Millennium & Copthorne Hotels Continues Expansion in UAE
London-based Millennium & Copthorne Hotels has signed a deal with Deyaar Development, a United Arab Emirates-based real estate developer, to develop and operate new hotel projects, totaling 1,000 rooms. Deyaar Development has allocated approximately one million square feet of land for the hotel projects, as part of the company's growth strategy.
The announcement comes at a time when the region, especially Dubai, already has a robust inventory. In 2014, Deyaar entered the hospitality field with its first project, the Atria in Dubai's Business Bay district. That project, a luxury mixed-use hotel and residence tower, which is being co-designed by designer Philippe Starck, is expected to open in May 2017.
With this partnership, Millennium & Copthorne Hotels is expanding its presence in the region. The company recently announced it had signed development deals for four new hotels Madina, Saudi Arabia. The projects include two Millennium hotels, a Studio M, and a Millennium Executive Apartments. The four hotels will anchor Knowledge Economic City, a US$7 billion development project scheduled to open in 2020, which will include a university, a museum, a wellness center, and a mosque that will hold 10,000 people.
In addition, Millennium and Copthorne is expected to open three new hotels in Abu Dhabi over the next three years, which will add another 1,300 rooms to the region. "We have aggressive growth plans for the Middle East and Africa region, with an aim to open 100 hotels by 2020," said Ali Hamad Lakhraim Alzaabi, the president and CEO of Millennium and Copthorne Hotels for the Middle East and Africa, in a statement announcing the Deyaar Development partnership.