Giorgio Armani SpA and Emaar Hotels and Resorts’ respective chairmen, Giorgio Armani and Mohamed Ali Alabbar, have executed the formal contractual agreement between the two companies for the development of a unique international collection of ‘Armani Hotels and Resorts’.
Under the terms of the agreement, Giorgio Armani S.p.A. is awarding a long term license to Emaar Hotel & Resorts LLC for the operation of a collection of luxury hotels and resorts, whereby Emaar will be fully responsible for real estate, construction, management and operations, with Giorgio Armani overseeing all aspects of content, design and style, including interiors and amenities, incorporating the various Armani fashion, furnishings and beauty collections.
Emaar Properties has established a wholly-owned subsidiary, the Emaar Hotels and Resorts, along with separate management company exclusively dedicated to the management and operations of the Armani Hotel and Resort collection.
Giorgio Armani SpA has also established an Armani Hotels and Resorts division at its headquarters in Milan, which has been actively developing the design concepts under the close supervision of Giorgio Armani, that will define the look and feel of the hotels and resorts.
The agreement foresees the opening of at least seven luxury hotels and three vacation resorts within the next ten years backed by an investment of over $1 billion from Emaar. The first hotel is expected to be opened by the first quarter of 2008 and it is already under construction being part of Emaar Properties’ Burj Dubai development, which when completed will be the world’s tallest residential and commercial building. The Dubai ‘Armani Hotel’ will include 175 guest rooms and suites restaurants and a spa, covering more than 40,000 sqm. Alongside the hotel, the Burj Dubai will offer 160 luxury residential apartments all designed by Giorgio Armani and fully furnished also with a specially designed line of products from the Armani Casa home furnishings collection. The tower is the centrepiece of a new 160 hectare community adjacent to the Dubai Mall. The schedule of openings to follow Dubai will be Milan, London, and New York along with the first resort.
Giorgio Armani said, “This marks the beginning of a new chapter in the Armani story. In this our thirtieth anniversary year, I cannot think of a more energising prospect than bringing my philosophy of style and design to a collection of hotels and resorts.”