Flora Hospitality says it has selected locations for new properties to be built by end-2016
Flora Hospitality, the non alcoholic hospitality brand in the UAE and India, has unveiled plans to open four new properties in Dubai between 2014-2016.
The company currently operates seven hotels and hotel apartments in the UAE but is embarking on a AED750m expansion plan.
Flora Hospitality said in a statement that it has selected locations in Dubai for its new hotel projects and expects to be able to offer a portfolio in Dubai of at least 11 hotels by 2016, increasing its total inventory from 780 rooms to more than 1,700.
The expansion plan includes a AED400m investment on a luxury property project in Dubai Downtown.
Construction will begin this month and the hotel is expected to be completed in the last quarter of 2016.
Two other four-star properties of 186 and 272 rooms will are planned in Al Barsha, close to the Mall of the Emirates, and in Al Garhoud and are expected to open by end of 2016, the company said in the statement.
VA Hassan, chairman & CEO of Flora Hospitality, said: "Dubai's hospitality sector has been recording a strong growth rate and promises continued expansion thanks to the decision to award the city the right to host the Expo 2020.
"With our properties reaching above-market average occupancy rates of 87 percent, it is our aim to aggressively expand our portfolio over the next three years."