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Hotel revenue per available room (RevPar) in Dubai dropped 35% to $217.5 in February 2009 compared to $335.5 for the same period last year. Deloitte and Touché consultancy firm carried out the STR Global Hotel Survey showing the steep drop in RevPar. Consultants said that hotel revenues are decreasing as fewer visitors come to Dubai and more new hotels open their doors. The impact of the global economic…
Coral Hotels & Resorts, which currently has properties only in the Middle East, plans to expand into new markets worldwide and have 100 hotels by 2012. They currently have 15 hotels, are expanding aggressively, and will have 15 more by the end of 2009 . Chairman and CEO of Coral’s parent Company Manafa said their vision is to “go global in this sector”. He said they are planning further expansion in the Middle…
Major international hoteliers are focusing on Abu Dhabi as the capital invests billions of dollars into the tourism industry in order to ensure it plays a significant role in economic growth. Chief executive for the consultancy organization Fast Future says Abu Dhabi is becoming an important focal point for major hotel brands because of the expected long term growth. Dubai’s Jumeirah Group, Hilton Hotel, Ritz…
Ireland based Grand Midwest Group opened its third apartment hotel in Dubai yesterday and is planning to launch two more properties in the UAE. Group Chairman for Grand Midwest said the company had planned more properties but because of the economic downturn they will focus on launching the two additional planned properties in the UAE by 2010. He said Dubai is not immune from the global economic downturn but…
The Dubai Department of Tourism and Commerce Marketing (DTCM) released revised figures showing that compared to 2007, hotel revenue in Dubai increased 15.1% and the number of guests rose by more than 8%. Hotel revenues last year were Dh15.27 billion and the number of hotel rooms increased 17.9% to 50,457 in 2008. DTCM released preliminary figures in March showing hotel revenue last year was Dh15.25 bn and the…
A new report by Caterglobal.com showed that 75% of the twenty one per cent of Middle Eastern and North African hotel staff find work within the same industry. Caterglobal.com is one of the worlds leading hospitality recruitment websites. Caterglobal’s report was presented at the four day Arabian Travel Mart event being held in Dubai between May 5th and May 8th. The report surveyed over 3,500 hospitality…
Hotel operators say the number of budget hotels in Abu Dhabi is increasing as the market reaches maturity. Director of Development for the Intercontinental Hotel Group (IHG) Rani Gharbie said the hotel market in Abu Dhabi consisted of about 2/3rds luxury and one third budget accommodations. In developed markets the ratio is the opposite. Mr. Gharbie said projections of development plans show the market…
Accor said on Sunday it plans to increase the number of hotels in the Middle East from 19 at present to 24 in 2011, then 65 by 2013. The French hospitality group said it will focus on the budget and middle income sector. Business conditions have worsened, dampening demand for its top end and mid range hotels and Accor’s first quarter sales dropped 9.6 per cent. Accor’s Director for the Middle East…
Bahrain authorities target sleaze in a shutdown of bars, discos and two star hotels. The clampdown comes shortly following a report on askmen.com that a survey ranked Manama as the eighth sin capital of the world and said that Bahrain is a Middle Eastern party oasis. Lawmakers were reportedly furious. The new rules also come at the end of a drive last year by Tourism Affairs to clean up the hotel and restaurant…
A survey of more than 92,000 room bookings in 30 US and international destinations by US travel management company Ovation Travel group showed Abu Dhabi bucking the global downturn in the tourism industry. Year on year average room rates in Abu Dhabi increased more than 33% while room rates in Dubai decreased 25%. The survey revealed three, four, and five star hotels across the globe reduced their rates by…
Mubadala, Abu Dhabi’s government investment arm, signed a hotel management contract with Dallas based Rosewood Hotels and Resorts. The contract is for a new business hotel, the Rosewood Abu Dhabi Hotel, which is scheduled to open in 2012. The hotel is set in Sowwah, the core of Abu Dhabi’s new business district. News agency WAM said the Rosewood Abu Dhabi Hotel will be developed by Mubadala Real Estate and…
GCC investors are showing an increasing interest in European hotels in major cities like Paris and London. Capital France Hotel acquired four-star hotel Radisson Paris Boulogne Hotel from Compagnie La Lucette. This is the first Parisian transaction this year. It shows confidence in the European markets and indicates there are good opportunities in the hotel market. Capital France Hotel is a hospitality fund…
Nakheel Hotels announced it opened the 137 room One&Only Cape Town hotel on the world famous harbor the Victoria & Alfred Waterfront in Cape Town, South Africa. Kerzner International are owners and operators of the One&Only and Atlantis brands. Nakheel’s opening of One&Only Cape Town further strengthens their relationship with Kerzner and expands its brand of luxury hotels in Africa. Dubai World is Nakheel…
A senior executive with Hilton Hotels said they may expand in Abu Dhabi and are considering opportunities on Saadiyat Island. Vice President of development in the Middle East for Hilton Hotels Elliot Younes said Saudi Arabia and Abu Dhabi are the main focus for expansion and development this year. Mr. Younes said Hilton Hotel is at various stages of discussion on different locations and they will definitely…
CBRE Hotels recently signed an agreement to become the preferred provider of services for World Hotels according to a CBRE executive. CBRE Managing Director Derek Gammage said they respect hard brands but World Hotel’s positioning, global network, service range, and resources are rapidly making it a credible alternative. CBRE will provide World Hotels with real estate services including valuations, asset…
The Jumeirah Group has plans to manage 60 hotels by 2012 and expand into the India market. Executive Chairman Gerald Lawless told Reuters they are having a number of discussions within the subcontinent. Dubai based Jumeirah Group is owned by Dubai’s Ruler His Highness Sheikh Mohammed bin Rashid Al Maktoum. The hotelier is moving away from its home market and into the United Arab Emirates in order to rival…
Goldman Sachs resumed covering Emmar Properties, Union Properties, and Abu Dhabi National Hotels, giving them a neutral rating. Goldman Sachs said the weak economic activity, slow economic growth, and tight liquidity will cause the current softness in the UAE Real Estate sector to continue. Goldman also gave a ‘neutral’ rating to Sorough Real Estate while Arabtec Holding and Abu Dhabi based Aldar properties…
According to the new 2009 Hotel Pipeline Report by Lodging Econometrics Dubai is the tops in the region for the number of new planned hotels. New hotels in the pipeline in Dubai account for 34% of all the hotel projects in the region The Middle East has 503 projects planned representing 147,488 rooms. Dubai’s 136 planned new hotels accounts for 50,514 rooms. Abu Dhabi is second in the region with 73 projects…
