Rotana has announced plans to open seven new hotels in Dubai, four in the capital Abu Dhabi and one in Ras Al Khaimah by the end of 2020.
Six of the upcoming properties will be five-star hotels, with the remaining properties comprising a mix of four and three-star hotels and hotel apartments.
Upon completion, the new hotels will add 4,360 keys to Rotana’s existing inventory, taking its fast expanding portfolio in the UAE to 44 properties, including 21 in Dubai and 17 in Abu Dhabi, with a room inventory of 11,782.
The total value of the 12 upcoming properties managed by Rotana in the UAE is estimated at $1.7 billion.
Rotana president Omer Kaddouri explained: “The UAE is our home market and even as we pursue our global ambitions and expand our footprint into new geographic regions, the country continues to remain the fulcrum around which Rotana’s business strategy is developed and implemented.
“With us bringing to the local market 12 new properties within the next four years, we further express our commitment to supporting the UAE’s tourism ambitions and reaffirming our belief in the long-term prospects of the country’s hospitality industry.
“Next year, we will be introducing a number of five-star properties to the market, including the all-new Saadiyat Rotana Resort and villas in Abu Dhabi, scheduled to open in quarter four of 2017.
“Ideal for both business and leisure travellers, the resort will feature 354 upscale rooms and suites, 13 beach villas, a beach club and extensive conference facilities.”
Despite the challenging economic environment, the outlook for the hospitality sector in Dubai and Abu Dhabi remains positive.
In previous UAE Real Estate 2016 mid-year market reviews, global consultancy firms listed the medium-to-long term outlook for the hospitality sector in Dubai and Abu Dhabi as positive, citing the opening of theme parks and new tourist attractions as the main factors driving demand.