Ti’me For Capital Expansion

Published on : Monday, December 9, 2013

time-hotelUAE-headquartered hospitality company, TI’ME Hotels Management, has added another location to its expanding portfolio of regional properties with the recent opening of the TI’ME Pearl Residence in Abu Dhabi.

The centrally located 72-unit residence, which is situated just five minutes walk from the city’s popular Corniche promenade and close to downtown Abu Dhabi’s commercial hub on Khalifa bin Zayed Street, offers modern well-equipped two- bedroom apartments, ideally suited for long-stay guests.

Apartment facilities include a fitted kitchen with refrigerator, washer and full complement of modern amenities as well as high-speed Internet access and tasteful contemporary décor. Guests also have access to a fully equipped fitness centre.

“Demand for modern and competitively priced accommodation in Abu Dhabi continues to grow and with TCA Abu Dhabi noting an increasing trend towards longer stays – with an average of 3.16 nights – this puts TI’ME Pearl Residence in prime position to capitalise on sector growth with a new modern product in the heart of Abu Dhabi city,” said Mohamed Awadalla, CEO, TI’ME Hotels.

More than 120,000 GCC hotel guests checked into the capital’s hotels and hotel
apartments in the first eight months of this year, according to TCA Abu Dhabi
statistics, representing a 17% increase on 2012 figures.

“The TI’ME Pearl Residence addresses the issue of any potential gap in our product portfolio by offering competitive longer term rates in Abu Dhabi,” added Awadallah.
Guest nights also rose by 19% over the same period year-on-year to 262,290, with a length of stay slightly higher than the emirate average at 4.4 nights.

“Abu Dhabi aims to attract 2.5 million guests by the end of this year and TI’ME’s popularity with GCC travellers at our other UAE properties continues to underpin our strategy as we roll out net properties across the region,” said Awadalla.

Saudi Arabia is Abu Dhabi’s largest GCC inbound market, realising 133,634 hotel nights in the first eight months of 2013, followed by Oman (48,789), Qatar (41,767) and Kuwait (38,100).

The property will also be marketed to international visitors especially those working on mid to longer term projects, who enjoy a level of independence but with the service and comfort that operators with hotel apartment expertise can offer.

A second Abu Dhabi property is also under construction with the TI’ME Deluxe Hotel Corniche Apartments scheduled to open in 2015. The 42-storey property will feature 262 studio and one-bedroom apartments with facilities including a health club with swimming pool, all-day dining restaurant, retail space and basement car park.

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