TIME Hotels Management, a new Dubai-based hospitality company secured the 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.
“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,” said Mohamed Awadalla, area VP, TIME.
“Although all six properties will continue to operate as a matter of course, we will of course be looking to improve efficiency and raise quality standards wherever possible, putting guests first.”
TIME Hotels Management are owned by the public shareholding company Gulf General Investment Company (GGICO) and Investment Group Private Ltd (IGPL), and estimate a turnover of approximately $27 million (AED 100 million), during the current financial year.
According to the latest industry forecast issued by international industry consultant Business Monitor International (BMI), the number of foreign tourists heading to the UAE this year is expected to reach almost nine million.