Valor Hospitality Partners Middle East, a global, full-service hotel management company, has signed a highly anticipated partnership with ICD Hospitality and Leisure, a wholly owned subsidiary of Investment Corporation of Dubai (ICD) that manages a portfolio of commercial companies and investments.
Under a long-term arrangement, the new joint venture, Valor Hospitality Partners DMCC, will scale up operations in the Middle East region by signing new hotel management agreements with hotel owners.
Leading global hotel groups have a majority of their hotels under franchise operations, and with Valor Hospitality enjoying preferred status or close partnerships with these hotel groups, the joint venture aims to create more momentum in the industry regionally.
Euan McGlashan CEO & Global Co-founder Valor Hospitality Partners
“We are incredibly proud and privileged to partner with ICD in this highly anticipated agreement on the back end of the recent pandemic crisis. Many owners are looking to franchise for growth, and this allows us to further develop our third-party management operations platform jointly in the Middle East region. The timing could not be better as the Middle Eastern hospitality and tourism sector has reached a level of maturity for this model to gain traction rapidly.”
“With Dubai’s reputation as a leading tourism hub it made sense to launch Valor Middle East here in 2018, as it was our intention to bring creative and innovative solutions to the region, making it the first global third-party operator to enter the market,” said Mr. Julien Bergue, Co-founder and Managing Partner of Valor Hospitality Partners Middle East.
“The joint venture with ICD will help us contribute to HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai’s ‘Vision 2040’, boosting development, tourism investment and innovation in the hospitality sphere as Dubai continues its popularity as a top global destination,” Mr. Bergue added.
