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Acquisitions & Hotel Openings

Kleindienst Group Launches The Floating Venice - the World's First Underwater Luxury Vessel Resort - in The World Islands, Dubai

DUBAI, U.A.E. September 12, 2017 - Kleindienst Group today launches The Floating Venice, the world's first underwater luxury vessel resort at Cityscape Global. Valued at 2.5Bn AED (680m USD), The Floating Venice will be located in The World islands, 4km offshore from Dubai and will bring an authentic Venetian experience to the Middle East.

This unique floating resort has a capacity of up to 3,000 guests daily, with accommodation, restaurants and recreation split over 4 decks, one of which is underwater. Guests will arrive by boat, seaplane or helicopter to the main Piazza San Marco where they can check-in at the underwater lobby. Gondola's imported from Venice will transport guests to their cabins through the winding canals, or alternatively a short stroll through canal side walkways and bridges will take them to their awaiting cabins.

There will be a range of 414 bespoke cabins arranged over 4 decks, one of which is underwater giving spectacular views of the coral reefs below and passing gondola above. A plethora of elegant boutique hospitality spots and traditional artisanal shops will bring the Venetian experience to life. Throughout the year The Floating Venice will be a celebration of culture and the arts, where traditional festivals such as Carnivale di Venezia, Binnale di Venezia and Festa del Rendentore will bring the resort alive with the flair and heritage of Venice.

"As a developer our vision supports and aligns with Dubai's ambition to be a leading global destination and home of innovation as the world's most forward-thinking city. I am extremely excited and proud of The Floating Venice. Our aim is to enhance the landscape of real estate and hospitality and deliver a new iconic experience. The Floating Venice is the epitome of this innovation and spirit, the world's first luxury underwater vessel resort," - Josef Kleindienst, Chairman.

The Floating Venice offers an unrivalled experience for guests where they can relax in one of 24 pools, some of which will have acrylic bases giving amazing views of the coral reefs below. Over 400,000 sq ft of corals will be planted around The Floating Venice from our own on-site coral nursery which will encourage an abundance of sea life. 12 unique floating beaches set against the stunning backdrop of the Dubai skyline are scattered throughout The Floating Venice.

A collection of 12 restaurants and bars offer a variety of entertainment, 3 of which are underwater giving spectacular vistas of the dazzling marine life. Alternatively, the world's first floating underwater spa awaits to pamper.

The Floating Venice is set to become a new modern marvel and the latest iconic destination for Dubai. Its design echoes the ancient city with its elegant facades and magnificent palaces, the inspiration for the ultimate modern interpretation and natural progression of Venice, a luxury destination like no other.

The Floating Venice is made possible through the new technologies developed creating The Floating Seahorse. Constructed from a mixture of concrete for the underwater sections and marine lightweight materials for the upper decks, The Floating Venice is designed to have a lifespan of at least 100 years. Construction is scheduled to begin in Q1 2018 with completion by Q4 2020.

Kleindienst is the developer behind The Heart of Europe islands and The Floating Seahorse, the world's first luxury underwater living experience, which are located in the Arabian Sea 4km off the shores of Dubai. More information on the new project can be found at http://www.thefloatingvenice.com

Contact:
Steven MacEwan
media@kleindienst.ae
+971-4279-8704

Coming Up In The December Online Hotel Business Review




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Feature Focus
Hotel Law: Issues & Events
There is not a single area of a hotelís operation that isnít touched by some aspect of the law. Hotels and management companies employ an army of lawyers to advise and, if necessary, litigate issues which arise in the course of conducting their business. These lawyers typically specialize in specific areas of the law Ė real estate, construction, development, leasing, liability, franchising, food & beverage, human resources, environmental, insurance, taxes and more. In addition, issues and events can occur within the industry that have a major impact on the whole, and can spur further legal activity. One event which is certain to cause repercussions is Marriott Internationalís acquisition of Starwood Hotels and Resorts Worldwide. This newly combined company is now the largest hotel company in the world, encompassing 30 hotel brands, 5,500 hotels under management, and 1.1 million hotel rooms worldwide. In the hospitality industry, scale is particularly important Ė the most profitable companies are those with the most rooms in the most locations. As a result, this mega- transaction is likely to provoke an increase in Mergers & Acquisitions industry-wide. Many experts believe other larger hotel companies will now join forces with smaller operators to avoid being outpaced in the market. Companies that had not previously considered consolidation are now more likely to do so. Another legal issue facing the industry is the regulation of alternative lodging companies such as Airbnb and other firms that offer private, short-term rentals. Cities like San Francisco, Los Angeles and Santa Monica are at the forefront of efforts to legalize and control short-term rentals. However, those cities are finding itís much easier to adopt regulations on short-term rentals than it is to actually enforce them. The December issue of Hotel Business Review will examine these and other critical issues pertaining to hotel law and how some companies are adapting to them.