Emaar Properties says fire-hit hotel will not reopen in 2016

Fire engulfed the Dubai's Address Downtown hotel and residential tower on New Year's Eve
Emaar Properties says fire-hit hotel will not reopen in 2016
By Reuters
Mon 25 Apr 2016 01:54 PM

Dubai's Address Downtown hotel, which was damaged in a fire on New Year's Eve, will not reopen this year, an executive at the hospitality group of operator Emaar Properties said on Monday.

There had been no negative impact on Emaar's balance sheet from the hotel's temporary closure, Chris Newman, Emaar Hospitality Group director of operations, told reporters.

Fire engulfed the 63-storey hotel and residential tower on New Year's Eve.

Separately, Emaar Hospitality Group on Monday announced plans to open 35 new hotels and serviced residences to open under its three flagship brands - The Address Hotels + Resorts, Vida Hotels and Resorts and Rove Hotels - in Dubai, the UAE and key international markets.

Newman said that the expansion includes the opening of new properties in Dubai, as well as new management contracts to operate hotels and serviced residences in Fujairah in the UAE and Saudi Arabia.

Emaar has also signed management contracts for upcoming hotels and serviced residences projects in Bahrain, Turkey and Egypt.

"Today, we are taking our home-grown expertise to international markets and newer geographies. The scope and scale of our expansion is set to establish Emaar Hospitality Group as a premier provider of world-class hospitality not just in the UAE but globally," added Newman.

The new openings will take the total number of new hotel rooms being added by Emaar Hospitality Group in the UAE to 3,835 and the number of new serviced residences to 4,249.

Internationally, Emaar said it will add to its portfolio 707 hotel rooms and 833 serviced residences.

Currently, Emaar Hospitality Group operates four hotels and two serviced residences in Dubai under The Address Hotels + Resorts, a premium luxury hotel and residences brand, and two hotels under Vida Hotels and Resorts, an upscale boutique lifestyle hotel and residences brand.

Together, they offer 1,060 hotel rooms and 891 serviced residences. Emaar also manages the Nuran Marina Serviced Residences at Dubai Marina - the first of the serviced residences under the Nuran brand with 90 furnished residences which are fully serviced.

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