Real Estate

Brand to make debut

November 2015

Marriott International has signed its first property from the Residence Inn brand portfolio in the UAE with the Residence Inn by Marriott Al Jaddaf maintaining the pace of its regional development plans.

The newly property is owned by Bahrain-based International Trading and Investment Company (ITICO), an existing partner of Marriott International which currently owns two other properties – Residence Inn by Marriott Manama Juffair and Marriott Executive Apartments Manama. ITICO has also recently signed its third property in Bahrain with Marriott International, Residence Inn by Marriott Manama Seef.

Due for completion in 2019, the Residence Inn by Marriott Al Jaddaf will comprised a total of 135 units.

Commenting on the signing, Alex Kyriakidis, president and managing director, Middle East and Africa, Marriott International says: “This signing is a significant event for us as it represents the company’s first Residence Inn by Marriott property in the UAE and comes in response to a rapidly increasing demand in the market. Today it’s not only the executive traveller who seeks out an extended stay property, but also young families who are looking for a home-like environment where they can still experience the comfort and convenience that they would benefit from in a hotel, such as free wi-fi and hot breakfasts.”

Sheikh Mohammed bin Abdulrahman Al Khalifa, chairman of ITICO, says: “We are very excited to develop the first Residence Inn by Marriott in the UAE after the great success we had with the brand in Bahrain.”

The announcement comes shortly after the recent GCC sales mission where Marriott International reaffirmed its plans to add a further 79 properties and 16,415 rooms within the region by 2020, an expansion which includes an increase of the UAE footprint to 25 properties.

The company’s amplified development plans have been defined in line with regional and global market trends. According to the Department of Tourism and Commerce Marketing (DTCM), a total of 13.2 million tourists visited Dubai in 2014, representing year-on-year growth of 8.2 percent and almost double the global average of 4.7 percent. In particular the extended market segment has seen a healthily increasing demand as occupancy hit record levels last year globally.

With almost 700 properties globally, the Residence Inn by Marriott brand has offers a contemporary residence with all the essential amenities as well as the elements of a modern home.

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