# Dubai Holding own a hotel



## smussuw (Feb 1, 2004)

I dont have much information.

All what I know that this hotel have more than 600 rooms in New York and Dubai Holdings baught it.


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## Dubai-Lover (Jul 4, 2004)

Jumeirah to manage New York's top hotel 
Posted: Friday, September 09, 2005

Dubai 


Jumeirah, the Dubai-based luxury hospitality group, has been named to replace Starwood as the hotel operator for New York's Essex House Hotel, following its acquisition yesterday by Dubai Investment Group.

Jumeirah will be working closely with Dubai Investment Group, a member entity of Dubai Holding, on a $50 million renovation programme of the Essex House Hotel to create a 500-room premier property on Central Park South in the heart of New York City.

Dubai Investment Group bought the property from Strategic Hotel Capital, a private company whose principal shareholders are Goldman, Sachs & Co. affiliates and investors advised by Prudential Real Estate Investors. Terms of the sale were not disclosed. 

The hotel, located at 160 Central Park South, between Sixth and Seventh avenues, was built in 1931 and includes the 501-room Westin and a 104-room St. Regis.

The building also includes 148 private individually owned condominiums, of which 139 were not included in the sale of the property, the owners said.

Dubai Investment Group has been on a US real estate binge. This year, through its various investment arms, it has purchased the Sir Francis Drake Hotel in San Francisco and a $1 billion portfolio of 21,000 apartments, a Reuters report said.

The management contract acquisition follows Jumeirah's re-branding announcement in June this year, where the group also announced aggressive expansion plans to increase its portfolio to 40 hotels in the next five years. 

Jumeirah will assume management of the Essex House Hotel in January 2006.

Gerald Lawless, chief executive officer of Jumeirah, said: "We feel privileged to have been awarded the management contract for this historic hotel in New York. We recognise the responsibility we have to enhance Essex House, and to consolidate its position as one of New York's few remaining truly original hotel experiences. We are very much aware of the contribution that the great staff of the hotel makes to the hotel's success, and we look forward to working with them in the future." 

Lawless added: "We plan to create a true contemporary classic in New York, reflecting the tradition of the hotel's historic past and the ambition of its luxurious future." Plans for the hotel renovation will include extensive redesign and refurbishment of the lobby, rooms, public areas and the creation of market-unique food and beverage outlets. The hotel will remain open during the renovation period, which is expected to be completed by the end of 2006.

Lawless stated that both the hotel's new owners and new management company are focused on the objective of developing Essex House Hotel into a luxury destination hospitality experience, complementing New York's reputation as the world's leading business and leisure city.


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## juiced (Aug 18, 2004)

Essex House Hotel, doesnt have an exclusive ring to it does it?


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## smussuw (Feb 1, 2004)

Juiflo Essex House Hotel? :rofl:


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## dubaiflo (Jan 3, 2005)

LOL right.thats better. the jui is ok, without this would be tooo upscale luxury. 

btw my grandmother has been there, said it was nice.


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## Ben_Burj (Aug 28, 2005)

smussuw said:


> Juiflo Essex House Hotel? :rofl:


smussuw down manhaten house Hotel

Or JuiKraut essex House Hotel


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## smussuw (Feb 1, 2004)

DIG purchases New York's landmark Essex Hotel

Sep 9, 2005 - 09:12 - 

New York, 9 Sept. 05 (WAM) - Dubai Investment Group has purchased New York's landmark Essex Hotel from Strategic Hotel Capital LLC. 

Dubai Investment Group is planning a $50 million renovation of the hotel to create a high-quality, five-star property of the Essex House. The hotel was built in 1931 and is acknowledged as one of the premier hotel locations at 160 Central Park South. 

The two components of the Essex House include the 501-room Westin and a 104-room St. Regis. There are also 148 condominiums Dubai Investment Group noted that there would be no decrease in employment at the Essex House. As a luxury hotel, the Essex House will be fully staffed as a high-service, high-quality operation. 

"This investment by Dubai Investment Group represents our recognition of the economic vitality of New York City. It is emblematic of our view that New York City and its hotel industry have a very strong and vibrant economic outlook. Essex House is one of the most refined hotels of the world with a history, making it truly a landmark for New York," said Mohammed Al Gergawi, CEO of Dubai Holding, the parent company for Dubai Investment Group. 

"Our plan is to make the Essex House an icon that becomes the premier destination for visitors to New York City." Strategic Hotel Capital LLC, the seller, is a private company whose principal shareholders are affiliates of Goldman, Sachs & Co. and investors advised by Prudential Real Estate Investors.

Dubai Investment Group is a member of Dubai Holding and focuses on four key investment areas: real estate, financial services, industrials and securities. In real estate, the company acquires and invests in value-add projects and transactions. The firm has offices in New York, London and Dubai. 

Dubai Holding currently operates 20 companies in sectors including hospitality, tourism, real estate, technology, communications, finance, energy, health, biotechnology, research, education and humanitarianism.


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