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Meera TIME Residence joins duo of successful branded residences as demand for apartment-style accommodation in UAE capital continues to grow; latest opening to capitalise on prime seafacing location and central location on popular corniche
UAE-headquartered hospitality company, TIME Hotels Management, has added a third TIME Residence to its expanding Abu Dhabi portfolio of serviced accommodation options with the opening of the Meera TIME Residence.
The new 312-unit Residence occupies a prime Gulf-facing position along the popular Abu Dhabi Corniche, with a choice of 39 studios, 195 one-bedroom and 78 two-bedroom apartments.
TIME Hotels' already operates two branded Residences in the UAE capital, the Zakher TIME Residence and TIME Pearl Residence, both of which target long stay business travellers and families looking for flexible, quality-led accommodation in the urban heart of the city.
"The success of our two existing locations reflects the growing appeal of residence and hotel apartment alternatives to a traditional hotel environment, and the potential for further development of this operational model under the TIME umbrella, as the emirate aims for 3.5 million visitors in 2015," said Mohamed Awadalla, CEO, TIME Hotels.
Awadalla noted that the Pearl TIME Residence recorded positive occupancy levels of up to 85% in 2014, and the recently opened Zakher TIME Residence is also performing well.
According to January to November 2014 statistics released by the Abu Dhabi Tourism & Culture Authority (TCA-Abu Dhabi), hotel apartments in the emirate registered a 3% year-on-year increase in guests, rising to a total of 349,928 guests, and a 12% increase in room nights to 2,281,906.
There was also an 8% increase in the average length of stay to 6.52 nights, up from 6.03 and 4% growth in occupany, which hit an impressive 83% (up from 80%), plus a 9% increase in revenue to AED 603 million.
UAE nationals remain the number one source market for the emirate's hospitality sector, followed by India, the UK, Germany and the USA. Since 2013, hoever, the Chinese market has seen significant growth, with Chinese visitor numbers up by 169%, putting them in eighth positon in the emirate's top 10 of hotel guest geographical origin.
Similarly targeting long-stay guests and family groups, the Meera TIME Residence units include a fully fitted kitchen with fridge and dishwasher plus 24-hour security, housekeeping services, in-room safes, guest relations support, LED televisions, designated parking and a modern state-of-the-art fitness centre with swimming pool, gym and steam/sauna facilities.
"We are extremely bullish about the prospects for the Meera TIME Residence, especially given its high profile central seafacing location overlooking the excitement of the Abu Dhabi corniche with its various leisure options, which include cycle paths and green spaces, and close proximity to the city's major commercial areas and entertainment destinations," said Awadalla.
Abu Dhabi International Airport is located within 40 minutes drive with the action of Yas Island only 30 minutes away. The Residence is also situated equidistant to both Abu Dhabi Mall and Marina Mall, as well as being just five minutes from the Sheikh Khalifa Energy Complex and Zayed Port.
A fourth property, the 264-unit Jouharaaa TIME Residence, is scheduled to open in Abu Dhabi in early 2016," he added.
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For more information, please log onto www.timehotels.ae/ . You can also follow TIME Hotels Management on:
About TIME Hotels Management:
TIME Hotels LLC currently manages the following properties:
- TIME Oak Hotel & Suites in Al Barsha, Dubai
- TIME Grand Plaza Hotel in Al Qusais, Dubai
- TIME Opal Hotel Apartments, Dubai
- TIME Crystal Hotel Apartments, Dubai
- TIME Topaz Hotel Apartments, Dubai
- TIME Ruby Hotel Apartments, Sharjah
- Pearl TIME Residence, Abu Dhabi
- TIME Renero Resort and Suites Azzurra- Hurghada Egypt
- Abu Dhabi, UAE - Meera TIME Residence
Hotels in the pipeline:
- Wafi, Dubai, UAE - TIME Royal Hotel
- Luxor, Egypt - TIME TUT Hotel
- Doha, Qatar - TIME Rako Hotel
- Abu Dhabi, UAE - Zakher TIME Residence
Media contact:
Jack Dulka
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Shamal Marketing Communications
Dubai, United Arab Emirates
Tel: +971 4 3652711
Mobile: +971 50 5529104
E-mail: jack@smc-pr.com
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© Press Release 2015
