Abu Dhabi property developer Al Dar is spending AED 1.5 billion ($408 million) to renovate its existing hotel portfolio to cater to the growing luxury segment.
Aldar said in an ADX disclosure that existing properties such as the Eastern Mangroves Hotel will become Waldorf Astoria-branded luxury resorts with a new retail mix, while the Yas Plaza Hotel concept will be re-imagined under the IHG brand and the six-hotel complex will become the world’s largest Vignette Collection resort.
Other Al Dar properties will also be renovated, with Tilal Liwa set to be redeveloped into a luxury desert resort under the Vignette Collection, and Nurai Island set to undergo a “major renovation and expansion”.
The company’s flagship hotels in Ras Al Khaimah, Rixos Bab Al Bahr and DoubleTree by Hilton Resort & Spa Marjan Island, will also be renovated.
Al Dar group CEO Talal Al Dievi said the redevelopment of the hotel portfolio will “meet expected demand in the luxury sector and maximise the revenue potential of each asset”.
The move is also in line with Abu Dhabi’s plans to increase visitor numbers to 39.3 million by 2030.
(Writing by Bindu Rai; Editing by Sevan Scaria)
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