If you are familiar with the fashion industry, then you have definitely heard of Versace. The Italian fashion house is known for its luxurious designs and high-end products that have captured the hearts of many consumers around the world.
However, did you know that Versace has also ventured into the hospitality industry That’s right – Versace has a hotel that bears its name, but who exactly owns it
The Overview of the Versace Hotel
The Palazzo Versace Dubai is a 5-star hotel located in Dubai, United Arab Emirates. It is a collaboration between the fashion brand and Enshaa Group, a Dubai-based luxury property developer.
The hotel opened its doors to the public in 2015 and features 215 suites, eight restaurants and bars, three outdoor pools, a spa, and other high-end amenities.
Who Owns Palazzo Versace Dubai
The Palazzo Versace Dubai is owned by Enshaa Group, which is a subsidiary of Abu Dhabi-based Royal Group. The Royal Group is one of the largest private sector investments in Abu Dhabi with interests in real estate development and investment, hospitality management, and healthcare services.
It’s important to note that even though Enshaa Group owns Palazzo Versace Dubai, the hotel bears the name and design elements associated with the Italian fashion house because it was developed in collaboration with them.
What Does This Mean for Both Companies
For Enshaa Group and Royal Group, owning Palazzo Versace Dubai provides them with an opportunity to diversify their investment portfolio while also tapping into the luxury hospitality market. The partnership with Versace gives them an edge over other hotels by leveraging on their brand equity.
On the other hand, for Versace, having a hotel that bears its name and design elements is an opportunity to extend its brand beyond fashion. It allows the company to showcase its lifestyle and design ethos to a wider audience while also generating revenue from the hospitality industry.
Conclusion
In conclusion, Enshaa Group, through its parent company Royal Group, owns Palazzo Versace Dubai. However, the hotel’s association with Versace has been instrumental in attracting guests who are drawn to the fashion house’s luxurious designs and lifestyle. The collaboration between these two companies has been successful in creating a high-end hotel that appeals to those who desire an opulent experience.