New hospitality openings to generate 'strong uplift' in TDIC earnings

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05 Jul 2012

New hospitality openings to generate 'strong uplift' in TDIC earnings

BY Pete Hayman

New hospitality openings to generate 'strong uplift' in TDIC earnings

Image: Eastern Mangroves Hotel and Spa by Anantara is one of TDIC's recent hospitality openings

United Arab Emirates-based Tourism Development and Investment Company (TDIC) has said that newly-opened hospitality properties are expected to boost its earnings this year.

According to the company, the completion of hospitality assets as part of Saadiyat Island - its flagship project - and across Abu Dhabi will "will provide a strong uplift".

St Regis Saadiyat Island Resort and Park Hyatt Abu Dhabi Hotel and Villas are among the now completed Saadiyat Island projects, along with the Monte-Carlo Beach Club.

Meanwhile, the Eastern Mangroves Hotel and Spa by Anantara has recently opened as part of TDIC's integrated hotel, marina and residential development in Abu Dhabi.

TDIC executive director of strategic performance Sultan Mohamad Al Mahmood said: "2011 was a very significant year for TDIC, as we delivered a number of our high-profile hospitality assets in Saadiyat and Abu Dhabi.

"These newly-opened properties began to stabilise by the end of 2011, and looking forward to 2012, will provide a strong uplift to the company's earnings."

Details: www.tdic.ae

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