FINANCIAL NEWS

Elisabetta Gucci plans Middle East expansion

07 Jun 2010

(MENAFN) Luxury hotelier Elisabetta Gucci said that it is planning 40 hotels over the next 15 years in the Middle East, Far East and South America and aims to open its first hotel in Dubai at the end of the year, Gulf Daily News reported.

Partner Lorens Ziller at Elisabetta Gucci Hotels and Resorts said the construction of the 87-room boutique hotel is completed, with the firm eyeing a second hotel in China next year. Elisabetta Gucci is daughter of Italian fashion designer Paolo Gucci.

Dubai, which suffered the sharpest drops in hotel revenues regionally last year, is seeing signs of recovery with improved occupancies, as the Gulf’s tourism and trade hub emerges from the impact of the global financial crisis.

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