Nakheel Hotels to pause in US investments | gulfnews.com
As Nakheel Hotels celebrated the opening of the Fontainebleau Miami Beach resort this weekend, Gulf News has learned that the company is planning a "pause" in US hotel investments as it eyes markets in Asia and the Middle East for its future developments. Following the announcement in April that Nakheel Hotels had bought a 50 per cent stake in Florida's iconic Fountainebleau Miami Beach Hotel, the grand opening of the newly renovated resort was celebrated by dignitaries, businesspeople and a host of celebrities on Friday night. Nakheel Hotels, a business unit of Nakheel which is part of the Dubai World holding company, invested $375 million with Fontainebleau Resorts, LLC, a privately-held, Las Vegas-based resort developer, for a 50 per cent interest in the famous hotel.
