Word: istithmar
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Dates: during 2000-2009
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...Maktoum (a pioneering figure in the conservative, Muslim Arabian Peninsula) has established with Kerzner - a famously hard-working, hard-partying casino mogul who is Jewish. Starting more than a decade ago, their affiliation has matured into a full-fledged business relationship that seeks opportunities far beyond Dubai. In 2006, Istithmar, another of the "Dubai Inc." companies owned by Sheikh Mohammed's government, took a major stake in Kerzner International, which owns and operates luxury hotels from Mexico to the Maldives, principally under the One & Only brand. "[Kerzner] fits very well with Sheikh Mohammed," says bin Sulayem (who is also chairman...
...open a second hotel and is already scouring the globe for suitable locations. There's already an easyHotel franchise in Basel; two more London branches are set to open this summer, followed by others in Luton, England, and Budapest. EasyHotel has also inked a deal with Dubai's Istithmar Hotels to open another 38 in the Middle East, North Africa and Asia. Meanwhile, a third Yotel may open as soon as year-end at Amsterdam's Schiphol Airport. Kuwait's IFA Hotels and Resorts, which is providing financial backing for the Yotels, "wants to expand very, very fast around...
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