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Middle East investment creating opportunities for Dubai hoteliers | 16 May 2014

Future growth in Dubai’s hotel market will be driven by upcoming events in the area and the preceding wave of fresh infrastructure investment, PricewaterhouseCoopers (PwC) has claimed.

In a report released earlier this week, the property firm said that hotel managers in Dubai have seen the average revenue per available room (RevPAR) increase by 6.5 per cent this year. The only city to perform better was Muscat in Oman (6.6 per cent).

According to the company’s forecasts, growth in both of these cities will continue at the same rate throughout the rest of the year and into 2015.

Viren Lodhia, PwC’s hospitality and leisure partner in the Middle East, spoke of the reasons for the positive outlook. He was quoted by cpifinancial.net as saying: “Travel to the Middle East is expected to grow strongly over the next 10 years, with the region’s strategic location and investment in airports and infrastructure, establishing it as an important Global Hub.

“Combining this with future Mega Events being held in the region and an emergence as a magnet for both MICE (meetings, incentives, conventions and exhibitions) and shopping travellers, provides for a wealth of opportunities for both hotel operators and owners.”

The report also highlighted growth in a number of other major cities in the region, including Jeddah, Doha and Riyadh, gulfnews.com reports.

The views expressed in this post are those of the author and are not necessarily those of Qube Global Software. All facts are verified where possible directly by the author.

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