‘Pressure on GCC hotels after recession’
May 19 - The global financial meltdown has adversely affected the hotel rates in GCC states, said the organisers of The Hotel Show in Dubai that kicked off yesterday. "There are between 16,000 and 20,000 hotel rooms to enter the Dubai market by the end of the year, which will contribute to producing lower room rates and attracting more visitors to Dubai," said Department of Tourism and Commerce Marketing (DTCM) Director General Khalid Bin Sulayem.
Meanwhile, a Proleads study unveiled at the show depicted that there are more than 470 active hotel projects in GCC countries at the moment. These are projects that remain incomplete for various reasons. "Originally when these projects were conceived, the regional hospitality industry was booming," said The Hotel Show Sales Director Ray Tinston.
Tinston, who also quoted a recent Deloitte analysis of STR Global hotel data, said that revealed that the revenue per available room (RevPar) rates in the Middle East was estimated at $131.42 in the 12-month period ending last February. These figures, he added, are still higher than what is seen around the world. "If the region is to complete globally, RevPar rates need to be competitive," he added.
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