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Moon Hotels to spend Dh367m in Dubai
DUBAI — Moon Hotels, the flagship brand of United Hotels, will spend an initial capital of Dh367.23 million ($100 million) to join the Dubai hospitality sector this year, and raise it to Dh1.84 billion ($500 million) within two years.
"Our vision is to be one of the leader franchisees in the Middle East," said Jasim Al Bastaki, CEO of United Hotels. He added that United Hotels would be a public share holding company in five years. He said United Hotels would launch the first property by end-2007.
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