Dubai's Address Downtown hotel, which was damaged in a fire on New Year's Eve, will not reopen this year, an executive at the hospitality group of operator Emaar Properties said on Monday.

There had been no negative impact on Emaar's balance sheet from the hotel's temporary closure, Chris Newman, Emaar Hospitality Group director of operations, told reporters.

Fire engulfed the 63-storey hotel and residential tower on New Year's Eve.  - Reuters