Damac inventory to make up 10% of Dubai's supply
Damac's rooms inventory to make up 10% of Dubai's supply by 2021
With its active pipeline for the next five years, real estate developer Damac Properties estimates that its hotel rooms portfolio will comprise approximately 10% of Dubai's supply by 2021, senior vice president Niall McLoughlin revealed during an interview with Hotelier Middle East at the 2017 Arabian Travel Market.
"Within the next 60 days, so by summer 2017, we will have two new hotels opening and will have 2,500 rooms in operation, " McLoughlin said, referring to the opening of Maison Bay's Edge in Dubai's Business Bay district by May 2017 as well as the opening of Maison Royale The Distinction, the group's "ultra luxury five-star hotel", in Downtown Dubai by June 2017.
The 305-key Damac Maison Royale will offer deluxe rooms as well as one, two and three bedroom suites complemented by a full kitchen. Facilities at the property will include a spa and health club.
McLoughlin said that by 2018, the group aims to double the number of rooms in operation to just under 5,000.
He also disclosed that the delivery of the group's latest offering Golfotel by 2021, would be a significant addition to Damac's hotel rooms portfolio. "With the introduction of Golfotel, this brings our portfolio of hotel rooms, operational and under development, to just under 15,000, which according to our estimation is approximately 10% of the hotel market in Dubai," he said.