Global Hotel Industry to Reach $847.8 billion by 2015
Global Hotel Industry to Reach $847.8 billion by 2015 Property renovation and luxury repositioning increasing as global economy improves With the industry forecasted to have a value of $847.8 billion by 2015 according to recent industry reports by Hotels & Motels: Global Industry Almanac, emerging markets such as the Middle East are being highlighted as significant regions driving growth.
In addition to new properties currently under construction, increased focus in the region is on renovation of existing hotels to deliver enhanced luxury and eco-luxury hospitality offerings, a trend being witnessed by The Hotel Show, as luxury exhibitors confirm attendance at this year's event.
Running from 15th - 17th May 2012 at the Dubai International Convention & Exhibition Centre, the largest hospitality supplies event in the Middle East and North Africa attracts exhibitors from around the world looking to tap into the extensive regional opportunities.
"An absolute outcome of an improved market is renovation. Hotel chains are enhancing brand standards and dealing with the ramifications of deferred capital expenditure experienced over the past couple of years," said Frederique Maurell, Events Director for The Hotel Show. "One of the exciting elements to this renewed growth is the diversity we are seeing in the re-fits. The Hotel Show has witnessed a substantial increase in high-calibre luxury and environmentally
responsible suppliers emerging to cater to a new generation of luxury
Primary renovation projects being conducted by leading hoteliers around the region include renovation and refreshment of lobbies, restaurants, bars and fitness centres, and the upgrading of beds, electronics and soft furnishings in
guest rooms. Among the exhibitors at the show, seeking to capitalise on the
opportunities are Sambonet Paderno Industries SpA, Italian manufacturer of crafted flatware and hollowware in stainless steel & silver plate; interior design specialist Nakkash Gallery; avantgarde furniture design specialists Baa and eco-luxury furniture manufacturer Casa Shamuzzi.
Spain's top exporter of auxiliary furniture Andreu World will also be showcasing its prestigious contemporary avant-garde designer tables and chairs with recent refurbishment projects including Shangri-La Barr Al Jissah Resort & Spa and Radisson Blue Hotel.
New to the event this year, the Middle East Hotel Awards, will be held on 15th May and will focus on recognising the innovations, developments and achievements within the hotel & hospitality industry.
Categories for 2012 include: Best Lobby, Reception & Guest Lounges; Best Restaurant/F&B outlets; Best Convention, Conference and/ or Banquet Facility; Best Hotel Suite; Best Fitness & Leisure Facilities within a hotel; Sustainable Initiative; Best Technology Integration; and Best Outdoor Area.
Also new to the show this year is Hospitality Experience, recognising the growing demand for beyond-luxury and unique hospitality experiences; this sector will host companies specialising in grand society weddings, banqueting, private parties, concerts and luxury yachting experiences.
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