Citymax to meet rising budget hotel demand

Citymax Sharjah

The demand for budget and mid-segment accommodation in the United Arab Emirates is expected to increase over the next few years and Citymax Hotels is ready to help fill the void.

The hospitality division of the Landmark Group is planning to expand its presence in the GCC and Asia over the next five years with 10 new hotels, focusing on the UAE according, to media reports. The company has two hotels in Dubai and one in Sharjah.

“We plan to open a few more mid-market hotels in the UAE by 2013 to add to our existing portfolio,” said Citymax Hotels COO Russel Sharpe.

“Our estimate is that in the UAE market, there will be a need for over 3,000 additional mid-segment priced rooms in the next three years.”

Mid-segment priced rooms are priced at about US$45 to $70 a night and Sharpe added that he expected the economy hotel industry to experience up to 20 per cent growth from 2012 to 2013.

The growth is fuelled by the strong increase in budget air routes to Dubai from other parts of the world. Citymax’s UAE hotels have an average occupancy rate of about 85 per cent during the year and the company forecasts revenue per available room (RevPAR) to rise eight to 10 per cent in the coming years.



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[caption id="attachment_3246" align="alignleft" width="225" caption="Citymax Sharjah"][/caption] The demand for budget and mid-segment accommodation in the United Arab Emirates is expected to increase over the next few years and Citymax Hotels is ready to help fill the void. The hospitality division of the Landmark Group is planning to expand its presence in the GCC and Asia over the next five years with 10 new hotels, focusing on the UAE according, to media reports. The company has two hotels in Dubai and one in Sharjah. “We plan to open a few more mid-market hotels in the UAE by 2013 to add to...

Citymax Sharjah

The demand for budget and mid-segment accommodation in the United Arab Emirates is expected to increase over the next few years and Citymax Hotels is ready to help fill the void.

The hospitality division of the Landmark Group is planning to expand its presence in the GCC and Asia over the next five years with 10 new hotels, focusing on the UAE according, to media reports. The company has two hotels in Dubai and one in Sharjah.

“We plan to open a few more mid-market hotels in the UAE by 2013 to add to our existing portfolio,” said Citymax Hotels COO Russel Sharpe.

“Our estimate is that in the UAE market, there will be a need for over 3,000 additional mid-segment priced rooms in the next three years.”

Mid-segment priced rooms are priced at about US$45 to $70 a night and Sharpe added that he expected the economy hotel industry to experience up to 20 per cent growth from 2012 to 2013.

The growth is fuelled by the strong increase in budget air routes to Dubai from other parts of the world. Citymax’s UAE hotels have an average occupancy rate of about 85 per cent during the year and the company forecasts revenue per available room (RevPAR) to rise eight to 10 per cent in the coming years.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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