QE2 Plans on Hold
By Allison Medoff
Plans to transform the Queen Elizabeth 2 British ocean liner into a luxurious floating hotel have once again been delayed. Ship owner Nakheel is strapped for cash and about to incur $3.5 billion of debt this year. However, the company has negated any rumors to sell and insists plans for the hotel are still in the go, just on temporary hold. In the meantime, it appears the ship will be moving from its Dubai home in Port Rashid to a temporary residence in Cape Town, South Africa. The move will allow the QE2 to open to tourists as a stationary hotel while funds are gathered to begin for refurbishment.
As one of two leading real estate developers in the United Arab Emirates, Nakheel has been suffering from the global financial crisis. Numerous plans, including two zealous projects have been put on the back burner, the opening of Donald Trump’s glamorous hotel and a skyscraper designed to become the tallest in the world. Late last year the company cut 15 percent of its staff and local reports suggest several hundred more layoffs have continued in recent weeks.
Speculative plans for the floating hotel includes stripping the current interior rooms and replacing them with 200, bigger luxury style suites and staterooms. The 1967 engine room will be remodeled to house a 500-seat theater comparable to the elite settings seen on Broadway. An opulent and grand spa is planned for the 7-star floating hotel as well. Eventually, the final berthing of QE2 will be at the Palm Jumeirah, a Dubai island in the shape of a palm tree. The island will be transformed to rival choice resorts and make a vacation aboard the QE2 something to marvel. Of course, Nakheel needs to cough up over $100 million dollars for the transformation and pay off its current debt. With those numbers maybe the QE2 will indeed change owners in the following months.
Email This Post
