Hospitality, Aviation Sector Impacted By Rising Capacity, Falling Demand
Published by Irhal
The hospitality and aviation sector endured a year of rising capacity and falling demand, but continued to maintain its position as a growing market attracting new investment from international players. Airlines and hoteliers based their business plans for 2009 on the assumption that growth in 2007 and early 2008 would continue. However, the global economic slowdown caused some projects to be postponed while…
One of the major new hotels to open during the year was Yas Hotel in Abu Dhabi for the first Formula 1 circuit on Yas Island. The Saudi chain Rotana finished building Rose Rayhan, the world’s tallest hotel at 333 meters, with 712 stories. The hotel is located on Shaikh Zayed Road. Construction of the Armani Hotel within the Burj Dubai was completed this year. The Burj Dubai is the world’s tallest building. Also, plans are on track for upcoming projects by international chains like Louvre Hotels and Golden Tulip Hospitality Group.
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