Damac, Paramount launch $1bn hotel project
Berlin, March 7, 2013
Paramount Hotels and Resorts, the official licensee of Paramount Pictures, and Damac Properties have announced the launch of the first Paramount-branded hotel in the Middle East in Dubai.
The ‘DAMAC Towers by Paramount’ will comprise a 540 key Paramount Hotel & Residences and more than 1,400 units of Damac Maison – Paramount co-branded serviced hotel residences located in the heart of the downtown Burj Khalifa area in Dubai, a new tourism hotspot.
The $1 billion project is currently under construction, and once completed by the end of 2015, will provide enviable views of the world’s tallest tower, the Burj Khalifa and provide easy access to one of the world’s largest shopping malls, The Dubai Mall.
This area welcomed more than 65 million visitors in 2012, an increase of over 20 percent compared to 2011.
Speaking at ITB Berlin, the world’s leading travel trade show, Damac Properties managing director Ziad El Chaar, said: “The history, glamour and tradition of the movies indirectly transcend every element of the design and ethos of this aspirational project. We will employ the same, tried and tested production process, pioneered by Paramount Pictures at the studio, to direct, design and detail a world-class experience. The Paramount brand stands for more than exceptional film and entertainment: it’s an inviting lifestyle.”
The four towers which make up ‘DAMAC Towers by Paramount’ are brought together with a multi-level plaza, offering an eclectic selection of themed food and beverage concepts, meeting and events facilities, a screening room, wellness & fitness centres, swimming pools, kids club, retail, and merchandise all featuring the Paramount brand or select partner brands. Each tower will be over 250 m tall.
One tower will comprise the Paramount Hotel & Residences with the remaining three towers, housing the DAMAC Maison – Paramount co-branded serviced Hotel Residences.
“Most people know the famous Paramount Pictures logo, with the mountain and 22 stars, and they also watched many of the iconic movies the studio produced. The hotels, resorts and residences produced by PHR FZ-LLC will be developed using the creative process honed over Paramount’s 100 year history. Warm service, design, entertainment, food, beverage and spa concepts will combine magically to mark a new chapter for the brand and to set a rare standard in luxury hospitality,” said Thomas van Vliet, chief executive officer, PHR FZ-LLC.
The serviced hotel residences will feature fully-fitted kitchens and services that also include valet parking, concierge, housekeeping, in-room beauty treatments, a child minding service and kids club. In addition owners can elect to add their residence in the ‘rental pool’ whilst they are away, allowing for rental returns to be generated.
Damac Properties has completed 37 buildings to date with 7,817 units and has a further 66 buildings at various stages of progress across the Middle East and North Africa region. These consist of 12,100 units. – TradeArabia News Service