(MENAFN - Khaleej Times) The 50 million joint venture brings together two significant hospitality forces in the middle east.
dubai — international hotel and real estate developer ifa hotels & resorts has joined forces with kuwait-based tijaria to launch their first-ever vacation club business. the announcement was made on the opening day of the arabian hotel investment conference.
the 50 million joint venture brings together two significant hospitality forces in the middle east.
talal al bahar chairman and group ceo of ifa hotels & resorts believes the club fills a gap in the current market.
“the aria vacation club is the first middle eastern-backed vacation club with the capacity to dominate markets in the mena south-east asia europe and north america. we have done our research and have addressed previous barriers to this market” he said.
“we have a number of wold-class assets in our stable a proven executive team in place the capacity to leverage the region’s most comprehensive consumer finance solution and a well-respected jv partner in tijaria. we are extremely happy that tijaria has partnered with us on aria.”
these fundamentals combined with ifa hotels & resorts’ ownership interest in rci middle east puts the aria vacation club in a position to build the strongest collection of exchange partnerships in the mena and south-east asia and to capitalise on its first-mover advantage in dubai.