Friday, May 17, 2024

Al Hokair Group Steps Up Expansion of MENA Hotels & Resorts

0

Saudi-based hospitality and entertainment group Al Hokair has chalked out aggressive plans for expansion of MENA Hotels & Resorts across the Middle East that will be unveiled during the Arabian Travel Market in Dubai. Confirming the group’s presence at the show from 22 to 25 April 2018, Mr Sami Al Hokair, Managing Director Al Hokair Group & MENA Hotels & Resorts, stated, “Al Hokair is a trusted name in hospitality and we are eager to capitalize on the massive opportunity for growth in the industry with our brand MENA Hotels & Resorts. Focused on high-growth markets, our expansion is driven by long-term sustainability while strengthening our diverse portfolio of brands.”

MENA Hotels & Resorts is currently present in KSA, UAE and Jordan with seven hotels, boasting 1015 keys, in operation. The brand is expected to double its existing portfolio of hotels by 2019 with a strong development pipeline. Mr Fadi Mazkour, Co-Founder, Regional Director of MENA Hotels & Resorts, said, “MENA Hotels & Resorts is a distinctive collection of properties offering a comprehensive mix of lifestyle brands, from luxury to budget, all reflecting the pulse of Arabian Hospitality delivered by world-class hoteliers. We are well-placed to serve any market segment with a balanced portfolio of five superb brands that have been developed to respond to the needs of today’s guests. The service excellence seamlessly translates into every aspect of MENA Hotels & Resorts, ensuring the highest quality and standards at all our hotels. In keeping with the Arabian culture and traditions all our properties are strictly committed to provide a safe and comfortable environment for families.”

Founded in 1975, under the leadership of Sheikh Abdulmohsin Al Hokair, Al Hokair Group boasts a portfolio of 80+ entertainment centres and 40+ hotels comprising more than 5000 rooms spread across KSA, UAE and JORDAN. Occupying over 882,226 sqm of space and employing over 4100 experienced professionals, the group serves over 8 million people annually.

Al Hokair Group will be present at Arabian Travel Market from 22 to 25 April on stand ‘HC 0570’ in Sheikh Saeed Hall in Dubai International Convention and Exhibition Centre.

About Al Hokair Group Founded in 1975, under the leadership of Sheikh Abdulmohsin Al Hokair, Al Hokair Group boasts a portfolio of 90+ entertainment centres and 40+ hotels comprising more than 5500 rooms spread across KSA, UAE and JORDAN. Occupying over 882,226 sqm of space and employing over 4100 experienced professionals, the group serves over 12 million people annually.

For more information about Al Hokair Group visit www.alhokair.com For more information about MENA Hotels, visit www.menahotelgroup.com

For media contact: Hina Bakht Managing Director EVOPS Marketing & PR Mob: 00971 50 6975146 Tel: 00971 4 566 7355 Hina.bakht@evops-pr.com www.evops-pr.com

Deyaar Hands Over Mont Rose Project

0
Deyaar Development PJSC (“Deyaar”), one of Dubai’s leading property developers and real estate service providers, has started the handover process for the two residential towers in its iconic Mont Rose project which marks Deyaar’s first handover of 2018.Located in Dubai Science Park, the Mont Rose is a contemporary residential and hotel-apartment project. It comprises three towers: Mont Rose residential towers A and B, and one hotel-apartment tower, the Millennium Deyaar Mont Rose Apartments, which will be managed by Millennium & Copthorne, one of the fastest-growing hotel groups in the region. The hotel tower will begin operation in September 2018.Saeed Al Qatami, CEO of Deyaar said: “Delivering a project to our owners at the beginning of the year sets the tone for what we aim to accomplish in 2018. Mont Rose is one of our iconic projects, which is situated to take advantage of Dubai’s up-and-coming areas – including the Expo 2020 site. Deyaar is committed to delivering quality projects that meet our exacting standards, in terms of build, location, and return on investment.”Owners were invited to an orientation event to go through the handover process and the necessary procedures and to inspect their units before receiving their keys. Through this event, Deyaar aims to facilitate the delivery of units to new owners and familiarise them with their new units. Deyaar also expects to deliver The Atria in Q2 2018.Currently near completion, The Atria is located in Business Bay and comprises a four-star hotel apartment tower and a residential tower. The project has 347 serviced apartments managed by the Millennium & Copthorne Group, and 219 residential units. Residents will have access to facilities such as a luxury spa, fine dining restaurant, gymnasium, and an infinity pool that overlooks the iconic Burj Khalifa.Listed on the Dubai Financial Market and majority-owned by Dubai Islamic Bank (DIB), Deyaar is one of Dubai’s leading developers, with real estate ventures spanning key growth corridors and prime locations within the emirate. Over the years, Deyaar has delivered an extensive portfolio of commercial and residential properties, all offering the highest levels of service and quality.

