Istithmar World appoints CEO for QE2 venture

The company will develop a multifaceted hospitality and entertainment destination, featuring the world's most famous liner - QE2 - as its centrepiece.

Under the direction of Ursprunger, the QE2 division will manage all activity surrounding the refit and redevelopment of the celebrated liner, following its delivery from Cunard Line to Istithmar World in November 2008. QE2 will then be based at a specially-constructed pier at The Palm Jumeirah from 2009, with developments in the surrounding area to include hotels, retail space, a maritime museum and a residential offering. In tandem with this activity, the QE2 project will also develop associated merchandising ventures related to the iconic liner once it passes into Istithmar World's ownership.

Ursprunger brings almost 30 years of cruise and hospitality industry experience to the new Istithmar World. His appointment follows significant success in senior level roles at Norwegian Cruise Line, NCL America and Orient Line, Silverseas Cruises, Holland America Line, Costa Crociere, Celebrity Cruises and Renaissance Cruises. One of Ursprunger's first tasks will be to assemble a talented team of experts that will develop, coordinate and manage this exciting venture. The first step for the company will be planning of the ship's immediate and long-term future once she passes into Istithmar World's ownership.

Commenting on the appointment, Alan Rogers, Chief Executive of Istithmar World Real Estate, said:

"QE2 will become one of the must-see attractions of Dubai. It is critical we have the highest quality of management for the project and we believe that with Manfred at the helm, we will deliver the best possible results for Istithmar World, for our partners and for Dubai."

Ursprunger added:

"The opportunity to work with Istithmar World on what is indisputably the world's favourite liner is something that anyone in the industry would relish. I am proud to be heading up the QE2 project, and dedicated to building a team focused on delivering a unique luxury experience for guests and visitors, making a significant contribution to the tourism and leisure offering of Dubai."

From 2009, QE2 will be berthed at The Palm Jumeirah developed by Nakheel, one of the world's largest real estate developers, where it will become a permanent attraction as a floating hotel, retail and leisure destination. A planned refurbishment programme will aim to recreate the original décor and fittings of QE2, and will also see the installation of a museum dedicated to the celebration of the ship's history and heritage.