Emaar enters timeshare market
Dubai, May 20, 2008
Emaar Hospitality Group, a business subsidiary of Emaar Properties, has announces plans to enter the timeshare market.
A regional pioneer in the fast-growing tourism segment, Emaar Hospitality Group will soon unveil its timeshare roster encompassing serviced residences and custom-designed resorts in Dubai, a statement said.
Emaar Hospitality Group also plans to expand its timeshare business to other countries in the region too, where the company is currently developing master-planned communities with hospitality and leisure components. These key timeshare markets will include Morocco, Jordan, Saudi Arabia, India, Turkey, Egypt and Indonesia.
Mohamed Ali Alabbar, chairman, Emaar Properties, said: “The timeshare market in Dubai is poised for exponential growth with booming inbound tourists driving the demand for spacious accommodation that hotels cannot fully meet.”
He added: “Emaar already has an extensive hospitality and leisure portfolio featuring several hotels and serviced apartments. Additionally, we plan to develop dedicated timeshare resorts. Emaar is finalising the modalities of the timeshare business in line with the guidelines of the Dubai Government and also putting in place a special team to support the initiative.”
Marc Dardenne, chief executive officer, Emaar Hospitality Group, said: “A recent survey by NorthCourse Research Firm reveals that Dubai, followed by Sharm El Sheikh and Makkah, is the most preferred timeshare location in the Middle East region. Emaar Hospitality Group is pioneering the move to this promising market, which also brings in the benefits of guaranteed room revenues and assured occupancy post-opening to resorts that we are planning exclusively for timeshare business.” – TradeArabia News Service
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