R Holding's hotel and hotel managment subsidiary, R Hotels, announced last Sunday that it would be investing AED1.5 billion in its acquisition and development plans. The Dubai-based firm said it was on track to double its hotel portfolio to a total of six hotels by 2015's end.

R Hotels currently owns and operates three hotels under the Ramada brands, namely the Ramada Downtown Dubai, the Ramada Hotel & Suites Ajman and the Ramada Beach Hotel Ajman. The plan is to increase its portfolio by opening three more hotels in the UAE in the next couple of years. 

According to R Hotels Managing Director Sumair Tariq, "R Hotels has kept a consistent growth strategy since its inception. Our focus has been on trophy assets and building a strong team. We plan to invest AED 1.5 billion towards our acquisitions and development over the next three to four years and have already committed AED500 million in 2013."

Part of the overall investment plan would be to bring new hospitality brands to the UAE to address demands of the growing tourism industry in the country.