FOUR SEASONS HOTEL BEIRUT SCOOPS TOP AWARDS AT HORECA 2018

0
The talented Food and Beverage Team at Four Seasons Hotel Beirut is celebrating their recent win at HORECA 2018, after taking home 21 awards. Just like every year, the Hotel was in the limelight, with its team excelling in cooking, art of service and other competitions, acquiring medals and certificates of appreciation for their creative skills and high professionalism.Four Seasons Hotel Beirut won five gold medals in the perfect steak challenge, two courses Lebanese menu competition, plated desserts presentation and Lebanese sandwich competition. Six silver medals were won for the burger challenge, best croissant, best baguette, Lebanese sandwich, table service and meat flambage. A further four bronze medals including best chocolate egg display, table service and napkin folding were won and six merit awards across several categories including hot and cold tapas, manouche saj challenge, best éclair, best macaron and wine decanting were also awarded.“We are thrilled by the diversity and calibre of awards received by our team at HORECA this year. A result of the Hotel’s ever-growing investment in continually striving to nurture its established and upcoming talent. We congratulate all the winners who have come out on top after a thorough judging process. Their win will surely serve as an inspiration to their colleagues at the Hotel,” says Regional Vice President and General Manager Rami Sayess.HORECA is the country’s largest annual exhibition held for the hospitality, catering and food industries and boasts one of the region’s most sought after competitions. Visitors from the city were invited to watch more than 100 talented chefs compete in different categories ranging from five-course menus to novelty cakes, live cooking of signature dishes, carving competitions and the creation of decorative showpieces, before being judged by a panel of international experts.

