Ishraq Postpones Holiday Inn Expansion Plans
Chief executive of , said plans to build 20 Holiday Inn Express budget hotels in the Gulf for as much as US$3 billion (Dh11.01bn) have been postponed because of the global economic downturn. Samil al Ansari made the announcement at the opening of its $40 million 381 room Holiday Inn Express at Dubai Airport on Sunday. Ansari said “How fast we can develop these hotels is really down to the market needs, requirements. We have slowed down in the last year simply because some of the projects we were about to embark on, when we revisited the feasibility, we found that returns were diminishing. We sort of held off.”
The next Holiday Inn Express is being built in Bahrain and is scheduled to open in the last quarter of 2011. Ansari said the days when Dubai attracted only the jet setters are gone, noting that Holiday Inn Express Hotels remained profitable despite a sharp drop in revenues in the hotel sector last year.
More Hotels News
New seaside resort in Qatar
Friday, 07 October 2016
Those of you planning a trip to Qatar may want to check out Qatar’s first leisure destination ...
Amaneesa restaurant reopens for the winter at the Ritz-Carlton, Dubai
Thursday, 06 October 2016
Amaseena, the outdoors restaurant at the Ritz-Carlton, Dubai, is reopening for the winter season ...
Family friendly Hotel Banana Island, Doha
Monday, 26 September 2016
Stay at the five star Banana Island Resort with your children. Only 10 minutes from Doha city ...
Immerse yourself in olives in Mallorca, Spain
Tuesday, 02 August 2016
If you are planning a trip to Mallorca visit the Sóller Valley which has a long history of ...
Ten spas to spoil yourself in
Sunday, 08 May 2016
Fancy a sand based exfoliation, or a rose steam bath, or a honey massage, or a zero gravity ...
Elaf Group's Makkah and Madinah hotels popular at ATM Dubai
Sunday, 01 May 2016
The Elaf Group of Saudi Arabia has revealed its successful participation at the recently ...
Start your Adventure
North & South America