According to the latest report by hospitality consulting firm, HVS International, while US and European hospitality sector faces severe economic downturn, the Middle East is still going strong.
“We have found that the Middle East continues to be one of the most lucrative markets for hotel developers for the time being. It remains to be seen how much of a knock on effect the predicted downturns in Europe and the United States will have on this region, but at the moment, the future is still bright,” said Christian Anklin, Senior Associate at HVS Executive Search in London.
He also added that Dubai, the regional headquarters for most hotel management companies in the Middle East, still ranks strongly as a desirable port of call for hoteliers.
Source: Emirates Business 24/7
