TIME Hotels Management recently announced the opening of its second TIME Residence-branded property as part of its regional expansion programme.
The Zakher TIME Residence offers 68 fully-furnished one-bedroom and studio apartments. The opening follows the unveiling of TIME Residence brand and launch of the TIME Pearl Residence, a 72 two-bedroom property.
“The opening brings the total number of branded hotel apartments in Abu Dhabi to 51, which, is in line with the emirate’s ambitious tourism growth agenda, presents equally exciting growth opportunities for residence-style accommodation,” said Mohamed Awadalla, CEO, TIME Hotels.
Occupancy levels also rose year-on-year for January to July 2014 by six percent to touch 94%, up from 78% with a healthy nine percent rise in revenue to AED 367 million. The nationality mix similarly registered some interesting statistics, with UAE nationals topping the charts as the number one source market followed by India, UK, Germany and the USA.
“Our pipeline of TIME Residences will be further boosted by two more Abu Dhabi locations coming up – the 312-unit Meera Residence and the 264-unit Jouharaaa Residence, which is scheduled to open in early 2016,” added Awadalla.