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FINANCIAL NEWS
Dubai- IFA HR launches USD330m Palm Fairmont hotel
06 Jan 2013
(MENAFN) IFA Hotels and Resorts (IFA HR) chairman and CEO, Talal Jassim Al-Bahar, stated that the international resort developer has launched the USD330 million Fairmont the Palm, its first hotel in Dubai, reported Arabian Business.
Al-Bahar said that the 5-star beachfront hotel is the only operational resort located on the trunk of the Palm Jumeirah.
The property comprises 460 meters of beachfront, 381 guestrooms, 2,200 sq m of meeting and conference facilities, a 1,600 sq m spa, and 7 food and beverage outlets.
Moreover, the property is expected to attract a considerable amount of domestic business, and is projected to become a dining and leisure destination to life on the island.
According to STR Global, in October 2012, average room rates for beachfront hotels in Dubai hit USD476.
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