Hotels

Dubai Hotel Profits Reach 35%

Dubai hotel profitability continues to lead the world 35% margins in 2009 according to researchers.  CBRE Hotels Vice President Armine Hamdi said their net margins are still excellent compared to other parts of the world.   CBRE is a hospitality consultancy and asset management firm.  Vice President Arnoud Andrieu said the average net profit in Europe now is between 18% and 20% for the five star segment. 

Mr. Andrieu said in Dubai,  “In 2008, the average margins for five star properties were 35% to 38%   This year they are likely to be between 32% and 37%.    Average occupancy rates in Dubai hotels have declined, although hotels in central business districts have occupancy rates at about 90%.  A survey carried out by Deloitte and STR Global showed occupancy levels in June dropped 12.9%.  Mr. Hamdi explained “Net profits have not taken such a big hit because when occupancy levels go down, other costs such as energy and amenities in rooms also go down.”

More Hotels
Emirates Palace Abu Dhabi to celebrate Mexican National Day with Mexican food fiesta
Looking for an adventure - go to Iraq for Eid
* Hotel Metropole Geneva
Latest Travel News
UAE carriers join hands to celebrate the...
New Istanbul airport starts operations...
Discover the making of a Royal Bisht - g...
Featured Sights To See
Shalimar Gardens

Shalimar Gardens

Lahore, Pakistan

These magnificent gardens were made by Mughal Emperor Shah Jehan in the 1640s. The gardens cover an area of over 80 acres. They are built at the three levels corresponding to the Giver of Pleasure, Giver of Goodness and the Giver of Life. Beautiful trees and shrubs are aplenty and white marble structures dot the gardens here and there. There are about 450 fountains. A great spot for picnicking, th...

Padrao dos Descobrimentos (The Discovery Monument)

Padrao dos Descobrimentos (The Discovery Monument)

Lisbon, Portugal

This amazing monument was officially inaugurated in 1960, marking 500 years after the death of Henry the Navigator’s death. Standing at 52m high and carved out of limestone, this statue pays tribute to all the famous people  within Portugal’s Age of Discovery: Henry stands at the prow followed by Vasco da Gama, Diogo Cao and over thirty over great explorers. The mosaic in front of the monument is ...

Lahore Fort

Lahore Fort

Lahore, Pakistan

This fort is a magnificent structure and was crucial to the military strength of the Mughals who used it as their military headquarters. The Sikhs too, who ruled Lahore briefly, used the fort as part of their defense strategy. Inside the fort is a small museum showcasing the Mughal rule of Lahore with artifacts dating back to the era. Another gallery is dedicated to the Sikh rule of Lahore. There ...

Children’s Science Museum-Planet Discovery

Children’s Science Museum-Planet Discovery

Beirut, Lebanon

Planet Discovery is a children’s science museum in Beirut Souks in the heart of Beirut. Children of all ages can discover the secrets of life and the surrounding world. The exhibits stimulate their curiosity and desire for learning. The museum holds interactive experiments, exhibitions, performances and workshops, and awareness competitions. It welcomes handicapped and visually impaired children t...