4 Seasons to announce first Dubai property

Four Seasons Hotels and Resorts, the luxury hotelier in which Saudi Arabia’s Prince Alwaleed Bin Talal’s Kingdom Holding Company owns a 47.5 percent stake in, is set to announce its first property in Dubai, the company has confirmed. \"Four Seasons Hotels and Resorts can confirm that we are close to making an announcement on a project in Dubai. Once all details are in place, we will be happy to discuss this exciting development which will be a great addition to the portfolio,” a spokesperson said in a statement on Monday. The Canada-based hotelier did not give any further details of its plans in Dubai, but the property is part of wider expansion in the region. “Four Seasons already operates nine hotels in the Middle East and has several others in the pipeline, including in Abu Dhabi, Jeddah, Bahrain, Kuwait and a second property in Doha. Four Seasons looks forward to our announcement of Dubai, a major hub for leisure and business travellers from all over the world,\" the statement added. Last month, executive vice president of worldwide development Scott Woroch confirmed construction had started on a property in Dubai “We’re very actively engaged on a project in Dubai. We’ve got a great site,” Woroch said in comments published by Construction Week. “It’s something we’re very excited about. It’s going to position the brand in very good location, with a great partner,” he added. The Toronto-based hotel firm has been looking for a suitable location in Dubai since construction of a Four Seasons hotel in Festival City was called off by developer Al-Futtaim Group Real Estate in June 2009 - at the height of the global economic downturn - according to Woroch. “Dubai is one of the most important markets in the Middle East, it’s a large in-point for a lot of travellers into the region and from an international perspective it really is the most established [Middle East] destination from North America, Europe and Asia,” he said. “Dubai has been very successful in being both a business and a leisure destination and that’s one of the reasons the market has been so successful.”