ETISALAT, SINGTEL, SOFTBANK AND TELEFÓNICA CREATE GLOBAL CYBER SECURITY ALLIANCE

0
  • Members to share cyber risk intelligence and security capabilities to protect enterprises from evolving cyber threats worldwide.
  • Alliance has presence in over 60 countries, combined 1.2 billion customers, over 20 SOCs and more than 6,000 security experts.
  • Combined capabilities with this Alliance would make it one of the world’s leading managed security services platform.
Etisalat, Singtel, SoftBank and Telefónica today signed an agreement to create the first Global Telco Security Alliance to offer enterprises a comprehensive portfolio of cyber security services.The alliance will be one of the world’s biggest cyber security providers, with more than 1.2 billion customers in over 60 countries across Asia Pacific, Europe, the Middle East and the Americas. Through their combined resources and capabilities, the group can protect enterprises against the rising cyber security risks as the information security environment becomes increasingly complex.Through the alliance, members can achieve operational synergies and economies of scale that will eventually help lower costs for their customers. The group’s members operate 22 world-class Security Operation Centres (SOCs) and employ more than 6,000 cyber security experts. To expand their global footprint, the alliance is open to bringing in new members over time.Under the agreement, the group will share network intelligence on cyber threats and leverage their joint global reach, assets and cyber security capabilities to serve customers worldwide. Leveraging each member’s respective geographic footprint and expertise, the alliance is able to support each other’s customers anywhere and anytime, allowing them to respond rapidly to any cyber security threats.To enhance their cyber security portfolio, the members will also look into the possibility of developing new technologies such as predictive analytics using machine learning and advanced cyber security for the Internet of Things. The alliance will also consider developing a joint roadmap for the evolution of their security portfolios and explore joint investments in security products and services, SOCs, platforms, start-ups and R&D.Supporting quotes from the Global Telco Security Alliance members:Francisco Salcedo, Senior Vice President at Etisalat Digital said: “With digital technologies gaining widespread adoption and driving innovation across industry verticals, the security landscape has evolved. Organizations now face a new breed of threats and need to manage digital risks in their environments. Today’s strategic alliance will give us a unique opportunity to work hand in hand with our telecom counterparts and deliver innovative security services for digital risk management.”“We need swift and coordinated global responses to defend enterprises that operate across transnational borders as cyber threats are increasing in frequency, scale and sophistication,” said Art Wong, Chief Executive Officer of Global Cyber Security at Singtel. “Singtel and its US-based subsidiary Trustwave are both well-established security leaders across the Asia Pacific, Europe and the Americas. The group’s resources, combined with those of its alliance partners, will provide a robust cyber security platform to protect our global customers, allowing them to thrive in the digital economy.”Andrew Schwabecher, Head of the Cloud & Cyber Security Division at SoftBank Corp. said, “Hackers have well-established and organized communities where they cooperate to produce cyber threats—it’s time that the world’s largest network of operators formed a global alliance to strengthen our defense against these attacks. SoftBank is excited to join the initial alliance partners including Singtel, Telefonica and Etisalat, to offer enhanced security to our customers and advance our cyber defense.”“The Security Alliance will help all its members to deliver disruptive innovation to secure our customers’ digital lives,” said Pedro Pablo Pérez, VP Security at Telefónica and CEO of Telefonica’s cybersecurity unit ElevenPaths. “For Telefónica, it’s a major step ahead in complementing our ability to develop as an intelligent Managed Security Service Provider and to continue to deliver outstanding growth.”About SingtelSingtel is Asia’s leading communications technology group, providing a portfolio of services from next-generation communication, technology services to infotainment to both consumers and businesses. For consumers, Singtel delivers a complete and integrated suite of services, including mobile, broadband and TV. For businesses, Singtel offers a complementary array of workforce mobility solutions, data hosting, cloud, network infrastructure, analytics and cyber-security capabilities. The Group has presence in Asia, Australia and Africa and reaches over 685 million mobile customers in 22 countries. Its infrastructure and technology services for businesses span 21 countries, with more than 428 direct points of presence in 362 cities.For more information, visit www.singtel.comFollow us on Twitter at www.twitter.com/SingtelNewsAbout Etisalat GroupEtisalat Group is one of the world’s leading telecom groups in emerging markets. Etisalat’s current market cap is 152 billion AED (41 billion USD). With reported net revenues of AED 51.7 billion and net profit of 8.4 billion for 2017, Etisalat ranks amongst the most profitable telecom groups in the world. Its high credit ratings at AA-/A+/Aa3 reflect the company’s strong balance sheet and proven long-term performance.Headquartered in Abu Dhabi, Etisalat was established four decades ago in the UAE as the country’s first telecommunications service provider. An international blue-chip organization, Etisalat provides innovative solutions and services to 142 million subscribers in 16 countries across the Middle East, Asia and Africa.About SoftBank Corp.SoftBank Corp., a subsidiary of SoftBank Group Corp. (TOKYO:9984), provides mobile communication, fixed-line communication, and Internet connection services to consumers and corporate customers in Japan. Leveraging the innovative technologies of other SoftBank Group companies, SoftBank Corp. is also expanding into AI, smart robotics, IoT, FinTech, cloud security and other business sectors. To learn more, please visit www.softbank.jp/en/corp/group/sbm/About TelefónicaTelefónica is one of the largest telecommunications companies in the world in terms of market capitalization and number of customers. With its best in class mobile, fixed and broadband networks, and innovative portfolio of digital solutions, Telefónica is transforming itself into a ‘Digital Telco’, a company that will be even better placed to meet the needs of its customers and capture new revenue growth.The company has a significant presence in 20 countries and a customer base of 344 million accesses around the world. Telefónica has a strong presence in Spain, Europe and Latin America, where the company focuses an important part of its growth strategy.If you would like to know more about the Telefónica, please visit www.telefonica.com

