Jumeirah Group to sign first Venu hotel by year-end
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Jumeirah Group expects to sign a management agreement for the first hotel under its four-star brand – Venu, in the next two months, according the Group’s top executive.
In September, the luxury hotel group said it was in talks with developer Meraas Holding to operate a Venu hotel on Bluewaters Island, a mixed-use development off the cost of Jumeirah Beach Residence.
Jumeirah revived its Venu brand in September after it was scrapped in 2011, only a year after its launch, in the aftermath of the global financial crisis. But with recovery of the UAE economy, the group sees that it is now the right time to reinstate the brand.
Jumeirah is in discussions with other UAE investors to operate Venu hotels, whom officials declined to name. However, a signed management agreement is expected for a second Venu hotel in the country within the next six months.
Venu hotels are likely to open in Dubai Design District, which is being developed by TECOM Investments and Dubai Holding‘s Mall of the World, which will be linked to 100 hotels. Jumeirah is also keen on introducing the brand in Abu Dhabi and the Northern Emirates, besides European markets, such as London, Barcelona, Madrid, Berlin and Rome, as well as Asia and Africa. The group aims to have 40 hotels in operation under the Jumeirah and Venu brands globally by 2018.
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