Dubai-based Al Waleed Investment Group has shrugged off the harsh economic climate caused by the global Covid-19 pandemic to open its first hotel in the emirate.
The company’s new AED100 million Beach Walk Hotel on Jumeirah Street boasts 80 rooms in various styles, as well as swimming pools, a fitness centre, sauna, meeting rooms, business services and international cuisine.
With the opening of the new hotel, the Al Waleed Investment’s hospitality portfolio has expanded to include six establishments comprising 500 rooms: Park Regis Boutique, Al Waleed Palace in Oud Metha, Al Waleed Palace in Al Barsha, Lemon Tree on Al Wasl Road, Beach Walk Jumeirah, and the Downtown Amman Abdali Boulevard Hotel.
A recent report from Cavendish Maxwell revealed that, as of June 2020, 16 percent of hotels within the UAE tracked by hotel data firm AM:PM have closed their doors. During this time, Dubai’s RevPAR (Revenue Per Available Room) fell 73.5 percent when compared with June 2019.
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