Set to be home to 100 hotels and serviced apartment buildings, with a total of 20,000 rooms, Mall of the World in Dubai has sparked interest from most of the major hospitality groups.
Wyndham Hotel Group regional vice president Middle East and Africa Bani Haddad gives us his thoughts on the ambitious project and what his company’s strategy might be.
Is this project something Wyndham is already/will be looking at? Have you had any discussions yet with Dubai Holding about this?
As Wyndham Hotel Group continues to grow in the region and in Dubai specifically, we are continually evaluating opportunities to grow our portfolio and regional footprint.
We have not had any discussions as yet with regards to this specific development but it is an area we would definitely want to see our brands develop.
Are there any particular brands within the Wyndham portfolio which might be suited to this development?
A development such as this is virtually a city in its own right. It will surely require hotels for all market segments. We would love to add to our existing pipeline of upscale Wyndham Hotels and Resorts properties in an area such as this, as well as catering to the demand for midscale hotels through our Ramada and TRYP by Wyndham brands and for long stay guests through our extended stay brand Hawthorn Suites by Wyndham.
Ideally, such development should also be supported by budget brands such as the Ramada Encore tier and Days Inn but we will have to see the land prices and evaluate the financial viability of such products.
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What are your thoughts on the project having so many hotels in such a concentrated area?
We look at this as an initial plan which, as with many areas in Dubai, may be adjusted as it develops. We do not see property investors or ourselves venturing into an area where the demand and the yields are not up to the market expectations.
The numbers may seem ambitious but if there is one thing to be sure of, it is that Dubai never ceases to surprise by continuously creating new districts and attracting additional demand.
Is there any risk of this damaging other entertainment areas and venues or is there this room for growth?
When I look back ten years ago at the retail industry in Dubai, when the major mall was City Center in Deira, people were very sceptical about the opening of the Mall of the Emirates and everyone thought that there would not be enough demand for two large malls in the city.
Look where we are now - City Center, Mall of the Emirates, Ibn Battuta and Dubai Mall are all open and very successful! With the increasing demand, the opening of the DWC airport, the expansion of Emirates airlines and favourable exchange rates attracting more and more visitors, I believe that an entertainment development such as Mall of the World has every chance of doing very well.
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