JPMorgan Chase Declares Preferred Stock Dividend

0
PMorgan Chase & Co. (NYSE: JPM) (“JPMorgan Chase” or the “Firm”) declared dividends on the outstanding shares of the Firm’s preferred stock issues as follows:
Preferred Stock SeriesDistribution (per Preferred Share)Distribution (per Depositary Share)
5.45% Non-Cumulative Preferred Stock, Series P$136.25$0.340625
6.70% Non-Cumulative Preferred Stock, Series T$167.50$0.418750
6.30% Non-Cumulative Preferred Stock, Series W$157.50$0.393750
6.125% Non-Cumulative Preferred Stock, Series Y$153.13$0.382825
6.10% Non-Cumulative Preferred Stock, Series AA$152.50$0.381250
6.15% Non-Cumulative Preferred Stock, Series BB$153.75$0.384375
The dividend payment date is June 1, 2018, to stockholders of record at the close of business on May 2, 2018.JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.6 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of customers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.Investor Contact: Jason Scott, 212-270-7325Media Contact: Joseph Evangelisti, 212-270-7438

Martin Sorrell has stepped down as CEO of WPP with immediate effect

0
Sir Martin Sorrell has stepped down as Chief Executive Officer of WPP with immediate effect. Roberto Quarta, Chairman of WPP, becomes Executive Chairman until the appointment of a new Chief Executive Officer.Mark Read, Chief Executive Officer of Wunderman and WPP Digital, and Andrew Scott, WPP Corporate Development Director and Chief Operating Officer, Europe, have been appointed as joint Chief Operating Officers of WPP.Sir Martin will be available to assist with the transition.The previously announced investigation into an allegation of misconduct against Sir Martin has concluded. The allegation did not involve amounts that are material.In accordance with his at-will employment agreement, Sir Martin will be treated as having retired on leaving WPP, as detailed in the Directors’ Compensation Policy. His share awards will be pro-rated in line with the plan rules and will vest over the next five years, to the extent Group performance targets are achieved.Roberto Quarta said: “Sir Martin has been the driving force behind the expansion of WPP to create the global leader in marketing services. During this time, the Company has been successful because it has valued and nurtured outstanding talent at every level – within and well beyond our leadership teams. On behalf of the Board I would like to recognise these achievements and thank Sir Martin for his commitment to the business over more than three decades.”Sir Martin Sorrell said: “Obviously I am sad to leave WPP after 33 years. It has been a passion, focus and source of energy for so long. However, I believe it is in the best interests of the business if I step down now. I leave the Company in very good hands, as the Board knows. Mark and Andrew and the management team at all levels have the knowledge and abilities to take WPP to even greater heights and capitalise on the geographic and functional opportunities. I will particularly miss the daily interactions with everyone across the world and want to thank them and their families for all they have done, and will do, for WPP.” This announcement contains inside information. The person responsible for arranging for the release of this announcement on behalf of WPP is Marie Capes, Company Secretary.Contact: Richard Oldworth, Buchanan Communications +44 (0)7710 130 634 / +44 (0)20 7466 5000

International Expansion Continues with Six Flags-Branded Park in Saudi Arabia

0

New Park Slated for 2022 Debut Will Be Part of Qiddiya, the Kingdom’s New Entertainment Destination

