MILAN, Italy, Feb. 23 (UPI) -- Italian luxury fashion and goods group Armani and a Dubai developer plan to open a $1 billion luxury hotel chain, the companies announced Monday.
"We have been exploring the idea of bringing the Armani
philosophy of design and style to hotels for many years," said Giorgio Armani, chairman and chief executive of Armani.
In the next seven years, 10 hotels and four resorts will open in Dubai, Milan, London, New York, Paris, Shanghai and Tokyo, said venture partner Emaar Properties in Dubai. At least six hotels and two resorts will be open within five years, Emaar said.
The Burj Dubai will be the tallest commercial and residential building in the world when it opens in three years, Emaar said. Its Dubai Armani Hotel is expected to have 250 suites, several restaurants and a spa. The Burj will also contain 150 luxury residences. Giorgio Armani will be in charge of interior design for the project, as well as furnish the residences with items from his Armani Casa collection.
Fashion groups Versace, Bulgari and Salvatore Ferragamo have also opened hotels.
