The Hotel Show - GCC to spend $1.17 billion on hotel projects this year
16.05.2010: Regional hospitality industry continues to spend heavily on hotels during 2010 despite turbulent global economy, say organisers of The Hotel Show
According to a new study, cash expenditure in the GCC hospitality industry is set to reach more than $1.
Regional hospitality industry continues to spend heavily on hotels during 2010 despite turbulent global economy, say organisers of The Hotel Show
According to a new study, cash expenditure in the GCC hospitality industry is set to reach more than $1.17 billion this year, according to the organisers of The Hotel Show. This is despite a tumultuous global economy with major developed economies recording budget deficits and colossal sovereign debt.
The report was produced by the renowned Dubai-based research company Proleads for The Hotel Show, which is the Middle East's leading dedicated trade event for the hospitality and leisure sector and next takes place at the Dubai World Trade Centre from 18-20 May 2010.
The Proleads figures show estimated cash expenditure this year on hotel projects under construction across the GCC will top $1.17 billion. Unsurprisingly the bulk of that spending power is in the United Arab Emirates at $463.8 million however, what is surprising is that Oman will eclipse Saudi Arabia this year spending $269.2 million as opposed to the Kingdom’s $245.5 million, although that will not prevail beyond 2010. Qatar then leads the rest of the GCC with an estimated spend of $100.3 million, followed by Bahrain with $65.3 million and finally Kuwait with $31.7 million.
“These figures really show that there is no shortage of ambition or liquidity,” said Ray Tinston, Sales Director, The Hotel Show. “At a time when the US and countries in Europe are preparing stringent austerity measures, to reduce their budget deficits and repay billions in loans, the Middle East region is powering ahead.”
Earlier this year Proleads reported that active hotel projects under construction but due for completion by 2013 throughout the GCC stood at $7 billion. In their latest report that figure has grown to $7.8 billion, an increase of $800 million, mainly due to new project announcements in Qatar and Saudi Arabia.
Overall, most are in the United Arab Emirates ($4.34 billion) followed by Saudi Arabia ($1.74 billion), Qatar ($923 million), Bahrain ($463 million), Oman ($300 million) and Kuwait ($90 million).
“The fact that there has been an 11.4% increase in the value of projects, once again highlights that the development of the regional hospitality sector continues unabated, it is quite clearly sustainable,” said Tinston.
Naturally there are still concerns about hotel oversupply and the effect that will have on occupancy levels and average room rates. Indeed last month, a Deloitte analysis of STR Global hotel data revealed that revenue per available room (RevPar) rates in the Middle East was estimated at $131.42 during the period year-to-date February 2010, compared to $151.51 during the corresponding period in 2009.
“However compared to the rest of the world those figures stack up well. Europe recorded an estimated rate of $72.05 with $79.65 in Asia Pacific, during the same period. An important factor going forward will be what happens in the global and regional economies to encourage people to travel and impact hotel occupancies,” said Tinston.
Now in its eleventh year, The Hotel Show is the Middle East’s most important event on the hospitality calendar hosting the latest products, services and technologies for the hotel, catering and leisure industries. In 2009, the show attracted 8,474 key industry decision makers from 77 countries.
The Hotel Show is divided into four zones: Interiors & Design; Operating Equipment & Supplies; Security & Technology; and The Resort Experience, covering all things outdoor including furniture, accessories and design and includes Hotel Spa, an important sector with more than 60% of all spa activity in the Middle East taking place in hotels. Alongside the show, are high level seminar programmes - The Seven Star Conference, now in its fifth year, and the Middle East Spa Summit.
The Hotel Show is organised by dmg world media Dubai Ltd, a leader in the region’s exhibitions industry since 1999. dmg’s portfolio includes some of the largest and most important exhibitions in the Middle East. The Big 5 show, Index exhibition, ADIPEC the office exhibition and The Hotel Show are all recognised internationally as the most important events in their sectors. dmg world media Dubai Ltd is a division of dmg world media, an international exhibition and publishing company, which produces over 150 market-leading conferences and exhibitions and publishes 25 related magazines, newspapers, directories and market reports.
