• Home
• /
• Business

Travco invests Dh1.2b in hotels

DUBAI — Travco Group, a leading travel operator in the UAE whose parent is a 50 per cent partner in the German-based travel group TUI, has announced plans to build six hotels across the UAE. This represents an investment of Dh1.2 billion, and will add another 1,420 five-star rooms to the region's already burgeoning number by the end of 2008, said Travco's regional general manager, Osama Bushra.

Travco is developing three hotels on Fujairah's Al Aqah beach, in a resort akin to Dubai's Madinat Jumeirah, explained Bushra. The complex, to be known as Royal Miramar, will be built in three phases at a total cost of nearly Dh600 million. The development will be completed at the beginning of 2008. Travco is also investing Dh250 million to develop a project on the Dubai Waterfront, as well as developing two other hotels on the Palm Jumeirah. These hotels will be owned and managed by Iberotel, a luxury hotel brand with a strong presence across the Middle East, and which is wholly owned by TUI, Europe's largest travel operator. Travco has strong representation in Egypt, with 30 companies operating there, along with 40 hotels and 20 ships, said Bushra.