The company, listed on the Abu Dhabi Stock Exchange, said that this step comes within the group’s efforts to contribute to stimulating and enriching the growth of the tourism sector in Abu Dhabi and consolidating its position as a leading tourism and entertainment destination worldwide.
According to the statement, the company will direct these investments to upgrade its hotel assets and transform them into luxury resort-style properties, in response to the increasing demand for high-level hospitality experiences in light of the rapid growth of the tourism and entertainment sector in Abu Dhabi.
Will support The houseAs part of this strategic plan to upgrade its hotel assets, two international luxury hospitality brands have entered Abu Dhabi for the first time. Aldar has partnered with Hilton to operate the Eastern Mangroves Hotel under the Waldorf Astoria brand.
Yas Plaza and Desert Resort, formerly known as Tilal Liwa Hotel, will also be refurbished under the IHG Venet Collection brand, which features a selection of hotels offering exceptional guest experiences. Yas Plaza will become the largest Venet Collection hotel globally.
In 2023, the number of hotel guests in Abu Dhabi increased by 27 percent compared to the previous year, and the number of international visitors increased by 54 percent, which is part of the strategy of the Department of Culture and Tourism – Abu Dhabi, which aims to increase the number of visitors to 39.3 million visitors by 2030. This growth was driven by the opening of the new passenger terminal at Zayed International Airport, with a capacity of 45 million passengers, in addition to the great success achieved by the global attractions within the Saadiyat Cultural District and Yas Island.
Talal Al Dhiyebi, Group Chief Executive Officer of Aldar Properties, said: “We see a significant opportunity to upgrade our hotel portfolio to meet the growth expectations in the luxury hospitality sector, and ensure that the potential revenues of each hotel are increased. We look forward to providing our customers with the opportunity to experience two of the world’s finest luxury hospitality brands for the first time in Abu Dhabi.”
