Premier Travel Inn (PTI) has broken ground at the Dubai Investment Park.
Its first property in Dubai, and first overseas investment outside of the UK, will be a 308-room hotel scheduled for completion in first quarter 2008. The building contract has been awarded to AMB Building LLC (AMBB), an established player in the UAE construction industry.
Premier Travel Inn’s international debut outside of the UK is operated under a joint venture between the Emirates Group, the largest aviation and travel services operator in the Middle East, and the UK’s leading hospitality group Whitbread Plc. The joint venture, PTI Gulf Hotels, recently secured AED 200 million financing from Emirates Bank International and the National Bank of Dubai for its first three developments in Dubai.
Darroch Crawford, Managing Director, PTI Gulf Hotels said: “We are forging ahead with our aggressive game plan, which is to bring 830 new rooms into the market over the next 18 months. In addition to Dubai Investment Park, we have also secured sites in Garhoud close to Dubai airport and in the Dubai Silicon Oasis. Tenders for PTI’s new developments are currently in progress.”
Andrew Wick, AMBB’s Managing Partner said: ‘We are delighted to have been awarded PTI Gulf Hotels first project in the region. The management of AMBB and PTI Gulf Hotels are already realising the benefits of working together in a pragmatic manner and I am confident this will enable us to deliver the building on time and to the required quality. We see this project as a great opportunity for AMBB to demonstrate our capabilities and it will also serve to set a high standard for PTI’s forthcoming projects.’
Derek Swan, Emirates’ Senior Vice President Business Development said: “In tandem with the rapid economic development in the GCC, there is a huge and growing market for business and leisure travellers seeking high quality budget hotel accommodation. Premier Travel Inn has an excellent track record in providing a great value-for-money hospitality product, and we are confident that PTI Gulf Hotels are well-positioned to service this demand.”
“Over the next five years, we plan to develop eight to nine properties in Dubai and launch some 5,000 rooms throughout the GCC,” he added.