Aldar Properties has appointed Marriott International to manage one of its prime properties on the tourist hot spot, Yas Island.
With AED 20 billion on its real estate portfolio and an aggressive asset management strategy, Aldar’s standalone hotel will be flagged under W Hotels – the brand’s debut in Abu Dhabi. Starting on 1 July 2018, Marriott International will assume operation of the Yas Island hotel, which will go through a refurbishment period while remaining open to guests. It will be refreshed and redesigned, with upgrades to its lobby and pool facilities, as per W Hotels’ brand standards.
“Our strategy to employ the most reputable international operators”
Commenting on the announcement, Talal Al Dhiyebi, CEO of Aldar Properties, said: “Appointing Marriott International to manage the operations of our Yas Island hotel supports our strategy to employ the most reputable international operators and reflects our active approach to the management of our portfolio.
“Marriott International’s experience will ensure guests have a memorable stay at our world-class hotel while driving value for our Asset Management business.”
The hotel overlooks the Formula 1 Abu Dhabi Grand Prix race track – a key component of Aldar’s Yas Island destination strategy. Moreover, the island is expecting the opening of Warner Bros. World Abu Dhabi next month, which will be another addition to its world-class entertainment and leisure attractions. This will drive more UAE residents and global tourists to the destination, where Aldar currently has a portfolio of seven hotels.
“A new dimension to the luxury and lifestyle hospitality offering”
Alex Kyriakidis, president and managing director, Middle East and Africa, Marriott International added: “We are delighted to work with Aldar to introduce W Hotels on Yas Island, bringing a new dimension to the luxury and lifestyle hospitality offering on the iconic landmark.
“Marriott International and Aldar share a similar vision for this project and we look forward to infusing the energy and innovative mindset of the brand into a vibrant destination such as Yas Island.”
Yas Island is now set to become one of the top destinations in the world. Abu Dhabi’s media and entertainment zone is also relocating its state-of-the-art facilities to Yas Island and has appointed Aldar as its strategic real estate partner.
The first phase of the new free zone is valued at approximately AED 1 billion and is set to grow with a target of attracting 10,000 working professionals from the media sector. This will form part of the AED 12 billion Yas Bay master development – a waterfront and entertainment district and an urban island community.
Aldar Properties is an Abu Dhabi-based property development, investment and management firm. Early last month, the company made one of the biggest real estate purchases in the history of the UAE.