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FINANCIAL NEWS
Jumeirah Group to cut jobs amid expansion plans
16 Jan 2011
(MENAFN) Gerald Lawless, Executive Chairman at Jumeirah Group, revealed its plans to cut jobs despite an ambitious expansion plan that will see it roll out more than 35 hotels and resorts worldwide, Arabian Business reported.
The Dubai luxury hotelier, which is a subsidiary of the indebted conglomerate Dubai Holding, plans to have 60 properties in operation or under development by 2012 as it expands outside of its domestic markets. In December the group said it was setting its sights on China, where it currently has six projects underway, for long term growth.
According to Lawless, the group also plans to operate hotels in Maldives, Shanghai and Germany and build a hotel in Qatar in time for the 2022 World Cup.
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