dmg world media employs more than 750 people and maintains a worldwide presence through more than 30 offices in the United States, Canada, the United Kingdom, France, the United Arab Emirates, China, Singapore, India, Australia and New Zealand. dmg world media is a wholly-owned subsidiary of the Daily Mail and General Trust plc (DMGT), one of the largest and most successful media companies in the United Kingdom. Additional information on dmg world media can be found at www.dmgworldmedia.com
Nathalie Visele, Shamal Marketing Communications Dubai also photo
Awards ceremony to recognise excellence in treatments and amenitiesPicture caption: SensAsia Urban Spa nominated in the Spa Marketing categoryWith an increasing number of tourists and residents looking to relax, unwind weiter >>
€400 billion plan sees chain of Arabian Gulf solar plants linked in supergrid with Europe, say organisers of region’s biggest international industry trade showA map of Desertec’s plan shows a chain of solar power plants thro weiter >>
China HomLife expo creates new Silk Road to Middle East market
Her Excellency Sheikha Lubna bint Khalid Al Qasimi, UAE Minister of Foreign Trade at the China Homlife Show’s official opening ceremony at Airport Expo Duba weiter >>
From UAE to US, ECCO International provides first insight into social media in 24 countries, highlighting major differences, similarities in trendsECCO International, the global network of independent PR agencies, has compiled an extensive overview of the social media market and trends in 24 countries, including the major European economies, the USA, as well as Indi weiter >>
Sindbad frequent flyers to benefit from more air miles and car rental discounts
Michel Taride President, Hertz International and Executive Vice President Hertz Corporation and Abdulrazaq Alraisi, Genera weiter >>
BSi awards presented by British Consul General His Excellency Guy Warrington Caption: From left, Dr Ahmed El Tigani Abdel Rahim, General Manager of Al Rawabi, Rashid Ahmed Bin Rasheed, Chairman of Al Rawabi and weiter >>
CEO of new management company First & Foremost wants contracts between owners and operators to better reflect the changing tourism landscapeMore flexible contracts that allow owners to break deals with non-performing operators are vital to keep the hospitality industry thriving, according to a leading figure in the UAE’s hospitality sector. weiter >>
First operational ownership scheme in UAE offers investors in Oceana Suites on Palm Jumeirah 8 per cent return on investment annually
Photo caption: Inside an Oceana apartment.First and Foremost, th weiter >>
First & Foremost launches into Middle East with focus on family entertainment and sustainable development – brand offers real inbound tourism growth The region’s first family resort concept is being launched in Dubai in collaboration with one of Europe’s most successful family hotel concepts.New hotel management company First & weiter >>
Dubai-based owners of five-star London hotel, launches ladies only Duchess Rooms targeting female business and leisure guests from regionDukes Hotel, a five-star property with a country house feel in the heart of London’s St James’ weiter >>
Utility companies face demand and consumption doubling, even tripling in 20 years, say organisers of region’s biggest international industry trade showThe coming two decades are expected to see the weiter >>
World’s largest general use car rental brand to reinforce its presence in MEA region, ready for market revivalGina Costa, the newly appointed Commercial Director for Hertz Middle East and Africa. weiter >>
Mounting driver interest in the popularity of the Audi brand has boosted new car sales for Audi Abu Dhabi – one of the dealerships in the motor division of Ali & Sons Co. LLC – during the first quarter of 2010 by more than 30 % compared to the same period last year.
Apartments and high-end villa rents fall by 11% - Al Muntazah of Bin Mahmoud and Westbay Lagoon remain stable – mid term outlook positive Rental levels in Qatar’s residential leasing market continued to decrease overall in the first quarter of 2010, according to the latest report from leading regional and international real estate servi weiter >>
Abu Dhabi becomes regional focus for building contractors and suppliers – product sustainability and quality key to meeting developers’ demands
The inaugural CityBuild Abu Dhabi trade exhibition for the building and construction industry w weiter >>
Despite gloomy forecasts, 2010's biggest regional real estate investment show gets on with businessHH General Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme weiter >>
• Some sectors see rents and values stabilising• New mortgage terms expected to aid flat sales The Jordanian real estate market continues to decline at a minimal rate with some sectors of the market showing weiter >>
Residential rental property and retail sectors identified as having greatest investment potential during executive debate at Cityscape Abu Dhabi conference
Pictured from the left are: Gurjit Singh, Chief Operating Officer of Sorouh Real Estate; weiter >>
Pioneering woman 'opening doors' in construction
“I hope to be opening the doors for more women to follow,” said Fatima Obaid Al Jaber, Chief Operating Officer of Al Jaber Group.A pioneering senior execu weiter >>
