Date: June 2018
Location: Yas Island, Abu Dhabi, UAE
Name: The Yas Viceroy, to become The W.
In July 2017, the Viceroy on Dubai’s Palm Jumeirah was taken over by its owners Five Holdings.
FIVE Holdings is a Dubai-based real estate group that operates across four verticals – development, hospitality, restructuring and investment. They launched FIVE Hotels & Resorts in June 2017.
Since then, the dispute between the operator and Five Holdings has continued, and Five Holdings has also taken over operations of the under-construction Jumeirah Village property which had previously been signed with Viceroy as an operator.
Viceroy Hotels and Resorts first entered the market in 2011 by signing the deal to take over the Yas Island Hotel.
Aldar Properties chief executive officer Talal Al Dhiyebi said in a statement: “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 president and managing director, Middle East and Africa Alex Kyriakidis 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 mind-set of the brand into a vibrant destination such as Yas Island.”
This property, which overlooks the Formula 1 Abu Dhabi Grand Prix race track, marks Marriott International’s 13th property in Abu Dhabi, and is one of seven hotels owned by Aldar on the island, including the Yas Crowne Plaza, Yas Centro, Yas Links and the Yas Park Inn.
Aldar Properties PJSC, is a leading real estate developer in Abu Dhabi, and through its iconic developments, it is one of the most well known in the United Arab Emirates, and wider Middle East region.
Started in 2005, Aldar has developed the HQ building situated in the Al Raha Beach development, the Gate Towers in Shams Abu Dhabi on Al Reem Island, The Mall at the World Trade Centre Abu Dhabi, in addition to Yas Island’s F1 circuit.
However Aldar and Viceroy still working on an Abu Dhabi hotel project
Aldar has released a statement revealing that it is still working with the Viceroy Hotel Group on another project in Abu Dhabi.
The statement did not mention what the project is, where it is located, or when it is scheduled for opening. It said more details “be announced in due course”.
In the official statement, Aldar Properties chief investment officer Jassem Busaibe said: “We are pleased to continue our relationship with Viceroy Hotel Group on this hospitality project in line with our strategy to leverage partnerships with international operators and brands for our portfolio of eleven hotels.”
Viceroy Hotel Group CEO Bill Walshe also said: “We are excited by what the next chapter brings for Viceroy Hotel Group in the region. Aldar has been and will continue to be a very important partner. We look forward to working with them in the drive to position Abu Dhabi globally.”
THPT Comment: Glad to see that peace seems to have broken out between Viceroy and Aldar, and Viceroy get a presence back again in Abu Dhabi.
First Seen: Hotelier Middle East