Angsana Hotel and Suites Dubai is set to close its doors, another victim of the global financial crisis as the owners and managers have come to an agreement that the two towers now be sold off to become residential units.
Angsana, the luxury brand operated by Banyan Tree, saw its first Dubai property in Angsana Hotel and Suites Dubai, but now owners Damas have decided to sell the property after revenues were crippled by the economic downturn.
“We would like to thank Damas Hotels for their recognition of our management role in Angsana Dubai and we wish them well in the very difficult property and hotel environment currently,” said Berold Schroeder Banyan Tree Hotels and Resorts, SVP and Hotel Operations Managing Director.
“Our immediate concern is to minimise any inconvenience to our guests; we have ceased taking reservations and confirmed bookings will be sensitively relocated.”
Banyan Tree has also said that it will compensate staff as well as assist them in finding new jobs.
The 417-suite hotel saw a soft opening in November of 2007, with Tower 1 dedicated to suites and Tower 2 dedicated to hotel rooms.
Doors are expected to officially close to guests on the 30th of September and the hotel is working now to rebook clients into other hotels.
