UAE Maintains High RevPar In Gloomy 2009
Published by Irhal
Calendar year 2009 is closing and the hospitality industry is looking back at gloomy 2009 balance sheets, although the UAE has managed to maintain one of the world’s highest revenue per available room (RevPar) figures. Ulrich Eckhardt, Middle East and Africa President for Kempinski, said it bluntly – “The economic downturn has been bad for the hospitality industry as a whole, and anyone saying otherwise is living…
Early this year all previous projections about the hospitality industry became irrelevant as the true nature of the global economic recession became apparent. Several big names in the industry faced financial difficulties. In February, Trump Enterprises Resorts filed bankruptcy. Dubai Property was forced to announce an indefinite delay in The Palm Trump International Hotel and Tower Well.
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