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Rosewood Hotels & Resorts is an international luxury hotel and resort company operating 31 hotels in 16 countries, currently owned by Hong Kong–based Rosewood Hotel Group. It was founded in Dallas in 1979 by Caroline Rose Hunt , the daughter of oil tycoon H. L. Hunt .
Rosewood Hotel Group, [4] [1] also known for its former trading names New World Hotel Group, [4] New World Hospitality [1] [5] and legal names New World Hotel Management (BVI) Limited, [5] New World Hotel Management Limited [6] is a Hong Kong–based multi-national hotel management group and the parent company of Rosewood Hotels & Resorts (founded in 1979).
Abu Dhabi itself has over a trillion US dollars worth of assets under management in a combination of various sovereign wealth funds headquartered there. [8] Abu Dhabi houses local and federal government offices and is the home of the United Arab Emirates Government and the Supreme Council for Financial and Economic Affairs.
The United Arab Emirates is a high-income developing market economy.The UAE's economy is the 4th largest in the Middle East (after Turkey, Saudi Arabia and Israel), with a gross domestic product (GDP) of US$415 billion (AED 1.83 trillion) in 2021-2023.
The interior fit-out works were delivered by Depa Interiors, Abu Dhabi with the hotel opening its gates in February 2005. The construction costs were around US$ 3 billion (11.02 billion dirhams ) making it the third most expensive hotel ever built, surpassed by the Cosmopolitan of Las Vegas in Las Vegas ($3.9 billion) and the Marina Bay Sands ...
Tourism is a major economic source of income in Dubai and part of the Dubai government's strategy to maintain the flow of foreign cash into the emirates. [19] The tourism sector contributed in 2017 about $41 billion to the GDP, making up 4.6% of the GDP, and provided some 570,000 jobs, accounting for 4.8% of total employment. [20]