Case Study: Palazzo Versace Hotel (PVH)

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DEFINITION OF THE TERMS USED

“Hotel” means a building or a part of the building which incorporates not less than 10 bedrooms (10) available for board and lodging services against a financial consideration; in this paper “hotel”means Palazzo Versace Dubai Hotel (PVH). “Affiliates” means entities that control, are controlled by or under common control with Company and any third parties that facilitate the booking of Hotel room reservations through the System.

“Stop Sell Date” is the date that PVH notifies the Company by email to stop the Sale of the Hotel bookings by the Company under the Agreement.

Rates for hotels may be as follows: Room Only (RO), Bed and Breakfast (BB), Half Board (HB), Full Board (FB), All Inclusive (AL).

“Net rates” …show more content…

PALAZZO VERSACE DUBAI HOTEL EXECUTIVE SUMMARY
Palazzo Versace Hotel is a limited liability company incorporated in the Emirate of Dubai with license number 680023, with address PO Box 128431, Culture Village, Al Jaddaf, Dubai, United Arab Emirates. PVH is a company with know-how and expertise in the management and operation of prestigious top world-class hotels. The ownership type is a freehold. Culture Village is a master plan by Dubai Properties Group where Dubai Properties Group is a master developer of Business Bay, Dubailand and The Walk at JBR, and currently running development of Culture Village project. This project will be a home to city’ to cultural institutions for opera, ballet, theatre and fashion shows, complete with academies for art, music, dance, pottery and other crafts and Palazzo Versace Dubai hotel will be a true jewelry representing the region and the first completed project within this area whatsoever. Set in the heart of the ‘Culture Village’ precinct, the Palazzo Versace Hotel is magnificently located along the Dubai Creek. Culture Village will certainly feature a large component of residential, …show more content…

Palazzo Versace Dubai will be only the second Palazzo Versace in the world and the first in the Middle East with 215 luxurious rooms and Suites and 169 Apartments. The 1st Versace Branded hotel was built in 2000 on the Gold Coast in Queensland, Australia. It was the world’s first fashion branded hotel. The initiative to develop a Palazzo Versace in Dubai originated back in 2005 when the shareholders of ENSHAA were looking for new investment opportunities. After that ENSHAA acquired 50% of Palazzo Versace Gold Coast and began planning Palazzo Versace Dubai. The idea was well received by Versace and Dubai Government authorities. PVD is fully owned and developed by ENSHAA who is one of the premier developers in the industry. As we know for LLC In UAE, it may have between 2 - 50 shareholders whose liability is limited to the capital invested and shares are also transferable. The PVH major shareholders include Emirates Investments Group, Majid Al Futtaim Group and Abraaj Capital. The current portfolio of ENSHAA includes Palazzo Versace Dubai, D1 residential tower and Emirates Financial Towers where first two are about to open, while EFT is

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