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6 December 2020

Mismak Properties signs new hotel management agreement with Shangri-La Group

Abu Dhabi, 6 December 2020: Mismak Properties, has signed a new operating agreement with Shangri-La Group for the management of Shangri-La Hotel, Dubai.

Mismak Properties added the 42-storey tower on Sheikh Zayed Road to its property portfolio earlier in 2020, with the Hong Kong-based Shangri-La Group continuing to operate the hotel.

Jasim Al Ali, CEO of Mismak Properties said: "We are very excited to have signed an agreement with Shangri-La Group, Shangri-La Hotel, Dubai is a landmark property located at the heart of the dynamic city. The acquisition of the hotel tower earlier this year presents Mismak Properties with an unprecedented opportunity to add significant value to our portfolio of hospitality assets. Shangri-La Hotel, Dubai is an iconic part of the UAE's hospitality landscape, and we are delighted to add the property to our portfolio."

Oliver Bonke, regional chief executive officer - Middle East, Europe, India and the Americas-Shangri-La Group said: "We are honoured to continue to create moments of joy for our guests in Dubai, with Shangri-La Group's heartfelt hospitality. Shangri-La Hotel, Dubai has been operating successfully for 16 years in a highly competitive environment and continues to achieve results that support our positioning as market leaders."

Shangri-La Hotel, Dubai features 490 luxurious rooms, suites, serviced apartments and residences, as well as award-winning restaurants and bars, event spaces and CHI, The Spa. The hotel is part of Shangri-La Group's collection of more than 100 international locations.