Abu Dhabi-based Aldar Properties announced that as part of its active asset management strategy for its AED20bn real estate portfolio, it has appointed Marriott International to manage one of its most strategically located hotels on Yas Island.
Effective July 1, 2018, Marriott International will assume operation of the Yas Island hotel, which will go through a refurbishment period before opening under W Hotels marking the debut of the brand in Abu Dhabi. Areas across the hotel will be refreshed and redesigned as per W Hotels brand standards, with an upgrade to its lobby and pool facilities, whilst remaining open to guests.
Abu Dhabis media and entertainment free zone is also relocating to state-of-the-art facilities on Yas Island and has appointed Aldar as its strategic real estate partner. The first phase of the new free zone is valued at approximately AED1bn and is set to grow as twofour54 continues to grow, with a target of attracting 10,000 working professionals from the media sector to Yas Island. This will form part of the AED12bn Yas Bay master development, which also comprises a waterfront and entertainment district and an urban island community.
Commenting on the announcement, Talal Al Dhiyebi, CEO of Aldar Properties, said: Appointing Marriott International to manage the operations of our Yas Island hotel supports our strategy to employ the most reputable international operators and reflects our active approach to the management of our portfolio. Marriott Internationals experience will ensure guests have a memorable stay at our world-class hotel while driving value for our Asset Management business. Our enviable portfolio of 11 hotels, including the recently acquired Westin Abu Dhabi Golf Resort & Spa and Eastern Mangroves Hotel & Spa by Anantara, positions us well to drive the activation of Yas Island and Saadiyat Island, and cater for the increasing number of tourists visiting Abu Dhabi.
Alex Kyriakidis, president and managing director, Middle East and Africa, Marriott International, commented: We are delighted to work with Aldar to introduce W Hotels on Yas Island, bringing a new dimension to the luxury and lifestyle hospitality offering on the iconic landmark. Marriott International and Aldar share a similar vision for this project and we look forward to infusing the energy and innovative mind-set of the brand into a vibrant destination such as Yas Island. This hotel marks our 13th property in Abu Dhabi and adds to our diverse brand portfolio in the Capital, complimenting the destination and the diverse traveller it attracts today.