Time Hotels secures six management deals
Dubai, February 29, 2012
Time Hotels Management, a new Dubai-based hospitality company, has secured management contracts for six hotel properties in the UAE.
The properties include two hotels: Time Oak Hotel & Suites in Al Barsha and Time Grand Plaza Hotel in Al Qusais, and four hotel apartments: the Opal, Topaz and Crystal Hotel Apartments in Dubai, and the Ruby Hotel Apartments in Sharjah. The properties comprise a total of 745 rooms, and employ over 385 staff, said a statement.
Time Hotels Management is well-capitalised with significant management expertise and has ambitions to evolve into one of the leading hospitality businesses in the UAE, it said.
Mohamed Awadalla, area vice president of Time, said: “Time Hotels is an ambitious, forward-thinking hospitality company with plans to expand and strengthen our brand identity by using these six properties as a platform for further growth in the region to target business and leisure travellers, particularly those from neighbouring GCC states.”
Time is owned by the public shareholding company Gulf General Investment Company (GGICO) and Investment Group Private Ltd (IGPL). It has an estimated turnover of $27 million a year. – TradeArabia News Service
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