Dubai leads way in regional tourism
Dubai has maintained its position as the GCC’s hottest tourism destination and is likely to strengthen its lead over regional competition, according to a speaker at the Arabian Hotel Investment Conference in Dubai.
Stewart Coggans, Executive Vice President Middle East & Africa for Jones Lang LaSalle Hotels, said Dubai’s 2011 performance of double-digit growth in revenue per available room (revPAR) was testament to its strengths.
“Any market with double digit revPAR growth in 2011, with the new supply gains that Dubai has seen, is clearly a force to be reckoned with, and my personal view is that there will be another year of double digit revPAR growth in Dubai in 2012,” he was quoted as saying in Middle East media.
“So while most people say the supply pipeline of 12,000 rooms over the next few years is too much, I would argue that Dubai is well equipped to absorb that level of growth.”
Conference speakers generally concluded that the Middle East hotel market has stabilised after the stress of the Arab Spring sweeping the region since early 2011. However, they said that markets such as Bahrain, Syria and Tunisia would continue to suffer.
One chain delighted by its 2011 fortunes was Marriott International, which added 3,500 rooms across the Middle East.
Marriott President and Managing Director for Middle East & Africa, Alex Kyriakidis, said the group has plans to double staff numbers in the region to about 24,000 by 2017.
“We have 38 existing properties in 11 countries across seven lodging brands and a further 43 hotels under development which will more than double the number of hotels in the Middle East and Africa over the next five years,” Kyriakidis was quoted as saying.
“And we have a high degree of confidence about the pipeline converting to completed projects over the next three to five years.”
Jones Lang LaSalle Hotels also reported during the conference that the number of hotel assets changing hands in the region is expected to remain largely flat. It said the transaction volume of hotels in Europe, Middle East and Africa is expected to reach $11bn in 2012, slightly higher the 2011 level.
Dubai has maintained its position as the GCC’s hottest tourism destination and is likely to strengthen its lead over regional competition, according to a speaker at the Arabian Hotel Investment Conference in Dubai. Stewart Coggans, Executive Vice President Middle East & Africa for Jones Lang LaSalle Hotels, said Dubai’s 2011 performance of double-digit growth in revenue per available room (revPAR) was testament to its strengths. “Any market with double digit revPAR growth in 2011, with the new supply gains that Dubai has seen, is clearly a force to be reckoned with, and my personal view is that there will be...
Dubai has maintained its position as the GCC’s hottest tourism destination and is likely to strengthen its lead over regional competition, according to a speaker at the Arabian Hotel Investment Conference in Dubai.
Stewart Coggans, Executive Vice President Middle East & Africa for Jones Lang LaSalle Hotels, said Dubai’s 2011 performance of double-digit growth in revenue per available room (revPAR) was testament to its strengths.
“Any market with double digit revPAR growth in 2011, with the new supply gains that Dubai has seen, is clearly a force to be reckoned with, and my personal view is that there will be another year of double digit revPAR growth in Dubai in 2012,” he was quoted as saying in Middle East media.
“So while most people say the supply pipeline of 12,000 rooms over the next few years is too much, I would argue that Dubai is well equipped to absorb that level of growth.”
Conference speakers generally concluded that the Middle East hotel market has stabilised after the stress of the Arab Spring sweeping the region since early 2011. However, they said that markets such as Bahrain, Syria and Tunisia would continue to suffer.
One chain delighted by its 2011 fortunes was Marriott International, which added 3,500 rooms across the Middle East.
Marriott President and Managing Director for Middle East & Africa, Alex Kyriakidis, said the group has plans to double staff numbers in the region to about 24,000 by 2017.
“We have 38 existing properties in 11 countries across seven lodging brands and a further 43 hotels under development which will more than double the number of hotels in the Middle East and Africa over the next five years,” Kyriakidis was quoted as saying.
“And we have a high degree of confidence about the pipeline converting to completed projects over the next three to five years.”
Jones Lang LaSalle Hotels also reported during the conference that the number of hotel assets changing hands in the region is expected to remain largely flat. It said the transaction volume of hotels in Europe, Middle East and Africa is expected to reach $11bn in 2012, slightly higher the 2011 level.
