Dubai Knows It Has an Unhealthy Luxury Hotel Imbalance

A company owned by Dubai’s government plans to open four hotels in the sheikdom next year to expand the supply of mid-priced rooms in a market dominated by luxury accommodation, its chief executive officer said. Wasl Asset Management’s Hesham Abdullah Al Qassim said the three-star properties will each have 150 to 200 rooms and will be managed by Hilton Worldwide Holdings Inc. and Hyatt Hotels Corp. Wasl plans to build 19 hotels before end of 2017, he said. “We want to fill the gap,” Al Qassim said by phone. “If you look at