Dubai-based Byblos Hospitality has revealed that it is planning to build the Palm Jumeirah’s first budget hotel. The new 144-room low cost hotel will cost less than $50m to develop and will be situated on the trunk of the island opposite the One and Only Royal Mirage Hotel. The hotel is expected to be 4 star in category.

PalmJumeirah“The Palm Jumeirah property will cater to tourists mainly but also to meetings and events [sector],” said Jean Samman, the chairman of Byblos Hospitality to The National newspaper.

“Most of the beach hotels are five-star properties but with the new destinations that [Dubai’s Department of Tourism and Commerce Marketing] and Emirates Airlines have opened up for Dubai, the tourist volumes have increased and budget accommodations are needed now; moreover, four-star hotels do not need huge investments.”