R Hotels targets Dubai’s booming tourism market with Dh1.5bn investment | The National

R Hotels targets Dubai’s booming tourism market with Dh1.5bn investment | The National:

"R Hotels is planning a Dh1.5 billion expansion in Dubai as it seeks to exploit the emirate’s rapid increase in tourist arrivals.

Next month, the Ajman-based hotel arms of investment firm R Holding will open a 175-unit hotel at The Walk at Jumeirah Beach Residence, among the emerging destinations for hotel properties in Dubai.

In its first year of operations, the new hotel is expected to achieve 80 per cent occupancy and an average room rate of Dh700 to Dh900.

R Hotels owns, manages and operates two properties in Ajman and one in Dubai – all Sharia-compliant – under the Ramada brand name that belongs to the US-based Wyndham Hotel Group."

'via Blog this'