Dubai, United Arab Emirates – Valor Hospitality Partners Middle East recently announced its highly anticipated partnership with the Hospitality & Leisure vertical of the Investment Corporation of Dubai (ICD), the main investment arm of the Government of Dubai, which manages a portfolio of trading and investment companies.
With the joint venture firmly in place, Valor Hospitality has begun the operational transition of over 800 keys at popular and established hotels in the emirate, including Dubai’s first five-star property, the Radisson Blu Hotel Dubai Deira Creek and 3 hotels Wyndham Deira. These properties, which will retain their existing brands, will be added to Valor’s portfolio of operating and pipeline properties in the region. Valor Hospitality operates more than 85 properties worldwide and enjoys preferred status or close partnerships with global hotel brands, working closely with owners to grow their assets.
“We are honored to manage these hotels which have been part of the landscape of Dubai for more or less time. We feel a sincere responsibility to our hotel guests, hotel teams and hotel brands during the transition processes,” said Euan McGlashan, Global CEO and Co-Founder of Valor Hospitality Partners. “We have a strong history of retaining team members during the operational management takeover process and remain committed to building employee culture, in addition to personal and professional growth,” continued McGlashan. .
A spokesperson for ICD said, “Valor Hospitality brings global knowledge of a unique business model to the region that we are excited to see unfold and grow. The agreement will help Valor grow in the region, strengthen its operations and implement its strategies with the addition of the 4 properties to the ICD portfolio.
“The Middle East, and Dubai in particular, continues to lead in hospitality and is a strong testing ground for brands entering or scaling their offering in the region,” said Julien Bergue, co-founder and managing partner of Valor. Middle East hotel partners. “There are 65,000 rooms under development in Dubai and working with our asset owners and leading brands to provide premier hospitality options for business and leisure travelers, while ensuring a business model solid for both parties, is our ultimate goal,” said Bergue. concluded.
ABOUT VALOR HOSPITALITY PARTNERS
Valor Hospitality Partners is a leading global third-party hotel management company, headquartered in Atlanta, GA, USA. With over 85 hotels in its portfolio across the Americas, UK, Africa and the Middle East, Valor is growing rapidly in the Middle East, CIS and Indian Ocean regions. Working closely with owners and international hotel franchise partners, Valor creates value through shared operating platforms in key markets, industry-leading value creation and support with additional services such as site selection, brand selection, financing solutions, design, project management, procurement, technical services and asset management. For more information, visit valorhospitality.com or connect with Valor on Facebook and LinkedIn.
ABOUT ICD HOSPITALITY AND LEISURE LLC
ICD Hospitality and Leisure LLC, a wholly owned subsidiary of Investment Corporation of Dubai (ICD), owns a select portfolio of major hotel assets in Dubai and around key international markets.
ICD Hospitality and Leisure selectively invests in leading hotels and plays a central role in Dubai’s economic engine. Its rich portfolio offers a wide range of travelers some of the best hospitality infrastructure in the world.
For more information on ICD’s hospitality and leisure portfolio, please visit: http://www.icd.gov.ae/
ABOUT DUBAI INVESTMENT COMPANY
Investment Corporation of Dubai (ICD) is the main investment arm of the Government of Dubai. It was established in May 2006 by Executive Order (11) of 2006 and mandated for the consolidation and management of the Government of Dubai’s portfolio of trading companies and investments. ICD has also been entrusted with the strategic oversight of portfolio companies through the development and implementation of effective corporate governance policies and sound investment strategies. ICD focuses on maximizing stakeholder value for the long-term benefit of the emirate.
ICD’s portfolio includes some of Dubai’s most recognized companies and represents a cross section of vital economic sectors that the Government of Dubai has deemed strategic for the continued development and growth of the emirate. Sectors include financial services, transportation, energy and industrials, real estate and construction, hospitality and leisure, retail and other assets. In addition, ICD has embarked on a disciplined and sustainable strategy of global investments, in synergy with its existing portfolio, to expand Dubai’s presence and expertise in international markets.
For more information, please visit: http://www.icd.gov.ae/