UAE-headquartered TIME Hotels has revealed plans to expand its portfolio to 30 properties by 2025.
The hospitality firm is set to open eight properties in the Middle East and the Indian Ocean, over the next 18 months, according to a statement.
“Three of these hotels will open in the UAE this year, while the rest of the properties will be in other markets including Saudi Arabia, Egypt and Mauritius,” the statement said.
“We currently have 14 properties consisting of 1,465 keys in operation across the UAE and wider GCC with new additional properties opening this year in Dubai, Sharjah, Fujairah, Saudi Arabia and Egypt,” said Mohamed Awadalla, CEO of TIME Hotels.
“Our goal is to expand our portfolio to 30 properties by 2025,” he added.
The three hotels that will be welcoming new guests this year in the UAE are the TIME Moonstone Hotel Apartments in Fujairah, Time Burj Al Saadah Hotel Apartment sin Sharjah and TIME Asma Hotel in Al Barsha, Dubai.
Later this year, the firm will also be opening its first two hotels in Egypt, the five-star TIME Coral Resort Nuweiba in the Red Sea and the four-star TIME Marina Hotel & Conference Centre near Al Alamein on the Mediterranean coast.
In Saudi Arabia, the hospitality firm will soon take over the management of two boutique Riyadh hotels, the TIME Elite Suites in Al Muruj and the TIME Express Olaya Hotel in the Olaya district.
Next year, the 120-roomTIME Phoenix Hill will open in Mauritius, bringing the company’s overall portfolio to 22 hotels by the end of 2022.
The company did not disclose any details of the other properties that will be added by 2025.
Further details of the planned eight hotel openings by 2022 will be unveiled during the Arabian Travel Market 2021, which is taking place at the Dubai World Trade Centre from May 16 to 19.
(Writing by Cleofe Maceda; editing by Seban Scaria)
Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.
© ZAWYA 2021