Hotels

Hoteliers in Dubai get ready to deal with euro crisis

May 11 - Hotel groups in Dubai are afraid that the recent euro crisis could have an adverse effect on occupancy levels as euro-zone tourists are hesitant to travel at this point. The euro fell to a 14-month low against the US dollar last week as the fallout from the Greek financial crisis extended throughout the largest source market for tourists visiting the Emirates. Making it expensive to use euros to buy dirhams now.

"Hotels in Dubai are counting on business from Europe this summer due to an early Ramadan this year," said Arshad Hussain, Director of business development at The Monarch Dubai. "With a weak euro on the horizon, Dubai might lose business to Europe as clients will find deals more attractive in the euro zone," he said. "Destinations such as Paris, Vienna and Rome will win business away from Dubai. Hotel rates in Dubai are already at all-time low, and the falling euro rate will not help Dubai hotels,” added Hussain.

The recession that hit the world last year has badly affected Greece since it has accrued a debt of over Dh1.1 trillion. Experts have expressed their concern about Greece’s inability to pay off its debts, the effect of which will be felt throughout Europe.

Hussain said the need of the hour is to find new markets such as China so that currency swings do not affect the hospitality industry.  Meanwhile, occupancy levels in Dubai hotels have improved greatly this year, with more competitive prices attracting more tourists.

More Hotels
Jumeirah Beach Hotel, Dubai, will be closed for renovation in summer 2018
Hilton’s ‘bleisure’ travel option – a new way to work and play
Family friendly hotels most popular for long weekends
Latest Travel News
Jumeirah Beach Hotel, Dubai, will be clo...
Etihad Airways National Day takeover of ...
World’s longest urban zipline launches i...
Featured Sights To See
Cotroceni Palace Museum

Cotroceni Palace Museum

Bucharest, Romania

The Romanian Presidents’ residence is worth a visit because of the sheer beauty of the area in which it is located. Surrounded by acres of green land, the palace stands tall as home to presidents since 1991. The museum inside the palace is open for public in daylight hours and has a collection of items that belonged to previous presidents and literature on politics. Address: Bd.Geniului, nr....

Tower Bridge

Tower Bridge

London, United Kingdom

For centuries, the only crossing of the Thames was the London Bridge.  By the nineteenth century, several other crossings had been built, but they were all in the wealthier west London neighborhoods.  The densely packed East End had no bridges, and a simple journey across the river could take hours.  By 1876 the problem could no longer be ignored.  A committee was formed and th...

What to do with Children in Makkah

What to do with Children in Makkah

Makkah, Saudi Arabia

It’s strenuous enough to be in Makkah on your own, to have to manage kids on such a trip is a herculean task. There is not much in the way of parks, or play grounds in this city. However there is plenty of road way for your kids to run around in and play areas can be found in the larger shopping malls. But why waste this opportunity on play zones? With the amount of history in this city, why...

Bastions Park

Bastions Park

Geneva, Switzerland

This was formerly a botanical garden, and a site for the first university in Geneva. The tree lined walkways and broad avenues inside the park make it popular for romantic evening walks. The park is buzzing with people almost all day. In one corner of the park is a set of life size chess boards, where aspiring chess players of all ages test their skills. The Reformation Wall on the east side along...