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FINANCIAL NEWS
Jumeirah gives up two Meydan hotels
19 Dec 2010
(MENAFN) A spokesperson for Dubai-based luxury hotel operator Jumeirah Group, said that starting January, it shall cease to operate Bab Al Shams Desert Resort and Spa and The Meydan Hotel, whereas management of the hotels will be handed back to Meydan LLC, the owner of the two properties, Arabian Business reported.
Jumeirah Group has managed and operated Meydan-owned Bab Al Shams Desert Resort since it opened in 2004, and both companies have confirmed that they will be cooperating closely to facilitate a smooth transition period, said the spokesperson.
Meydan Chief Executive Officer and Chairman of the board, Saeed Humaid Al Tayer, and Jumeirah Group’s Executive Chairman, Gerald Lawless, announced they had signed a Letter of Understanding for the management of The Meydan, in June of the current year.
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