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Abu Dhabi real estate developer Aldar is giving its existing hotel portfolio a 1.5 billion UAE dirhams ($408 million) makeover to cater to the growing luxury segment.
Existing properties such as the Eastern Mangroves hotel will become a Waldorf Astoria branded luxury resort with a new retail mix, while the Yas Plaza Hotels concept will be reimagined under the IHG brand, turning the six-hotel complex into the largest Vignette Collection resort in the world, Aldar said in an ADX disclosure.
Other properties under the Aldar umbrella will also undergo a transformation with the Tilal Liwa to be redeveloped as a Vignette Collection luxury desert escape, while the Nurai Island will also undergo a “major refurbishment and expansion”.
The company’s flagship hotels in Ras Al Khaimah, the Rixos Bab Al Bahr and DoubleTree by Hilton Resort & Spa Marjan Island are also set to be updated.
Talal Al Dhiyebi, Group CEO of Aldar, said the redevelopment of the hotel portfolio will meet “expected demand in the luxury segment, while maximising the revenue potential of each asset.”
The move is also in line with Abu Dhabi’s plan to boost visitor numbers to 39.3 million by 2030.
(Writing by Bindu Rai, editing by Seban Scaria)
