$100m renovation of iconic property scheduled for July
Atlantis brand looking at Asia and South America to further its expansion, COO says
ATLANTIS
The $100 million (Dh367 million) renovation of the Atlantis hotel on The Palm is set to start on July 2, according to a senior official at the company.
“The renovation of our rooms will begin on July 2, and starting this year also, we will be renovating some of the bars and restaurants. This will last for three years,” said Serge Zaalof, chief operating officer of the Atlantis.
The timescale is intended to align the original Atlantis, which opened in 2008, with the new $1.4 billion (Dh5.14 billion) Royal Atlantis, set to open in the fourth quarter of 2019.
Zaalof confirmed that four banks, including Emirates NBD, which shares its parent company, the Investment Corporation of Dubai (ICD), with the Atlantis, were funding the project. Occupancy at the Atlantis on The Palm was up 16 per cent in April year-on-year, and the company is aiming for 90 per cent occupancy this year.
“The Palm is eating up market share from the beach hotels, and the two new malls that are coming will be great for us too, as people won’t have to leave The Palm to go shopping,” Zaalof said.
GCC focus
The COO also said in an interview with Gulf News that the company was considering opening smaller properties elsewhere in the GCC, and eyeing locations like Mexico and Bali for further expansion. These smaller hotels would have as few as 550 rooms, compared to the 1,300 rooms the hotel will open on Hainan Island, China at the end of 2017, for example.
“We’re considering opening a smaller Atlantis, between 600 and 800 rooms, because if you’re talking about an investment of $1.4 billion, not everyone can afford that. We want to give owners who love the brand the possibility to own an Atlantis,” Zaalof said.
Zaalof confirmed that the company had no intention of spinning these new hotels off in to a separate brand. “We would absolutely keep it as Atlantis. The brand is successful, well recognised, and as long as you provide the same experience, and the same water theme, it’s fine,” he said.
When asked if the company would consider opening in Abu Dhabi, Zaalof responded: “We would never say no to opening a smaller Atlantis in Abu Dhabi, or elsewhere in the GCC.”
He also confirmed that the Atlantis was looking at other regions for future expansion. “We are looking at India, Asia, South America very much so, Cancun, Bali, Phuket,” Zaalof said.