Al Habtoor is to knock down the Metropolitan Hotel in Dubai to make way for a $1.33 billion Las Vegas inspired luxury hotel project.
The development on Sheikh Zayed Road is to include three luxury hotels with a total of more than 1,600 rooms and a theatre which will be able to seat an audience of more than 1,000, Al Habtoor announced today.
The theatre will have shows that are similar to productions found in Las Vegas, the Dubai company said.
The 34-year-old Metropolitan is one of Dubai's oldest hotels and is famed for its nightspot, Rattlesnake, and the British style pub, The Red Lion.
The hotel is scheduled be demolished in April and work on the new project is expected to start in June and take about 40 months to complete.
"Parting with the Metropolitan Hotel, our first hospitality venture, is not easy as it is filled with great memories, but I always believe in looking forward," said Khalaf Al Habtoor, the chairman of Al Habtoor Group.
"The tourism industry in the United Arab Emirates and Dubai in particular is constantly and steadily growing, and we have to be prepared to cater for the growing needs of its visitors and residents alike."
He said the project would be funded with the group's own cash flow.