Paramount Hotels unveils expansion strategy
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PHR-FZ LLC, under license by Paramount Licensing Inc is set to unveil details of its six upcoming developments. Inspired by Hollywood, the first property DAMAC Towers by Paramount Hotels & Resorts Dubai is set to open in 2016, the property will feature the 771- room Paramount Hotel Dubai and three 350-key serviced residences towers.
Mike Bartok, executive vice president licensing at Paramount Pictures said: “We look forward to the coming months as the tower superstructures take shape.”
PHR-FZ LLC currently has six properties under development across UAE, KSA, China and Malaysia. Scheduled to open in 2016, DAMAC Villas by Paramount Hotels & Resorts in Dubai will feature 163 villas designed by Paramount Hotels & Resorts and operated by DAMAC Maison. Paramount Hotel Jumeirah Waterfront is located in Dubai Maritime City and will feature a 404-room hotel as well as five restaurants and lounges. The 519-key, all-suite Paramount Resort Boao in China will open in 2017 and will be located adjacent to the resort’s Aquatic Park. The DAMAC Tower by Paramount Hotels & Resorts Riyadh is the group’s first residential project and will feature 235 residences designed by Paramount Hotels & Resorts.
The Group’s properties are designed to appeal to business, leisure, or both, based on dynamics of the local market.
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