UAE – Mubasher: DAMAC Hotels and Resorts, the hospitality arm of DAMAC Properties, on Sunday announced that it has signed a partnership with Rotana Hotel Management Corporation, a leading regional name in hospitality, during the opening of the Arabian Travel Market (ATM 2019).
Under the deal, DAMAC Towers Arjaan by Rotana, Riyadh, will be operated under the Arjaan Hotel Apartments by Rotana brand, according to DAMAC’s statement.
"Our partnership with Rotana will help us realise our vision of offering unrivalled investment opportunities in the hospitality industry. The Kingdom sees continued growth in the travel sector, which is driven primarily by leisure, pilgrim, and corporate visitors, and we are confident that this partnership will translate to renewed value for investors and differentiated experiences for our guests," Ali Sajwani, general manager of operations at DAMAC, said.
Guy Hutchinson, the acting CEO of Rotana, noted that the deal comes along with the Kingdom's Vision 2030, achieving the goals of the National Transformation Program 2020.
"DAMAC Towers Arjaan by Rotana in Riyadh looks forward to welcoming guests while supporting the diversification of the Kingdom’s hospitality offering, characterized by Rotana’s personal touch developed for long-term guests and families," Hutchinson added.
DAMAC Hotels’ agreement with Rotana will further boost investors’ confidence through an attractive rental pool programme.
“DAMAC Towers Arjaan by Rotana, Riyadh is the first property to be included in the agreement and comprises of two towers that offer deluxe serviced apartments and a collection of penthouses,” the statement highlighted.
The 26th edition of the ATM 2019 kicked off in Dubai on Sunday, 28 April, at the Dubai World Trade Centre (DWTC).
Ending on 1 May, the event will host up to 2,500 exhibiting companies and an expected 40,000 attendees, with over 150 countries represented, and 65 national pavilions.
