Zinc InVision to develop 28 hotels in the Middle East
Posted: Mon 7 Feb, 2011 12:18 PM
Zinc InVision, a joint venture between Thailand s InVision Hospitality and Singapore investment firm Cinnovation CG, is set to build 28 hotels throughout the Middle East by 2020. This development project is part of the US$180-million plan targeted to get a piece of the Asian tourism market.
Zinc InVision plans to open four deluxe hotels, two five-star and two mid-tier properties in Dubai, spending an average of US$16-million to US$38-million on each property. Jean Marc Lafosse, vice president of development, Zinc InVision, was quoted in Tour Expi as having said that Dubai s five-star hotel market is slowly recovering and the revenues per available room is also increasing, allowing them a perfect time to come in and leverage their presence in the area. The Bangkok-based firm also aims to launch four hotels each in Egypt and Morocco, three in Saudi Arabia and two each in Bahrain, Oman and Qatar.
Zinc Edge, their flagship property, is expected to launch in Jebel Ali by the end of 2014, creating an estimated total of 300 jobs.
