Dubai, U.A.E: Valor Hospitality Partners Middle East recently announced their highly anticipated partnership with the Hospitality & Leisure vertical of Investment Corporation of Dubai (ICD), the principal investment arm of the government of Dubai, which manages a portfolio of commercial companies and investments.
With the joint venture firmly in place, Valor Hospitality has commenced operational transition of 800+ keys across popular and established hotels in the Emirate, including Dubai’s first five-star property, the Radisson Blu Hotel Dubai Deira Creek and 3 Wyndham Deira hotels. These properties which will retain their existing brands,will be added to the portfolio of operating and pipeline properties Valor have in the region. Valor Hospitality operate 85+ properties globally and enjoy preferred status or close partnerships with global hotel brands, working closely with owners to develop their assets.
“We feel honoured to manage these hotels that have been part of the Dubai landscape for varying degrees of time. We feel sincere accountability towards our hotel guests, hotel teams, and hotel brands during the transition processes” said Euan McGlashan, CEO and global co-founder of Valor Hospitality Partners. “We have a strong history of retention of team members during the process of assuming operational management and remain committed to growing employee culture, in addition to ensuring personal and professional growth” McGlashan continued.
A spokesperson for ICD said “Valor Hospitality bring global knowledge of a business model unique to the region that we are excited to see unfold and develop. The agreement will help Valor expand in the region, strengthen its operations and implement its strategies with the addition of the 4 properties in the ICD portfolio.”
“The Middle East, and Dubai in particular, continues to lead when it comes to hospitality and provides a strong proving ground for brands as they enter or evolve their offering for the region,” said Julien Bergue, Co-founder and Managing Partner of Valor Hospitality Partners Middle East. “There are 65,000 rooms under development in Dubai and working with our asset owners and leading brands to supply first-in-class hospitality options for business and leisure travellers, while ensuring a strong business model for both sides, is our ultimate goal,” 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 Middle East, Valor is now rapidly expanding further within the Middle East, CIS, and Indian Ocean regions. Working closely with owners and international hotel franchise partners, Valor creates value through shared operating platforms within key markets, cutting edge value creation and support with additional services such as, site selection, brand selection, financing solutions, conceptual design, project management, procurement, technical services, and asset management.
ABOUT ICD HOSPITALITY AND LEISURE LLC
ICD Hospitality and Leisure LLC, a wholly owned subsidiary of Investment Corporation of
Dubai (ICD), holds a select portfolio of major hospitality assets across Dubai and around key international markets.
ICD Hospitality and Leisure invests selectively in leading hotels and is pivotal in driving Dubai’s economic engine. Its rich portfolio offers a wide range of travellers some of the world’s best-in-class hospitality infrastructure.
ABOUT INVESTMENT CORPORATION OF DUBAI
Investment Corporation of Dubai (ICD) is the principal investment arm of the Government of Dubai. It was established in May 2006 by decree (11) of 2006 and mandated with the consolidation and management of the Government of Dubai’s portfolio of commercial companies and investments. ICD was also assigned the provision of strategic oversight to portfolio companies through the development and implementation of effective corporate governance policies, and sound investment strategies. ICD is focused on maximizing stakeholder value for the long-term benefit of the Emirate.
ICD’s portfolio comprises 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. The sectors include financial services, transportation, energy and industry, real estate and construction, hospitality and leisure, retail, and other holdings. In addition, ICD has embarked on a disciplined and sustainable strategy of global investments, which are synergistic with its existing portfolio, to extend Dubai’s presence and expertise into international markets.