Movenpick: Dubai Will Face Hotel Room Oversupply In 2010
A senior hotel figure projects that Dubai will have an oversupply of hotel rooms in 2010, with 18 properties representing 7,000 additional rooms set to open. Guy Epsom, a business development director for four of Movenpick Hotels & Resorts upcoming properties in Dubai, said hoteliers will still be suffering the effects of the 2009 market conditions in 2010.
Mr. Epsom explained that in 2009 there was a correction because of the economic downturn that forced people to change their rate strategy but “the situation is that you haven’t had the bounce back in the market although confidence is coming back worldwide.” He said he continues to be confident the market in Dubai will manage the over supply of rooms in 2010.
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