MILAN — Giorgio Armani and EMAAR Hotels & Resorts finalized their pact on Tuesday to create a chain of hotels and resorts.

Under the terms of the agreement, the two companies will open seven luxury hotels and three vacation resorts over the next decade, backed by an EMAAR investment of $1 billion.

As reported, the first two hotels, designed by Armani and furnished with his products, are slated to open in late 2007 or early 2008. The Milan hotel will find a home above Armani’s Via Manzoni flagship. The Dubai Armani hotel and luxury apartment complex, which will also include restaurants and a spa, will occupy a few floors of a skyscraper. The Dubai building, seen here, is currently under construction as part of EMAAR’s Burj Dubai retail and commercial complex. It will be one of the tallest buildings in the world.

“I cannot think of a more energizing prospect than bringing my philosophy of style and design to a collection of hotels and resorts,” Armani said in statement.

This story first appeared in the June 1, 2005 issue of WWD. Subscribe Today.

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