Jumeirah pulls out of Palm hotel deal
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Dubai-based hospitality giant Jumeirah Group has pulled out of a deal to manage a new five-star luxury resort on Palm Jumeirah.The Jumeirah Al Fattan Palm Resort was originally scheduled to open in 2009 but was hit by delays following the financial crisis of 2008. It is currently under construction on the Crescent – the man-made breakwater which also houses Atlantis, The Palm.According to a report in The National, the group and the property’s owner, Al Fattan Properties “amicably agreed to terminate this management agreement with no obligations outstanding on either side”.Turkish hospitality operator Rixos Hotels has reportedly been lined up to manage the property, which will now be known as the Rixos Residences Palm Jumeirah.The development marks the company’s first management deal in the UAE.
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