TUI, the leading global leisure and travel company has launched four new captivating tours set to provide customers with extraordinary experiences and more choice than ever before, with 70 tours on offer across the globe.
07.08.2024 - 12:30 / skift.com / Wynn Al-Marjan / Ras Al-Khaimah / Marjan Island / Josh Corder
Wynn Resorts has just closed a deal to buy another 70 acres of land on Ras Al Khaimah’s Marjan Island, giving the operator a total of 155 acres and ownership of a quarter of the entire island. Wynn is already developing a $3.9 billion resort in the emirate.
Of these 155 acres, Wynn now owns 40% of the land, while the other owners are Marjan — the developer of the island — and RAK Hospitality Holding, a state-owned hotel portfolio. To date, Wynn has put $514.4 million into the project.
CEO Craig Billings told investors during the quarterly earnings call on Tuesday: “During the second quarter, we contributed $357 million of equity to our UAE joint venture. This transaction included the purchase of our 40% pro rata share of all 155 acres of Island Three, the island on which Wynn Al Marjan sits.”
Billings added: “Our joint venture now owns not only the land under Wynn Al Marjan, but also 70-plus acres of land for potential future development on the Island. Of course, we have banked land before in the U.S. and Macau, and we are confident that acquiring this sizable Marjan land bank will prove valuable over the long term. As I have noted before, I believe the UAE is the most exciting new market for our industry in decades and our confidence in the demand and EBITDAR potential of Wynn Al Marjan continues to grow.”
Marjan Island is split into four separate smaller islands all connected to each other.
When Wynn announced its UAE project in 2021, it also registered trademarks for “Marjan Strip” and “Arabian Strip,” suggesting the operator has long-term goals of recreating the Cotai or Vegas Strip in the Middle East.
Wynn Resorts may manage other hotel brands in the region. In a first for Wynn, RAK Hospitality is paying Wynn “for what it knows,” akin to a hotel management agreement. This agreement could give Wynn the room to manage an entire portfolio of hotels on the island, bringing to life the “Arabian Strip.”
On this topic, Billings said in the April 2023 webcast that Wynn is looking at opportunities for additional developments around the Wynn. He said: “We and our partners are in active discussions around those adjacent parcels [of land] and I expect additional hotels will act as a powerful feeder to Wynn Al Marjan Island.”
In Wynn’s 8-K form for the quarter, Billings said the land presents “potential future development opportunities for Wynn Resorts or for selected third parties complementary to Wynn Al Marjan.”
There is also potential for Encore sister hotel — similar to Wynn and Encore in Las Vegas — since Wynn Resorts has registered the ‘Encore Marjan Island’ trademark as well.
Commenting on a question on who the UAE resort would cater to, Billings said in the call, he expects a big draw from India and
TUI, the leading global leisure and travel company has launched four new captivating tours set to provide customers with extraordinary experiences and more choice than ever before, with 70 tours on offer across the globe.
India’s tourism industry is undergoing a significant transformation. The Federation of Indian Chambers of Commerce and Industry (FICCI) projects the outbound travel market to reach $55.4 billion by 2034. At the core of this boom is India’s expanding middle class, driving both domestic and international travel as disposable incomes rise.
Tara Cannon and her husband Rand have traveled with their two kids for 19 years — since they were babies.
Every two years, droves of Disney fans descend on Anaheim, California, but not solely to visit Disneyland. They come together to celebrate their shared love of all things Disney with exclusive experiences, behind-the-scenes panels, shopping, cosplaying and so much more at D23: The Ultimate Disney Fan Event that takes place once every two years.
This earnings season, global travel leaders have agreed that the industry is in a slowdown. An exception to that, however, has been the Middle East, which bosses like Accor’s Sebastien Bazin noted was the operator’s best-performing region in the second quarter.
Western Air, The Bahamas based commercial airline announces the launch of daily, direct flights between Freeport, Grand Bahama and Fort Lauderdale Florida. The highly anticipated route begins Thursday, August 22, 2024 and will mark the airline’s second route connecting South Florida with the islands of The Bahamas. With a brief flight time of approximately 25 minutes, Western Air’s direct flights will offer both frequency and easy accessibility for Grand Bahama and South Florida residents seeking to enjoy a close, affordable getaway. Free checked bags are included up to 40 lbs.
The Ras Al Khaimah government is building a housing village for thousands of hotel staff as the emirate’s hospitality sector booms.
India now allows nationals from Japan, South Korea, and the United Arab Emirates to get a visa-on-arrival for tourism, business, conferences, and medical purposes. The visa will be valid for 60 days, and travelers will be able to visit India up to two times during that period.
This as-told-to essay is based on a conversation with Charissa Enget, a content creator and cybersecurity architect who gained her graduate degree in Thailand. It has been edited for length and clarity.
Australia and the United Arab Emirates are on a growing list of countries warning that travel to the UK may be a safety risk.
Aug 5, 2024 • 6 min read
Ras Al Khaimah Tourism Development Authority (RAKTDA) is thrilled to announce the return of HIGHLANDER Adventure, organized by HIGHLANDER, the world’s largest international hiking association. Set to take place from 7-9 February 2025, this premier long-distance hiking challenge will offer hikers and adventure enthusiasts the chance to test themselves on the spectacular trails of Jebel Jais, home to the UAE’s longest developed network of hiking trails at 80km.