Al Waleed Investment Group opens $27m hotel in Jumeirah, Dubai

Beach Walk Hotel comprises 80 keys, a fitness centre and a sauna

Al waleed investment group

Al Waleed Investment Group, one of the region’s largest investment firms across various sectors, has announced the opening of Beach Walk Hotel in Dubai’s Jumeirah area.

The investment group spent AED100 million (US$27 million) on the hotel, which includes 80 rooms, a fitness centre, sauna and swimming pools.

Al Waleed Investment's hospitality portfolio has expanded to include six properties comprising 500 keys: 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.

It's a difficult time for hotels in the city. As of June 2020, 16 percent of the UAE’s hotels tracked by UAE-based consultancy firm Cavendish Maxwell had either closed or operated at minimum capacity. On a room basis, 27 percent had closed in Dubai vs eight percent in Abu Dhabi.

In the same month, Dubai’s RevPAR crashed by 73.5 percent compared to June 2019, with Abu Dhabi’s falling by 13.6 percent. Abu Dhabi’s resort industry in particular saw RevPAR fall by 48 percent, while Ras Al Khaimah and Fujairah stood at -32 percent and -42 percent respectively.

For all the latest hospitality news from UAE, Gulf countries and around the world, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page.

Most Popular

Newsletter