Beyoncé launches US$100,000-a-night Dubai resort’s luxury bet
- The American singer is reported to have charged US$24 million to perform at the opening of the US$1.5 billion Atlantis The Royal in Dubai
- Guests will have to pay an average of US$1,000 a night to stay in one of its rooms, with the top suite going for US$100,000 a night
In November 2008, Dubai’s first Atlantis hotel opened to much fanfare – a US$5 million firework display, A-list guests from around the world and a performance by pop star Kylie Minogue. Twelve months later, the emirate declared it was on the brink of default after accumulating a mountain of debt to transform the city into a business and trading hub.
Fourteen years on, Atlantis The Royal – just a short stroll away from the original resort – is set to open this weekend along with much of the same extravagance. Beyoncé will perform to a VIP audience for a reported US$24 million and fireworks will light up the sky above the city’s famous artificial tree-shaped island of Palm Jumeirah.
Dubai and Kerzner International will be hoping that the landmark opening of the ultra-luxurious hotel, which cost about US$1.5 billion to build, does not signal the top for the emirate that has been booming since it emerged as a safe haven during the pandemic, escaping much of the geopolitical and economic uncertainty elsewhere in the world.
“Dubai is in a significantly stronger position now than in 2009,” said Monica Malik, chief economist at Abu Dhabi Commercial Bank. “There is fundamental tightness in the real-estate market, the UAE has introduced regulations to reduce systemic risks and the tourism sector is broader, with more people globally discovering Dubai after its strong handling of the pandemic.”
If there were any concerns over the timing of the opening, the resort’s opulence does not show them. The hotel, made up of what appear to be interlocking Lego blocks, includes 44 suites with their own infinity pools, as well as one on the 22nd floor, a fire-breathing fountain show, celebrity chef restaurants and the world’s largest jellyfish aquarium. The 231 ultra-luxury residences in the building have already been sold.
Guests will have to pay an average of US$1,000 a night to stay in one of its rooms. The hotel also has more than 100 exclusive suites, with the top suite going for US$100,000 a night.