Hotels

Hotel Rates Driven To Dangerous Levels

A hotel industry executive says hotel rates in Dubai have dropped to dangerous levels and will probably drop further.  Industry experts explain rates have come under severe pressure because of declining business travel and ongoing new supply entering the market.  Data from STR Global and Deloitte Travel and Hospitality showed that hotel occupancy levels in the Middle East fell 9.6% in April 2009 compared to the same month last year.  Revenue per available room (RevPar) fell 14.9%

Chief Executive Officer of Ishraq Gulf Real Estate (Holding) said year to date the situation is “not too bad” and the market is averaging 70% throughout Dubai, which is positive. However, Sami Al Ansari said “There is huge pressure on room rents, which is driving rates to very dangerous levels.” He said the bottom has not been reached because summer has just started.
 

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
Yas Island Abu Dhabi lit up in green for...
Turkish Airlines launches new cabin crew...
Emirates voted ‘Best Business Airline’ a...
Featured Sights To See
Alpine Park on the Road to Chimbulak

Alpine Park on the Road to Chimbulak

Almaty, Kazakhstan

 Address: along the same road as Medeu Ice Rink, Dam, and Chimbulak. Large, sprawling park, which contains quite a number of apple trees in addition to its towering alpine cones. Pleasant stop, especially if you catch a light drizzle. ...

Sultan’s Palace

Sultan’s Palace

Muscat, Oman

The Sultan’s Palace is one of the more prominent features in the city, specifically within the Old Muscat region. The blue and gold mushroom pillars are among the more distinctive features of the palace. There are several locations in the nearby area where you can get a good view of the palace, most notably the roundabout on the inland side. The palace is undergoing some rennovations to increase i...

Campo San Polo

Campo San Polo

Venice, Italy

Many years ago, at the Campo San Polo bull races took place, fairs and military parades were held but now only the city’s outdoor cinema is set up here on summer nights. The church located here called the Chiesa di San Polo was restored several times but little remains of the original 9th-century building, and the 19th-century alterations were so expensive that the friars had to sell off many grea...

Olympic Park

Olympic Park

Beijing, China

The 2008 Summer Olympics signified China’s return as a global economic power.  It’s hard to forget the spectacular opening ceremony.  Three years on, the Olympic Park is still there and open to the public.  The centerpiece of the park is the Beijing National Stadium, better known as the Bird’s Nest.  Its edifice is unmistakable.  Though no teams call the Bird’s Nest home, ...