Bin Majid to spend $109m on four new hotels
New properties include new 265-bed Santorini hotel in Ras Al Khaimah
Bin Majid Hotels, the Ras Al Khaimah-based hotels operator, has said that it is planning to spend $109m (AED: 400m) on four new hotels in the UAE and a rebranding of its chain.
The company, which currently operates seven hotels and serviced apartments with 1,400 rooms, has said that new projects include The Tower Apartments in Abu Dhabi, which will have 230 rooms and suites.
The company's CEO, Dalal Saadeddine, also said that the firm will open its 265-room Santorini hotel in Ras Al Khaimah by the end of the year.
“The investment in the new developments are self-financed and no banks are involved so far,” he said.
“There’s a big potential in this industry and we are seeing a tremendous increase in the number of visitors choosing the UAE as their preferred tourism destination."