Emmar Hospitality Expects 15% Revenue Fall
A top executive at Emmar Hospitality said their 2009 revenue will probably drop by 15% because of the global economic slowdown. Emmar Hospitality is a wholly owned subsidiary of property developer Emmar Properties
Chief Executive Officer for Emmar Hospitality Group and Emmar Hotels and Resorts Marc Dardenne said the situation is not as bad as many people think, and that their leisure divisions are doing well. The Yacht Club, Polo Club and Gulf Clubs are all doing well. Dardenne said he believes that the last quarter of this year will be better than the last quarter of 2008 and “by 2010 business will really be back.”
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