GRAND PRAIRIE, Texas–(BUSINESS WIRE)– Six Flags Entertainment Corporation (NYSE: SIX), the world’s largest regional theme park company, and the Public Investment Fund (PIF), Saudi Arabia’s sovereign wealth fund, today announced plans to develop a Six Flags-branded theme park in the city of Riyadh. Six Flags has entered into an arrangement with the PIF to develop, design and license the Six Flags brand for Qiddiya—Saudi Arabia’s first entertainment, sports and cultural destination—which is expected to open in 2022.“Innovation is synonymous with the Six Flags brand, and our international licensing business provides a unique opportunity to continue our strong global growth,” said David McKillips, President of Six Flags International Development Company. “We see great potential in the Saudi Arabian market and look forward to collaborating with the PIF to create a world-class entertainment destination for Saudi’s young and dynamic population.”Located 40km from downtown Riyadh, Qiddiya will provide an unprecedented leisure option for the seven million plus residents of the Saudi capital.The Public Investment Fund of the Kingdom of Saudi Arabia said, “The entertainment sector has an important role to play in the transformation of Saudi Arabia’s economy. The Six Flags-branded theme park in Riyadh and other similar developments will create new employment opportunities and harness the talent, energy and imagination of Saudi youth. Our investment in this sector is in line with our mission and delivers on a key element of Vision 2030.”Michael Reininger, Chief Executive of Qiddiya, commented, “Our goal is to create an exciting one-of-a-kind destination that will draw visitors from throughout Saudi Arabia to experience record-breaking roller coasters, innovative rides and attractions, as well as the sporting and cultural facilities that Qiddiya will offer. By partnering with a global leader, we know that we are going to deliver something exceptional.”Terms of the arrangement were not disclosed.About Six Flags Entertainment CorporationSix Flags Entertainment Corporation is the world’s largest regional theme park company with $1.4 billion in revenue and 20 parks across the United States, Mexico and Canada. For 57 years, Six Flags has entertained millions of families with world-class coasters, themed rides, thrilling waterparks and unique attractions. For more information, visit www.sixflags.com.Follow us on Twitter @SixFlagsLike us on Facebook at facebook.com/sixflagsAbout the Public Investment Fund:The Public Investment Fund (PIF) seeks to become one of the largest and most impactful sovereign wealth funds in the world, enabling the creation of new sectors and opportunities that will shape the future global economy, while driving the economic transformation of Saudi Arabia.To achieve this, the PIF is building a world-class, diversified portfolio through investments in attractive, long-term opportunities across sectors and asset classes at both the domestic and international level. Working alongside global strategic partners and renowned investment managers, the PIF acts as the Kingdom’s main investment arm to deliver a strategy focused on achieving attractive financial returns and long-term value for the Kingdom of Saudi Arabia, in line with Vision 2030.About QiddiyaThe vision of Qiddiya is to be the iconic entertainment destination of the Kingdom, the home of activity, discovery and engagement. Backed by the Saudi Arabian Public Investment Fund, Qiddiya will be built 40km from downtown Riyadh. Visitors will have access to ground breaking recreational and educational facilities across six innovatively designed clusters: Theme Parks; Wheels and Wings; Scenic and Animal Encounters; Water and Snow; Sports; Events, Culture and Education. Groundbreaking will be in 2018, and the first phase of the development will be launched in 2022.

Emaar Hospitality Group and ARADA join hands to launch three distinctive hotels in Aljada, Sharjah’s new lifestyle hub

0
Emaar Hospitality Group to operate Address, Vida and Rove hotels in ARADA’s flagship destination Aljada in Sharjah
• A joint venture between KBW Investments and Basma Group, ARADA launched Aljada, a 24 million sq ft mixed-use megaproject, in September 2017
• Emaar Hospitality Group’s three hotel and serviced residences brands will enrich the hospitality offering of Aljada setting a new benchmark in the emirate’s hospitality sector
• Address Aljada Sharjah (150 rooms), Vida Aljada Sharjah (175 rooms) and Rove Aljada Sharjah (300 rooms) to support emirate’s growing tourism sector

