Dubai-owned firm to open 4 mid-priced hotels next year

Dubai

A COMPANY owned by Dubai's government plans to open four hotels in the emirate next year to expand the supply of mid-priced rooms in a market dominated by luxury accommodation, its chief executive officer said.

Wasl Asset Management's Hesham Abdullah Al Qassim said the three-star properties will each have 150 to 200 rooms and will be managed by Hilton Worldwide Holdings and Hyatt Hotels Corp. Wasl plans to build 19 hotels before end of 2017, he said.