DUBAI – Emaar Properties has signaled a rapid expansion of its hotel portfolio and is actively looking for opportunities in Asia.
Marc Dardenne, chief executive of the Emaar Hospitality Group, said the company’s aim was to have 60 properties in the next 10 years, 12 of them by 2012. They will be managed under The Address brand.
Emaar currently manages two hotels in Dubai and will open The Address Dubai Mall and The Address Dubai Marina later this year.
It also has plans to open its first hotel, golf course and private residences development in Europe, with the conversion of a chateau and vineyard property in the south of France.
Dardenne said Emaar would expand the global footprint of The Address brand and Asia was a priority target.
“If our clients travelled to Asia and there was not an Address hotel for them to stay at, they would stay elsewhere and we could lose their loyalty,†Dardenne added.