In a significant deal that will boost the hospitality landscape of Sharjah, ARADA, a joint venture between KBW Investments and Basma Group, today signed a management agreement with Emaar Hospitality Group, the hospitality & leisure subsidiary of Emaar Properties PJSC, to launch three new hotels in Sharjah.
The three hotels under Emaar Hospitality Group’s premium lifestyle Address Hotels + Resorts, upscale lifestyle Vida Hotels and Resorts, and the contemporary midscale Rove Hotels will be located in Aljada, a 24 million square foot integrated lifestyle destination, and a new leisure and entertainment hub for Sharjah.
The agreement was signed by HE Sheikh Sultan bin Ahmed Al Qasimi, Chairman of ARADA, HRH Prince Khaled bin Alwaleed bin Talal, Vice Chairman of ARADA, and Mohamed Alabbar, Chairman of Emaar Properties, in the presence of senior officials of the two companies as well as Emaar Hospitality Group.
Under the terms of the agreement, Emaar Hospitality Group will manage Address Aljada Sharjah with 150 rooms, and Address Residences Aljada Sharjah, an exclusive selection of only 150 serviced residences, located in Aljada’s Central Hub, the heart of the megaproject. Designed by Zaha Hadid Architects, the 1.9 million square foot Central Hub will be a new focus for leisure and entertainment in the UAE, and a significant addition to an Emirate that is already widely regarded as the cultural capital of the Arab world. Aljada’s Central Hub will be a major destination for tourists and residents in its own right, offering a carefully selected mix of world-class offerings, complemented by community facilities and an array of retail and dining experiences.
In close proximity is the Vida Aljada Sharjah with 175 hotel rooms and Vida Residences Aljada Sharjah with 120 residences. Located within Aljada’s Business Park is the 300-room Rove Aljada Sharjah. The serviced residences under Address and Vida will be offered for sale in the fourth quarter of 2018.
His Excellency Sheikh Sultan bin Ahmed Al Qasimi said: “Our flagship development, Aljada is a first-of-its-kind integrated lifestyle destination in Sharjah that will add tremendous value to the economy. Hospitality is one of the core aspects of the mega-development. With the growth in tourist arrivals to Sharjah, and the emirate’s status as a cultural hub, there is strong potential for building a robust hospitality infrastructure. Our agreement with Emaar will bring proven hospitality competencies to this spectacular development that will transform Sharjah’s economy.”
Mohamed Alabbar said: “ARADA is redefining the residential and commercial landscape of Sharjah with Aljada, its ambitious master-planned destination that will catalyse all sectors of the economy. Through our partnership, we are bringing three distinctive hotel experiences that will meet the requirements of visitors and residents. This is a great example of the collaborations we foster to create iconic destinations of the future. Our three hotel brands – Address, Vida and Rove – have set high industry standards and will be a sterling addition to Aljada.”
Olivier Harnisch, Chief Executive Officer of Emaar Hospitality Group, added: “Sharjah has unique touristic value that is defined by its cultural museums as well as natural attractions. With our three hotel brands marking their entry to Sharjah for the first time, we are not only expanding our footprint in the UAE but also contributing the strengthening the tourism sector of the emirate. While Address Aljada Sharjah will appeal to luxury travellers, Vida Aljada is for the new generation of entrepreneurs and travellers, and Rove Aljada Sharjah brings the midscale offering. All hotels stand out for their brand philosophy and design approach, and are located centrally adding to the connectivity and mobility of our guests.”
Address Aljada Sharjah brings the same ‘where life happens’ approach to ensure that guests receive the highest service standards in a central location. The hotel will have all modern amenities such a selection of exclusive restaurants, including The Restaurant at Address Aljada Sharjah as well as a fitness centre, meeting rooms and more. Address Hotels + Resorts has already announced its expansion to operate hotels in Saudi Arabia, Bahrain, Egypt, Turkey and the Maldives as well as the UAE.
Vida Hotels and Resorts is a refreshingly different upscale lifestyle hotel and residences brand for the new generation of business executives, entrepreneurs and leisure travellers. Vida, meaning ‘life’ in Spanish, embraces warmth, simplicity and creativity in design-led spaces. Vida Aljada Sharjah will deliver its differentiating value proposition in Sharjah with a wide range of amenities and lifestyle choices. Emaar Hospitality Group has expanded the footprint of Vida to Saudi Arabia, Bahrain and Egypt in addition to several new hotels in the UAE.
A contemporary midscale hotel brand that reflects the pulse of Dubai, Rove Hotels is a joint venture between Meraas and Emaar Properties PJSC. Designed for the new generation traveller who recognises value, stays connected through technology and gravitates towards culturally-inspired surroundings, Rove Hotels defines a new niche in Dubai’s vibrant hospitality sector. Rove Hotels already has five operational properties in well-connected locations across Dubai – Rove Downtown, Rove City Centre, Rove Healthcare City, Rove Trade Centre and the most recent addition, Rove Dubai Marina, which opened in April.
Launched in September 2017 by His Highness Sheikh Dr Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, the AED 24 billion Aljada has swiftly become Sharjah’s fastest-selling residential community. Delivered in phases starting in 2019, the entire project is expected to be completed by 2025.
The Aljada masterplan is carefully designed with walkability and wide green spaces in mind, allowing residents, workers and visitors the ability to live, work, play and be entertained within a fully integrated and sustainable community. Aljada is ideally situated on the last major plot of undeveloped land in the heart of Sharjah, with exceptional connectivity to surrounding areas, and is an all-encompassing district that comprises considerable retail, leisure and entertainment options, in addition to a wide range of residential and commercial offerings.

