Jumeirah to Build Hotels in U.S.
DUBAI, January 16, 2006. Jumeirah, part of Dubai Holding, the Dubai-based real estate firm, in a move to expand its real estate portfolio will open up to five luxury hotels in North America as part of its 40-hotel rollout plan for the next four years, according to a report in Dubai Real Estate News.
The Dubai-based company formally took over the management of the famous Essex House hotel in New York recently, rebranding it Jumeirah Essex House, following a $500 million buyout by Dubai Investment Group from Strategic Hotel Capital in September last year. Jumeirah replaces Starwood as operator of the 605-room hotel bearing two brands Westin and St. Regis.
Jumeirah is part of Dubai Holding, Dubai Government's investment arm. Jumeirah's future growth plan is in tandem with Dubai Holding's future acquisition and expansion through its various development units Dubai Properties, Dubai International Properties, Dubai Investment Group and Dubai International Capital.
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