Abu Dhabi-based real estate developer Aldar is making a significant investment of Dh1.5 billion ($408 million) to revamp its hotel portfolio. This initiative aims to cater to the increasing demand for luxury hospitality experiences in the region.
Key properties under Aldar’s umbrella are set for major transformations. The Eastern Mangroves hotel will be rebranded as a Waldorf Astoria luxury resort, featuring a new retail mix. Additionally, the Yas Plaza Hotels complex will be reimagined under the IHG brand, becoming the largest Vignette Collection resort globally.
Other properties will also undergo significant changes. The Tilal Liwa will be redeveloped into a Vignette Collection luxury desert escape, and Nurai Island will see a major refurbishment and expansion. Aldar’s flagship hotels in Ras Al Khaimah, including the Rixos Bab Al Bahr and DoubleTree by Hilton Resort & Spa Marjan Island, are also set for updates.
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 in line with Abu Dhabi’s plan to boost visitor numbers to 39.3 million by 2030 .
Recently, a UN report found international tourism has returned to 96% of pre-pandemic levels in the first seven months of 2024. The Middle East showed the strongest regional growth, with international arrivals up 26% compared to 2019.