Jeddah diners are invited to enjoy the best Chinese food in town with breathtaking views on the Red Sea for a fraction of the priceJeddah diners are invited to enjoy the warm yet classy atmosphere of Noodles, Rosewood Corniche Chinese restau weiter >>
Investor ‘flight to growth’ seen by Asteco/Savills in first quarter 2010 report on London property market; prospect of ‘double dip’ in capital values unlikely
Upward rental growth is expected to return to the central London office market in 2010 but it will be patchy and weiter >>
• Residential rentals continue to slide by 4 - 7% • Sharjah office leasing market slows marginally Tenants in the Northern Emirates are continuing to move from one emirate to another in search of better accommodation and to be closer to their workplace, according to a report by Asteco, the largest prope weiter >>
Technology provides sustainable foundations for building industryPicture caption: A contractor in the Innovation Zone at CityBuild demonstrates how innovation has improved the sustainability of new building products. weiter >>
World's tallest building and Downtown Dubai take top honours at Cityscape Awards for Real Estate in the Middle East and North Africa
Photo caption: winners of the Cityscape Awards for real estate in the Middle East weiter >>
New initiative recognises growing potential of female Gulf investors – women estimated to hold $40 billion of region’s wealth Showing respect to Arabic cultural tradition and Islamic values and by special request, Cityscape Abu Dhabi has announced that the exhibition will be open to ladies’ only from 3 until 8pm on Wednesday 21 Ap weiter >>
Latest Proleads study released at CityBuild Abu Dhabi analyses current status of UAE civil construction market
A total of 1,296 projects valued at more than $418 billion are currently being built in the United Arab Emirates, with an additional weiter >>
Major announcements on UAE capital projects expected at largest gathering of Middle East real estate professionals Picture: A scene from last year’s Cityscape Abu Dhabi.A business-like approach to rea weiter >>
Shimmer and sparkle this season with exclusive offers on premium brands
Areej, the skincare, makeup, and fragrance retail chain, is hosting its annual exclusive Beauty Extravaganza. This unique event will be held across all Areej stores, located in Ri weiter >>
Abu Dhabi now regional focus for building contractors and suppliers as well as real estate investors and developersA new international trade show for the construction industry premiers in Abu Dhabi on Sunday 18 April 2010, as the capital of the United Arab Emirates becomes the Middle East focus for the construction industry as well as real estate investors and weiter >>
New freehold supply and Dubai availability adds downward pressure to apartment rents - Asteco report provides timely backdrop to Cityscape expo Apartment rents in Abu Dhabi have fallen by at least 5% during the first three months of 2010 and are expected to soften further as more new properties come onto the Abu Dhabi market according to Astec weiter >>
The Bride Show Dubai has been officially opened, offering a one stop shop for brides-to-be and women who love fashion, beauty and jewellery. At the Dubai International Exhibition Centre until 10:30pm on Saturday 10 April. weiter >>
Benefits or otherwise for Middle East hotels and resorts of social networking sites to be debated at The Seven Star ConferenceInternet marketing, website online booking software and now social media networkin weiter >>
Public-private partnerships to lead the way in multi-billion dollar infrastructure projects, say organisers of CityBuild Abu DhabiThe financing of major multi-billion dollar infrastructure projects such as roads, weiter >>
Wednesday 7 April5:30pm La Sirene: Bridal Make Up6:30pm Wigomania: Hair Demo7:30pm MAC Cosmetics: Bridal Make Up8:30pm Jamil Style Salon, sponsored by l’Oréal: Bridal HairThursday 8 April5:30pm Beautyway Salon: Hair De weiter >>
MAC Cosmetics and l’Oréal Professionnel offer brides-to-be beauty tips for their big day
The Bridal Lounge, a new feature at The Bride Show Dubai, will offer visitors an interactive area to get hair and make up advice from some weiter >>
Contributions to architecture, culture, environmental awareness and regional relevance key criteria for Cityscape Middle East Real Estate Awards The search is on for unique projects that exemplify the remarkable real estate development made by both the private and public sectors throughout the Middle East and North Africa (MENA) region. The Citysca weiter >>
Brides-to-be seek marriage guidance to avoid divorceA marriage guidance counsellor from the Islamic Affairs Department and experts from www.yebab.com will take part in The Bride Show Dubai for the first time to offer advice to brides to be in weiter >>
Rosewood Corniche celebrates the art of romance and offers newlyweds a fairytale start for a happily ever after
Rosewood Corniche offers first-class honeymoon packages to couples looking to celebrate their marriage in the most romantic setting weiter >>
THE ART OF BUSINESS AT THE HEART OF HOSPITALITY
A Businessmen Gathering event was successfully launched earlier this year and has been established as a quarterly event at Rosewood Corniche, Saudi Arabia’s leading hotel.A n weiter >>