Millennium Hotels and Resorts has opened its 40th property in the Middle East and Africa region via a partnership with Deyaar Development PJSC, a UAE-based real estate development and property management company.
The 30-story Millennium Atria Business Bay hotel-apartment tower in Dubai will be managed by the Millennium's Middle East and Africa subsidiary and is the first property in Deyaar’s hospitality portfolio.
The first phase of the opening will include 156 apartments out of the hotel’s 347 units. The development also includes several restaurants, a kids' club, a fitness center and an infinity pool on the 25th floor.
“We are proud to see Deyaar’s first hospitality project commence its operations,” said Selim El Zein, assistant VP/hospitality at Deyaar. “This opening shows commitment to our vision to diversify our real estate portfolio, as well as the returns for our investors, to complement the value-added services Deyaar offers. Millennium Atria Business Bay will be a landmark in Dubai’s strong hospitality sector.”
Dubai was named the seventh most-visited city in the world in 2018, as ranked by Euromonitor International. According to the Department of Tourism and Commerce Marketing. Dubai's tourism sector was worth Dh109 billion in 2017. In first-half 2018, Dubai received 8.1 million tourists, with India, Saudi Arabia and the U.K. remaining the top markets. The city’s hotel inventory stood at 111,317 rooms in the first half, up 7 percent on the same period in 2017. Occupied room nights increased from 14.53 million to 14.97 million.