Hotels

Occupancy rate to hit 60pc for Armani Hotel this year

May 4 - Occupancy rates for Armani Hotel in Dubai will be about 60 per cent this year, said Marc Dardenne, Chief Executive Officer, Emaar Hospitality Group and Emaar Hotels & Resorts.“Until now we have been running over 50 per cent occupancy, which is mostly from the GCC and the local market primarily. The international market has not started to come in yet as we have just started our booking engine," he said on the Arabian Hotel Investment Conference 2010 that started yesterday in Dubai.
"As for in the first year of operations, we are looking at anything between 55 per cent and 60 per cent occupancy. And we are looking at the starting room rates of about $1,000 [Dh3,670]. That is the anticipated projections we have and we believe that we can achieve that," he said. The hotel would have an international mix of guests in its first year, said Dardenne. "However, in the summer period, the GCC is going to be a key market for us. There's no question about it. And as we go forward, it's going to be more and more international."
Meanwhile, the hotel has received the best response from Japan, China, US, Italy and other European markets. Asked if there were anymore Armani hotel projects planned for the Middle East, he said: "There is nothing in the pipeline yet for the Middle East but obviously we are not saying no to any opportunities that fit the brand."
The next Armani Hotel will open in Milan next, and 10 more of these properties are planned for the next 10 years.
 

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