One of the world’s leading hotel companies, Intercontinental Hotels Group (IHG) and Al-Futtaim, one of the region’s leading business houses headquartered in Dubai, have signed an agreement to manage the largest Holiday Inn hotel in the UAE.
The 520-room Holiday Inn Dubai Festival City will operate under a management agreement with Dubai Festival City Real Estate Development LLC owned by Al Futtaim. The business house also owns InterContinental Dubai Festival City, InterContinental Residence Suites, Crown Plaza Dubai Festival City, and Al Badia Golf Club.
Located in Dubai Festival City, the hotel will be the fifth partnership property between IHG and Al-Futtaim. The property is expected to be completed by the end of 2017. It will be the first branded mid-market hotel in the area.
Dubai Festival City is a well-established, mixed-use waterfront community which boasts of some of the finest retail, residential and commercial properties in Dubai.
Connectivity to landmarks
The new hotel will connect directly to Dubai Festival City Mall which offers variety of dining options because of its popular international retail outlets. With convenient transport facilities to prime spots of the city and proximity to Dubai International Airport, the hotel is set to be the destination for business as well as leisure.
Pascal Gauvin, Chief Operating Officer, IMEA, IHG said, “We’re thrilled to be expanding our partnership with an eminent corporation like Al-Futtaim and this new hotel compliments the existing luxury and upscale offerings at Dubai Festival City perfectly. This signing is pivotal to IHG’s growth plans in the region as there is growing demand for mid-market hotels in the UAE, especially in Dubai.
With the Holiday Inn brand’s universal appeal and ability to consistently offer a reliable welcoming experience in over 70 countries around the world, it’s the perfect brand to meet this need. Moreover, we are excited about the launch of the Festival Arena by InterContinental Dubai Festival City, an impressive venue that can cater to a broad range of events in Dubai and will create new possibilities for unique events within the entertainment industry.
Chris O’Donnell, Group Director Al Futtaim Group Real Estate (AFGRE), said, “Following the major redevelopment and expansion of the Dubai Festival City Mall and the development of the Holiday Inn Dubai Festival City, we will be providing visitors and residents with a complete range of retail, business and leisure activities and wide ranging accommodation to guests and residents alike. This hotel marks our sixth project with IHG and with our collaboration thus far has resulted in great success; we are confident our continued partnership will be one the enablers of our growth ambition in the Middle East.”
This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.