Dubai Parks and Resorts reports another record quarter

0
DXB Entertainments PJSC (DFM:DXBE) today announced that Dubai Parks and Resorts, the region’s largest theme park destination, welcomed 851 thousand visits during the first quarter of 2018, an increase of 45% compared to the first quarter of 2017, and an increase of 55 thousand visits compared to the last quarter of 2017. This sets a new record quarter visitation figure.The first quarter’s record visitor figures follows a successful fourth quarter of 2017, when Dubai Parks and Resorts attracted close to 796 thousand visits.The Lapita™ Hotel average occupancy rose to 62% in the first quarter of 2018, compared to 22% for the same period last year, and 48% in the fourth quarter of 2017.2018 is the first full year of operations for Dubai Parks and Resorts and the growing visitor numbers and hotel occupancy reflect the ramp up in operations and the implementation of coordinated resident and international sales and marketing strategies.Mohamed Almulla, CEO, DXB Entertainments, said, “We are pleased to have grown our first quarter visitation by 45% when compared to the same period last year, a clear sign our new strategy is delivering results.  Visitor numbers are steadily increasing as we continue to focus on our core markets of GCC residents, annual pass holders and international visitation.“It is important to note that in a normal annual cycle the fourth quarter should deliver the highest visitor numbers as it is the peak tourist season for the city of Dubai and therefore quarter-on-quarter improvement is a further sign of our continued growth.“Theme parks are seasonal in nature and whilst we expect to deliver year-on-year growth, we anticipate the warmer second quarter to deliver lower visitation than the cooler months of the first quarter.“Dubai Parks and Resorts is great product and a world class destination and we are excited about our growth potential as we progress through our first full year of operations.”ENDSFor further information, please contact:Marwa Gouda, Head of Investor Relations, DXB Entertainments PJSC +97148200820 IR@dxbentertainments.comJon Earl, Managing Director, FTI Consulting +97144372104 jon.earl@fticonsulting.comAnca Cighi, Director, FTI Consulting +97144372111 anca.cighi@fticonsulting.comDXB Entertainments PJSCDXB Entertainments PJSC (previously Dubai Parks and Resorts PJSC) is a Dubai-based operator of leisure and entertainment destinations and experiences. The Company is traded on the Dubai Financial Market (DFM) under the trading symbol DXBE. We bring together a diverse portfolio of world-class brands to offer entertainment in the areas of theme parks, family entertainment centres and retail and hospitality.DXB Entertainments is the owner of Dubai Parks and Resorts, the region’s largest integrated theme park destination, with five Theme Parks (Six Flags Dubai under development), two Hotels (LEGOLAND® Hotel under development), and one retail and dining facility all spread over 30.6 million sq.ft of land, with an estimated AED 13.2 billion in development costs.DXB Entertainments also manages six Dubai-based mid-way attractions in addition to a chain of cinemas, all owned by Meraas.With a diverse portfolio of 16 leisure and entertainment assets, DXB Entertainments is the largest leisure and entertainment company in the region.For more information, go to: www.dxbentertainments.comDubai Parks and ResortsDubai Parks and Resorts, owned by DXB Entertainments PJSC, is the Middle East’s largest multi-themed leisure and entertainment destination comprising  four separate theme parks: MOTIONGATE™ Dubai, the region’s largest Hollywood-inspired theme park, featuring immersive rides and attractions based on Hollywood hits; LEGOLAND® Dubai, a unique, interactive theme park for families which brings the well-known LEGO® brick to life in a playful learning environment; and BOLLYWOOD PARKS™ Dubai, a first-of-its-kind theme park that showcases rides and attractions based on some of Bollywood’s biggest blockbusters. It also hosts the LEGOLAND® Water Park, the region’s first water park catering to families with children aged 2-12. Expected to open in late 2019, Six Flags Dubai will be destinations fifth theme park and the regions first Six Flags themed park.The entire destination is connected by Riverland™ Dubai, the free to enter themed recreational hub with a multitude of dining, shopping and unique entertainment options, that connects the theme parks, perfect for friends and families of all ages.  Guests can stay at the Lapita™ Hotel, a Polynesian themed family hotel part of the Marriott Autograph Collection.Located on Sheikh Zayed Road opposite the Palm Jebel Ali in Dubai equidistant to Dubai and Abu Dhabi International Airports, the destination offers over 100 rides and attractionsFor more information, go to: www.dubaiparksandresorts.com

