Hotels

Investors consider converting luxury projects into budget hotels

April 5- Several investors in the UAE who are involved in luxury hotel projects are planning to convert them into budget hotels, it was learnt on Sunday. In fact, many analysts expect that the mid-segment hotel market will grow in the coming months since it is a virtually untapped market. "Only about 20 per cent of the total hotels in the region are budget, so there is a huge growth opportunity," said Arnaud Andrieu, Vice-President, CB Richard Ellis Hotels, Middle East. The new motto is “comfort at an affordable price”.
"Earlier most of the investors were keen on developing luxury hotels. The trend is changing and many investors who have invested in land or want to enter the hospitality sector are now exploring the budget segment," said Andrieu. The sector may also see some tie-ups between global mid-segment brands in the region by the end of this year.
International brands such as Premier Inn, ibis and Citymax are already in Dubai  and are bullish on the budget segment in the region. This, according to analysts, shows a mature tourism market in the Gulf region. Also, budget hotels have reported better occupancy levels as compared to their luxury counterparts.
Meanwhile, he global hotel index by STR Global, the international hospitality research firm, indicates that the Middle East and North Africa (MENA) region tops both in occupancy and average daily rate (ADR) in the first quarter of 2010.

More Hotels
Iconic Sheraton Cairo reopens after extensive renovation
Waldorf Astoria Ras Al Khaimah invites guests to savor international culinary delights
Eid brunch at Bahi Ajman Palace Hotel
Latest Travel News
Iconic Sheraton Cairo reopens after exte...
Qatar Airways launches direct flights to...
Emirates launches dedicated airport loun...
Featured Sights To See
The Bahrain Fort

The Bahrain Fort

Bahrain, Bahrain

The Qala'at al-Bahrain (Bahrain Fort) is on the northern shore, five minutes from Manama city. The Portuguese constructed the fort in the 16th century, after which it fell into disrepair. However it has now been superbly restored to its former grandeur. Next door to the fort is an unmarked building that is the museum housing numerous artifacts from the ancient Dilmun period through to the Islamic ...

Gesuati

Gesuati

Venice, Italy

Giorgio Massari was commissioned to build this monument, in remembrance of the day when the Dominicans took hold of the church of Santa Maria della Visitazione from the suppressed order of Gesuati laymen in 1668. The building houses several works by Giambattista Tiepolo (1696-1770), Giambattista Piazzetta (1683-1754), and Sebastiano Ricci (1659-1734). Address: Zattere, Dorsoduro, Venice Pho...

Rebublic Square or Jumhooree Maidan

Rebublic Square or Jumhooree Maidan

Maldives, Maldives

The Republic Square is beautifully built with green grass and lush plantation, along the northern waterfront. It is Male's most popular venue amongst adults and children alike for social gatherings and recreation. On the Eastern end of the square stands the official flag post on which the largest permanent flag in the country is hoisted. When you arrive in Male, this is the place where you are ...

Asan Tole

Asan Tole

Kathmandu, Nepal

The busiest square in the city, from dawn to dusk it is crammed with vendors selling spices and vegetables from all over the country. It is fitting then that Annapurna Temple is dedicated to the goddess of abundance, represented by a purana bowl of grain. On Sundays and other days of the week, you’ll see locals walk around the shrine, touch a coin to their heads, throw it into the temple then ring...