Dubai-based developer's confidence in global expansion plans is undented
Jumeirah, the Dubai-based hotel giant, has said it will carry on with plans to launch 30 new hotels across the world before 2012 in defiance of the global financial crisis.
The firm has 30 hotels either open or in development, and plans to double that tally in the next five years. As many as 20 of those hotels will be in Asia, according to Jumeirah executive chairman Gerald Lawless.
Lawless told the Financial Times: “The luxury market is still holding up very strongly. If you try to get a room in our hotels in Dubai, it is not that easy.”
InterContinental Hotels Group, the largest in the sector, warned last week that its pipeline of new developments would be affected by the turmoil in the financial sector.