TFG Asset Management has been appointed the exclusive Hotel Asset Manager (HAM) for Millennium Place JVT Dubai, a new prestigious lifestyle hotel located in Dubai’s up-and-coming Jumeirah Village Triangle (JVT) district.
The appointment comes after Millennium & Copthorne Hotel Group recently signed a management agreement to operate the new four-star hotel with the property’s owner, The First Group.
Millennium Place JVT Dubai is scheduled to open in 2019 and will offer an inventory of around 580 units targeting the corporate and transient traveler segments. Facilities will include two specialty restaurants, a spa, a business centre, and a health & fitness centre.
JVT is one of Dubai’s most sought-after commercial and residential communities, close to several major landmarks and attractions.
They include the upcoming World Expo 2020 site in Jebel Ali, designed to cater to 25 million event goers, as well as Dubai’s new mega aviation hub, Al Maktoum International Airport, which when fully operational, will have the capacity for more than 220 million passengers annually.
Dubai International is also a short drive from JVT, as are popular shopping destinations Dubai Mall and Mall of the Emirates, while the brand new and hotly-anticipated Al Khail Avenue Mall development, due to open in 2018, is on the doorstep of the new hotel. Nearby attractions include Global Village, Dubai Miracle Gardens and the soon-to-open triple theme park attraction, Dubai Parks & Resorts.
When completed, JVT will comprise residential, commercial and hospitality real estate components, according to master plans.
“Millennium Place JVT Dubai is well placed to capitalise on the continuous growth of the emirate’s tourism sector,” said Hani Mansour, Senior Hotel Asset Manager at TFG Asset Management, Dubai.
“We are very excited to take up this new challenge and anticipate the property will report a robust performance.”
21/08/2018 - Our Portfolio UpdatesThe importance of a hotel’s FF&E Reserve revealed
20/08/2018 - HospitalityFirst Central Hotel Suites to roll out new innovative guest facilities
19/08/2018 - Our Portfolio UpdatesHow asset managers can help mitigate the impact of wholesalers’ new ‘bad’ pricing practices
16/08/2018 - HospitalityWhy the Hotel Industry Should Take Social Media Seriously
28/07/2018 - Hospitality