Rotana announced plans to open seven new hotels in Dubai, four hotels in the capital Abu Dhabi and one in Ras Al Khaimah by the end of 2020. Six of the upcoming properties will be five-star hotels, with the remaining properties comprising of a mix of four and three star hotels and hotel apartments.
Upon completion, the new hotels will add 4,360 keys to Rotana’s existing inventory, taking its fast expanding portfolio in the UAE to 44 properties, including 21 in Dubai and 17 in Abu Dhabi, with a room inventory of 11,782 (6,682 in Dubai alone and 5,100 in Abu Dhabi).
The total value of the 12 upcoming properties managed by Rotana in the UAE is estimated at USD 1.7 billion.
Despite the challenging economic environment, the outlook for the hospitality sector in Dubai and Abu Dhabi remains positive. In previous UAE Real Estate 2016 mid-year market reviews, global consultancy firms listed the medium-to-long term outlook for the hospitality sector in Dubai and Abu Dhabi as positive, citing the opening of theme parks and new tourist attractions as the main factors driving demand.