth phase, and the developer could include hotel elements into some of its ongoing/planned tower developments.
"The hospitality sector is especially pronounced here in our home, the UAE, with Dubai seeing a substantial influx of visitors and continuing to be crowned as the Number One destination in the world," said Farhad Azizi, CEO. "We are now leveraging our real estate aptitude and understanding of the wants and needs in the realm of accommodation to grant visitors unparalleled hospitality experiences, worldwide.
"We see our expansion into the tourism sector as the next big stride in our mission of enhancing lifestyles."
