Jumeirah Group aims to double its hotel portfolio by 2030

The luxury hotel group Jumeirah, owned by the Emirati state, plans to double its prestigious portfolio of establishments by 2030. Founded in 1997, Jumeirah became part of Dubai Holding in 2004, a holding company owned by Sheikh Mohammed bin Rashid al-Maktoum, the ruler of Dubai and Vice President of the United Arab Emirates.

The group will follow an extensive plan called 'Mission 2030,' with the objectives of expanding its hotel network, elevating its presence in the ultra-luxury segment, and diversifying offerings and experiences tailored for a highly discerning clientele. The ultimate aim is to rank Jumeirah among the top five global hotel brands. Currently, the group operates 26 properties in Europe, Asia, and primarily the Middle East, including the iconic Burj Al Arab tower. In the dining sector, it owns 85 venues, with about twenty recognized by the Michelin or Gault & Millau guides.

In Europe, one of the target regions for the 'Mission 2030' project, Jumeirah has already established several prestigious addresses, including the Richemond in Geneva (acquired in 2023), Port Soller in Majorca (located on a spectacular cliffside site), the Lowndes and The Carlton Palace in London, and the Capri Palace in Capri. The group primarily targets Europe and the United States, especially in major cities, for new acquisitions, taking advantage of a thriving luxury tourism market estimated at between 130 and 170 billion euros annually in Europe.

The implementation of the 'Mission 2030' strategy begins this year, with the introduction of a range of unique immersive experiences in wellness, environmental stewardship, cultural immersion, and arts exploration. "The world of luxury continues to evolve in response to consumer demand, especially from Millennials and Generation Z. As a brand, we must continually innovate to remain relevant," says Katerina Giannouka, CEO of Jumeirah Group, who has been in the position for just over a year after a long career at Radisson.

Dubai Holding has been heavily invested in the hospitality sector since its inception. In September 2023, the group signed a contract with Accor and Banyan Tree Group to welcome the Banyan Tree brand to Bluewaters in Dubai. The company had already invested $12 billion in a large real estate and hotel project in Morocco in the previous decade.