Fairmont invests in tourism sector
Fairmont Hotels and Resorts is to manage a luxury business hotel in Dubai in a bid to become one of the first non-local businesses allowed to invest in the tourism sector <br>
The private office of His Highness Dr Sheikh Sultan bin Khalifa Al Nahyan has appointed the Fairmont Hotels & Resorts to manage its 393-room luxury business hotel in Dubai. An agreement for Fairmont to acquire a minority stake in the project has also been made.
"With a well-established reputation as North America's largest luxury hotel management company, Fairmont has been looking at strategic opportunities to grow the brand in the Middle East,” said William Fatt, chairman and CEO of Fairmont. “As our key flagship, we feel that it is imperative that we consider our involvement in The Fairmont Dubai from both a management and a partnership standpoint,” he added. Fatt sees the project as the first step in a strategic alliance between the private office of His Highness Dr Sheikh Sultan and Fairmont to build and operate a number of luxury hotels in the region and in other international markets.
With tradition normally seeing international operators entering the hotel arena under a management contract with local ownership, this joint venture is said to be different. When completed, the alliance will be an investment in the hospitality sector in Dubai by an international hotel operator.
Designed in the form of an Arabic wind tower (Barajeel), consisting of four
interlocking towers, The Fairmont Dubai will comprise 393 hotel rooms. This shall include 117 suites, said to be among the largest number for a luxury business hotel in Dubai, state-of-the-art business facilities and residential apartments.