The currency logged its sharpest intra-day fall in more than two weeks on Monday
Viceroy requested the DIFC Courts' assistance following the actions taken by the hotel's owner on June 19, when it announced the purported takeover of the hotel by Five Hotels and Resorts, a company affiliated with the hotel's owner, and took steps to attempt to remove Viceroy from the property.
The owner's actions at that time breached the existing hotel management agreement. Viceroy is currently taking steps to ensure that the hotel's owner complies fully with the terms of the court order and the hotel management agreement.
Bill Walshe, CEO of Viceroy Hotel Group, said: "Contrary to the hotel owner's statements and subsequent media reports, Viceroy has always been, and remains, the legal operator of the Viceroy Palm Jumeirah Dubai.
"The court's order requires, among other things, Viceroy's name, signage and branding to be reinstated at the hotel. Our priority remains to work with our hotel colleagues to ensure continuity of service and consistent delivery of a guest experience in keeping with the Viceroy ideology. We will continue to work strenuously with our legal team to ensure we achieve this."
"Viceroy is proud to contribute to Dubai's dynamic hospitality landscape with the opening of our Palm Jumeirah hotel on March 31, 2017. We are committed to supporting Dubai's vision to be a leading tourism market and will strongly resist any attempts to threaten this," Walshe added.
Viceroy Hotels and Resorts signed a long-term hotel management agreement to operate the Palm Jumeirah hotel in 2013. The resort officially opened on March 31, 2017. DIFC Courts ruling confirms Viceroy as operator of the Palm Jumeirah Hotel. - Wam
The currency logged its sharpest intra-day fall in more than two weeks on Monday
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