(MENAFN) Landmark Zenath Group (LMZ Group), the Dubai-based leading business house in the UAE, plans to open five properties under the 'Landmark' brand worth USD27.2 million by end-2017.
Two of these will be in Dubai Investments Park, offering 370 rooms; the 3rd has 185-rooms opening on Shaikh Zayed Road, 4th is a 175-room hotel in Deira scheduled for 2017, while the 5th, Fujairah, will house 246-rooms.
The group's strategy has been to develop in non-freehold, building and managing a varied range of small and medium projects, including commercial, residential, showrooms, warehouses and staff accommodation.
"It's a lot efficient to operate mid-market hotels, and it's more attractive to secure financing for such an asset class, which does not necessarily carry the same risk luxury hotels do," said the group's director.
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