UAE: Hotel management company Valor Hospitality Partners has entered into a joint venture with Investment Corporation of Dubai (ICD), the main investment arm of Dubai.
Valor will transition more than 800 keys to its platform, including Dubai’s five-star Radisson Blu Hotel Dubai Deira Creek as well as 3 Wyndham Deira. These properties add to Valor’s portfolio of over 85 hotels globally.
Euan McGlashan, CEO and co-founder of Valor Hospitality Partners, said: “We feel honoured to manage these hotels that have been part of the Dubai landscape for varying degrees of time. We feel sincere accountability towards our hotel guests, hotel teams, and hotel brands during the transition processes.
“We have a strong history of retention of team members during the process of assuming operational management and remain committed to growing employee culture, in addition to ensuring personal and professional growth.”
Julien Bergue, co-founder and managing partner of Valor Hospitality Partners Middle East, added: “The Middle East, and Dubai in particular, continues to lead when it comes to hospitality and provides a strong proving ground for brands as they enter or evolve their offering for the region. There are 65,000 rooms under development in Dubai and working with our asset owners and leading brands to supply first-in-class hospitality options for business and leisure travellers, while ensuring a strong business model for both sides, is our ultimate goal.”
A spokesperson for ICD said: “Valor Hospitality will bring global knowledge of a business model unique to the region that we are excited to see unfold and develop. The agreement will help Valor expand in the region, strengthen its operations and implement its strategies with the addition of the four properties in the ICD portfolio.”