FIRST QUARTER SALES UP 11 % AT DUBAI DUTY FREE

0
Perfume sales reached over Dhs276 million (US$75.7 million), accounting for 14% of total revenue in the first quarter of 2018.
Dubai Duty Free announced first quarter sales of Dhs1.91 billion (US$523.46 million) representing an 11% over the same period last year and signaling a positive start to 2018 on the back of record sales of Dhs7.05 billion (US$1.93 billion) in 2017.Sales for March reached a new monthly record of Dhs660.36 million (US$180.92 million), which represents a 10% increase over March 2017. So far this year, monthly sales are in excess of Dhs600 million (US$164.38 million), with an average daily sale of Dhs21.23 million (US$5.82 million).Commenting on the positive sales performance, Colm McLoughlin, Executive Vice Chairman and CEO of Dubai Duty Free said: “We are very pleased with the first quarter of the year sales and are focused on reaching our targets for the year. Sales are ahead of passenger numbers at Dubai International Airport and we are seeing double digit growth across a wide number of categories.”Sales across all three Terminals at Dubai International Airport showed an upward trend, including a 14% increase in Terminal 2 and a 13% increase in sales in Terminal 3.Liquor, Perfumes and Tobacco held the top three spots category-wise in the first quarter of the year. Perfume sales reached over Dhs276 million (US$75.7 million), accounting for 14% of total revenue. Sales of Tobacco was up by 37% to Dhs220 million (US$60.33 million) while Cosmetics was up by 25% to Dhs183 million (US$50.04 million) accounting for 10% of total sales.Other categories showing robust growth included Electronics, up 34% to over Dhs169 million (US$46.41 million) while Watches rose by 16% to Dhs127 million (US$34.80 million).“There are a number of factors behind the sales growth, including the refurbishment of Concourse C, which will be fully completed shortly and other ongoing projects,” said Mr. McLoughlin.“While the introduction of VAT and Excise duty in our Arrivals Duty Free has resulted in a drop in revenue in these areas, the fact that VAT is not applicable for the majority of sales in Departures has contributed to an increase in certain categories for departing and transit passengers.”Looking ahead, Dubai Duty Free will continue to enhance its retail operation in 2018 including the expansion of the Passenger Terminal Building at Al Maktoum International, a Fashion revamp in Terminal 3-Concourse B and refurbishment of Terminal 1 – Concourse C.In the meantime, the operation is continuing with its busy events and promotional calendar, which includes the Dubai Duty Free Stakes taking place at the Newbury Racecourse in the UK on 20 and 21 April, followed by the Dubai Duty Free Irish Derby Festival (28th -30th June) and Dubai Duty Free Irish Open (5th-8th July) to be held in Ballyliffin, Co. Donegal.