Friday, October 17, 2008

Jumeirah plans global expansion; aims 60 new hotels by 2012

The Dubai-based luxury hotel company, the Jumeirah Group, is heading on its global expansion plan, and hopes to rollout 60 new hotels by 2012, despite the on-going global financial crisis.

The Dubai Government-owned hotel operator, last week announced signing deals with five new hotels, which makes the total number of new properties currently under development to 19. Apart from this, Jumeirah is managing 11 hotels and resorts.

"We are a solid company, and the current financial crisis will not affect us. The hotels that we have signed deals with, are being developed by strong partners. The projects are all well-funded. We have a long-term growth plan and most new hotels will open in two to three years time," commented Gerald Lawless, Executive Chairman, Jumeirah Group.

The company is focusing on emerging and growth markets of Asia, the Middle East and the Gulf for expansion. Jumeirah has also accepted management of several hotels across the Gulf.

"With these developments, we are sure about maintaining a balanced portfolio. One-third of our hotels will be in Asia, and we already have a strong base in the Middle East and GCC," Gerald said.

These announcements are in addition to other announcements of hotels in St. Thomas, Glasgow, Guangzhou, and US Virgin Islands.

According to Lawless, the strength of his company comes from the ambitious plans of Dubai Holding, the parent company of Jumeirah, and the Sama Dubai and Dubai Properties, the development arms, who are also the master-planners behind several new communities wherein several new hotels are likely to be built.

"Through the support of Dubai Holding, our parent company, we are on target to achieve our aim of globalizing our luxury brand. We hope to see 60 properties either operational or under development by 2012," Lawless said, when speaking during a conference in Hong Kong.

No comments: