The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Dubai / Emirates Business
Dubai-headquartered hospitality company, TIME Hotels, added a fourth TIME Residence to its expanding UAE portfolio of serviced apartments, by launching the first of two properties in Ajman, Palm 1 TIME Residence.
Launching in March 2017, the property will host 16 apartments for long-stay guests, each with state-of-the-art interior features and fittings and a range of facilities in the building to provide comfortable and convenient living. Located on Hafiz Ibrahim Street, the property is only minutes away from the beach and close to Ajman’s shopping district.
This launch will be followed by Palm 2 TIME Residence, featuring 20 long-stay apartments.
“Since launching the TIME Residence brand, we have seen the demand for quality and value serviced apartments rise across the region, as business travellers look for a home-from-home environment and leisure visitors especially families, increasingly require room configurations the traditional hotel model cannot always accommodate,†said Mohamed Awadalla, CEO, TIME Hotels.
“By adapting our flexible business model and service offering, we have created a hospitality brand that will work alongside our hotel presence to provide even greater choice for travelers,†added Awadalla.
Ajman Tourism Development Department (ADTT) recorded the emirate’s hotels generated revenues of AED410 million in 2016, with a total of 542,891 guests. Average hotel occupancy for the year stood at 69%, with hotel apartment occupancy at 75%, followed by furnished apartments (61%) and resorts (28.3%). During Eid al Adha, hotel occupancy toppto 98%, one of the many spikes witnessed throughout the year.
Ajman’s primary source markets remained unchanged in 2016, with UAE staycations remaining the strongest market, generating 134,900 guests, followed by the GCC nationals (84,310) and other Arab nationals (89,631).
“The Ajman tourism industry is going from strength to strength and we are delighted to be opening our first property as the work of ADTT to promote the emirate to new markets, begins to provide strong returns. Palm 1 TIME Residence will be an important addition to Ajman’s accommodation inventory, providing visitors with even more options for their stay in the emirate, and we look forward to welcoming our first guests,†said Awadalla.
TIME Hotels operates two TIME Residence properties in Dubai: Oak TIME Residence and Oak Villas TIME Residence, all of which target long stay business travellers and families looking for flexible, quality-led accommodation in the urban heart of the city.
Further plans exist to take the TIME Residence brand to Fujairah, with the launch of Platinum TIME Residence this year, allowing TIME Hotels to position itself strategically in the emirate’s expanding hospitality market.
The openings are part of the hospitality company’s region-wide expansion plans, which will add three new hotels in Dubai – TIME Asma Hotel, TIME Royal Hotel & Spa and TIME Express Hotel Al Jaddaf – and a further four hotels across Egypt, Saudi Arabia and Qatar.
“Our current pipeline of hotels and residences meets the demands of multiple markets by offering a high-quality hotel or serviced apartment for a market segment that is currently under-represented in the regional market.