Dubai-based luxury hotel operator Jumeirah Group said the global economic downturn hasn't slowed its aggressive expansion plans and the company expects to sign new management contracts in Bangkok and the Chinese cities of Beijing and Hangzhou later this year. The hotel and retail unit of Dubai Holding LLC - a conglomerate controlled by Dubai's ruler, Sheikh Mohammed bin Rashid Al Maktoum - said it is on track to boost its portfolio of hotels and resorts to 60 by 2012 from 11 now, focusing particularly on the Asia-Pacific region, where it sees the biggest growth potential.

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