By Shane McGinley
Twin properties will be part of expanded Al Ghurair Shopping complex in Deira
Rotana, the Abu Dhabi-based hotel chain, said Saturday it will
open two hotels in Dubai in the third quarter of 2011, bringing its total
number of properties in the emirate to 15.
The privately-held firm plans to open a five-star property
and a number of serviced hotel apartments as part of the expansion of the Al
Ghurair Shopping complex in Deira.
Rotana’s existing portfolio in Dubai includes the 72-storey
Rose Rayhaan by Rotana which holds the title of the world’s tallest hotel
The firm said in December it would launch seven properties
in 2011 representing an investment of $800m and making it the UAE’s largest
single hotel player with 33 hotels under management.
Rotana is also scheduled to open one new hotel in Qatar,
part of an ambitious expansion plan that will see the group operate 12,515
rooms worldwide by the close of 2011.
The company operates some 70 hotels across the MENA region.
Investment bank Alpen Capital forecast in March that hotel
revenues across the Gulf will reach $22bn in 2012 and rise to $27bn by 2015.
Revenues across the industry grew at a rate of 11 percent
since 2010, the bank said, with Saudi Arabia and the UAE holding 89 percent of
Saudi Arabia is home to some 69 percent of planned hotel
developments in the Gulf, with 29 percent of the pipeline in the UAE.
Alpen Capital saw revenue per available room (RevPAR) in the
Gulf stabilising at around $173 during 2012 to 2015, while average daily rates will