TIME Hotels Management, a new Dubai-based hospitality company focusing on contemporary four-star hotels and hotel apartments, has announced that it has successfully secured the management contracts for six hotel properties in the UAE. The properties include two hotels: Time Oak Hotel & Suites in Al Barsha, and Time Grand Plaza Hotel in Al Qusais, and four hotel apartments: the Opal, Topaz and Crystal Hotel Apartments in Dubai, and the Ruby Hotel Apartments in Sharjah.
Mohamed Awadalla, area vice president of Time, said: “We are responsible for managing all aspects of the hotel operations from front office and food and beverage to finance and IT. Although all six properties will continue to operate as usual, naturally we will be looking to improve efficiency and raise quality standards wherever possible, putting guests first.”
Time Hotels Management is owned by the public shareholding company Gulf General Investment Company (GGICO) and Investment Group Private Ltd (IGPL), and estimate a turnover of approximately $27 million during the current financial year. The properties situated in Dubai and Sharjah comprise 745 rooms, and employ over 385 staff.
“The four-star hotel and hotel apartment market has witnessed substantial growth in the UAE since 2008 and caters for the needs of mid-management corporate and long-staying guests as well appealing to leisure visitors, especially GCC families. As the needs of regional and international travellers continue to diversify, the four-star hospitality market is increasingly sought after,” added Awadalla.
Time’s entrance into the hospitality industry comes at a time when the travel and tourism, and hospitality industries are thriving in the UAE. Time Hotels Management is well-capitalised with significant management expertise and has ambitions to evolve into one of the leading hospitality businesses in the UAE by adding to its portfolio of regional hotels.
“I’m looking forward to the challenge of bringing our services to a new audience and developing stronger relationships with existing ones,” added Awadalla.