Rotana Profit Down 25%
Vice executive chairman for Rotana Hotels in Dubai said their profits, occupancy, and rates fell 25% last year. Imad Elias said hotel prices became too high as a result of hoteliers arrogance, and they should now come down to a more competitive level. Rotana Hotels has 16 hotels in Dubai.
Hotels.com Hotel Price Index shows in the fourth quarter of last years Dubai hotel prices were the second most expensive in the world after Moscow. The average price of a hotel room in Dubai was AED 953 ($260).
Elias said they should talk with the tour operators, be more flexible, and tell them “we are ready to take you back with a rate that is competitive with other parts of the world.” He also called on other hoteliers in Dubai to be more transparent about their occupancy levels during the economic slowdown.
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