Meraas launches hotels and resorts subsidiary

Meraas, the Dubai-based holding company, today announced the establishment of Meraas Hotels & Resorts, a new entity that will introduce, operate and manage different brands of hotels.

Meraas Hotels & Resorts falls under the umbrella of Meraas Hospitality, a division within the holding group that was established to oversee the company’s portfolio in the hospitality sector and translate Meraas’ strategic vision to contribute to the Dubai Tourism Vision 2020 – which aims to attract 20 million tourists to the emirate by 2020.

The new entity will integrate with businesses and destinations developed by Meraas, as well as manage hotels of independent developers or owners seeking an innovative partner in the hospitality sector.

Abdulla Al Habbai, Group Chairman of Meraas, said: “Meraas is committed to identifying unique opportunities in the market that contribute to achieving the UAE Vision 2021. In establishing Meraas Hotels & Resorts, we aim to capitalise on our strong portfolio of projects and the positive market trends projected for the tourism sector to establish new benchmarks in the hospitality industry.”

In order to meet the growing demand from the projected tourist influx, Dubai will need 140,000-160,000 hotel rooms by 2020. A recent report published by Dubai Tourism & Commerce Marketing for H1 2015, noted that as of June 2015, Dubai accounted for 667 hotel establishments and a total of 94,936 hotel rooms - an increase of five per cent and seven per cent respectively over the same period in 2014. The report elaborated that Dubai received 7.2 million international tourists in H1 2015.

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