Financial Daily from THE HINDU group of publications
Friday, Apr 08, 2005
Financial Daily from THE HINDU group of publications Friday, Apr 08, 2005 |
|
|
|
|
|
Corporate
-
Alliances & Joint Ventures Taj, ETA Star tie up to develop luxury resort Our Bureau
Mr Raymond Bickson (right), Managing Director, Indian Hotels Company Ltd, and Mr Jean Gabriel Peres, President & CEO, Movenpick Hotel & Resorts, at a `1st Hotel Investment Conference South Asia' (HICSA) 2005 in Mumbai on Thursday. — Shashi Ashiwal
Mumbai , April 7 TAJ Hotels Resorts and Palaces has extended its presence in West Asia by entering into a strategic tie-up with ETA Star Property Developers LLC for the development and management of the Taj Exotica Resort and Spa, a luxury resort at the Palm Island Jumeirah crescent in Dubai. An official statement quoting Mr Raymond Bickson, Managing Director, Indian Hotels Company Ltd, said, "This is part of IHCL's strategy of expanding into the key gateway cities of the world. Dubai is fast emerging as a leisure destination in addition to being the commercial hub of the region. A second hotel in Dubai is proof of the vast potential that it holds. This new luxury resort will reinforce Taj's dominance of the region." To be unveiled in 2007, the Taj Exotica Resort & Spa, Dubai, will be targeting the premium leisure and business travellers. The resort will offer part views of the ocean, Burj Al Arab and the Dubai skyline. The resort will commence operations with 220 rooms including deluxe guestrooms and luxurious suites, providing guests with all the modern-day facilities and services including specialty F&B outlets, extensive banquet areas, a spa, an entertainment club and car parking. It is proposed to draw inspiration from the palaces of India and weave in influences that have characteristics of West Asian region. The Palm Island Jumeirah is a man-made island that has increased the shoreline of Dubai by 120 km. The palm-shaped island has been developed as a commercial cum residential project with spectacular homes, waterfront resorts, boutique hotels, shopping, spas, marinas and dynamic canals dotting it. The statement quoting Mr Abid Junaid, Executive Director, ETA Star Properties, said: "ETA Star has been quick to enter the UAE's property scene with residential and commercial projects in advanced stages of development. The partnership with the Taj Group for the launch of a luxury resort at the Palm Island Jumeirah will further strengthen ETA Star's position in Dubai's property market." Taj Hotels Resorts and Palaces' current portfolio in West Asia includes the Taj Palace Hotel in Dubai; the Taj Sheba Hotel, Sana`a in Yemen and the Sohar Beach Hotel in Oman. ETA Star Property Developers LLC is the property development arm of the ETA - Ascon Group. The prime objective of the company is to harness the growing commercial opportunity in Dubai's freehold market.
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|