Nakheel Hotels emerges major global player with investment worth $3 billion

Mandarin Oriental, Nakheel's property in New York

Nakheel, one of the world's largest and most innovative real estate developers based in Dubai, has emerged as a major global player in the travel and tourism industry as its Hotels division expands portfolio to key cities around the world. Nakheel Hotels is a platinum sponsor of the Arabian Hotels Investment Conference (AHIC) being held 3-5 May 2008 at Madinat Jumeirah.

Joe Sita, CEO of Nakheel Hotels, said, "AHIC is one of the premier events in our industry and reflects the prominence of the Middle East, and specifically Dubai, in the international hotel investment landscape. We have expanded our portfolio to include some of the best properties and brands in the world and our first hotel in Dubai, Atlantis on the Palm Jumeirah, will be opening this November".

Nakheel Hotels was launched in November 2007 as the new name for Istithmar Hotels after Dubai World consolidated its hotel business under one banner to create a fully integrated hotel investment company. In less than 2 years, Nakheel Hotels has accumulated an impressive global hotel property portfolio with an enterprise value of investments to date in excess of $3 billion.