Aldar to Invest $410 Million In Its Hotels

Aldar, the leading real estate developer, investor, and manager in the UAE, on Wednesday said that its hotel portfolio will undergo an $410 million transformation to capitalise on growth of the UAE’s tourism sector and tap into the global luxury travel market.

The Emirate attracted 27% more hotel guests in 2023 than in the previous year, with international guest arrivals increasing 54%1 in line with the Department of Culture and Tourism – Abu Dhabi’s strategy to boost visitor numbers to 39.3 million by 2030.

This growth has been supported by the opening of the new Terminal 1 Abu Dhabi Department of Culture and Tourism at Zayed International Airport, which has capacity for 45 million passengers, as well as the success of world-class attractions in Saadiyat Cultural District and Yas Island.

Aldar’s investment programme to elevate its hotel assets into luxury resort-style properties responds to growing demand for premium hospitality experiences in Abu Dhabi amid rapid expansion of the leisure and tourism sector, the company said in a regulatory filing with Abu Dhabi Securities Exchange (ADX) this morning.

As part of this strategic programme of enhancements and upgrades, Aldar has partnered with Hilton to operate the Eastern Mangroves hotel under the iconic Waldorf Astoria brand.

Yas Plaza and the desert resort formerly known as Tilal Liwa will both be reimagined under the Vignette Collection brand, an IHG Hotels & Resorts concept that represents a curation of distinct hand-picked hotels, each offering one-of-a-kind stays in destinations to remember.  The Yas Plaza hotels will be the largest Vignette Collection resort in the world.

Aldar Group CEO Talal Al Dhiyebi said that the UAE continued to enhance its appeal as a premier international leisure and tourism destination, and the government has a clear vision to further develop tourism infrastructure and attractions.

He added: “In this context, we see a tremendous opportunity to enhance and reposition our hotel portfolio to meet expected demand in the luxury segment, while maximizing the revenue potential of each asset. We are also incredibly excited to provide our customers with the opportunity to experience two world class hospitality brands in Abu Dhabi for the first time.”

Revising Yas Plaza’s Masterplan

At Yas Plaza, Aldar is revising its entire masterplan to turn the six-hotel complex into a fully integrated resort that will be operated by IHG’s ‘Vignette Collection’ brand and renamed Straylight Yas.

For the first time, the resort will have access to a private beach and Aldar will add beachfront suites to provide even more choice for guests. Once completed, the resort is expected to become Yas Island’s premier destination for both international and local guests, complementing the vision of the island as a leading leisure and entertainment destination.

Meanwhile, the Eastern Mangroves hotel will become the Waldorf Astoria Abu Dhabi, transformed through a comprehensive upgrade to focus on luxury rooms and suites, as well as state-of-the-art leisure and event facilities.

The property will deliver Waldorf Astoria’s globally acclaimed elegant service, one-of-a-kind experiences, and world-class gastronomy – set against the lush backdrop of the mangroves.

Aldar will also introduce luxury residential living as part of the broader master plan, with enhancements to the promenade and marina, and a brand-new retail mix.