The enormous challenge to Israel’s hotels
The year 2023 was promising. Hotel occupancy was up and an expectation to serve 3.9 million tourists this year was encouraging.
External Articles
Emaar Hospitality suspends bookings at three hotels in Dubai
Dubai: Emaar Hospitality said it will stop bookings at some of its hotels between March 15 and August 31 amidst a general slowdown in the travel industry due to the coronavirus spread.
Hotels post record occupancies for New Year's Eve, expect trend to continue into 2020
Hotel bookings made well in advance, and some made at the very last minute, all culminated in hotels across the UAE posting record occupancy rates for New Year's Eve - a momentum that many hospitality experts say will carry over into the new year as the UAE gets ready to host Expo 2020 Dubai.
Petra Sees More Visitors In November As Hotels Cite 70% Rise In Occupancy Rates
This year saw the "best" November in the history of Petra in terms of number of visitors, according to officials.
Video: Dubai hotels - will the boom lead to bust? - arabianbusiness.com
Dubai's hospitality sector has the largest pipeline of additional room supply in the world, with 64,000 rooms forecast to be added to the current stock of less than 100,000 rooms by 2020. Will that lead to a crash in prices or can the market absorb this supply?
Why the Gulf's hotel boom doesn't have to lead to bust - arabianbusiness.com
According to figures from hotel data company STR, Dubai currently has the largest hotel room pipeline of any city in the world, standing at over 50,000 rooms on an existing room count of less than 100,000. What's more, it is concentrated at the top end of the market, with around 14,000 upper-upscale rooms (a 60 percent increase), around 13,000 upscale rooms (a 56 percent increase), and over 8,000 upper-midscale rooms (a whopping 99 percent increase) planned.
Qatar hospitality sector feels impact of additional supply | gulf-times.com
Almost 5,000 hotel keys have been added to Qatar’s stock over the past 18 months and the additional supply has started to impact performance measures in the second quarter of 2016, a DTZ executive says. Occupancy levels fell 64% in April 2016 compared to 72% in the same month in 2015, while average daily rates also experienced a year-on-year (y-o-y) fall of 6.5% from QR551 in April 2015 to QR515 in April 2016, said DTZ associate director – Consulting and Research Johnny Archer. Speaking before stakeholders yesterday at the launching of DTZ’s “Q2 2016 Qatar Market Report,” Archer said revenue per available room fell by 17.8% from QR399 in April 2015 to QR328 in April 2016.
Saudi Arabia hospitality sector adapts to millennial needs | tradearabia.com
Millennial travellers are forecast to become the dominant consumer group globally by 2020, yet the future appears closer for Saudi Arabia, a new report has unveiled.
A report by Euromonitor International prepared for The Hotel Show Saudi Arabia reveals that in 2016, 10.3 million people or 32 per cent of the kingdom’s population are classed as millennials or young adults (aged 18–36). Meanwhile, 27 million domestic trips are forecast to be made by Saudi travellers this year.
Oil crisis enables hospitality revolution | ehotelier.com
The Kingdom of Saudi Arabia is on the brink of a revolution. This revolution will be neither political nor ideological. Instead, it will come in the form of keys — hundreds of them, representing millions of dollars’ worth of investment. In the wake of plummeting oil prices resulting from the uneasy mixture of oversupply and tightening Chinese demand, one could be forgiven for believing that the Kingdom’s economy is approaching a state of crisis. However, the Organization of the Petroleum Exporting Countries (OPEC) giant has long been prepared to ride out this period of financial turbulence. Long before the oil prices began to dip, the government was prepared to deal with the budget gap created by diminished oil revenue.
Dubai hotel occupancy hits 71pc in 2010 | tradearabia.com
Dubai’s hotels witnessed an increase in occupancy of 3.3 per cent in December as compared to the same month in 2009 to reach 71 per cent during 2010, said a report. However, the city’s hotels witnessed a decline of 4.2 per cent in revenue per available room (RevPAR) to reach $154 during YTD December 2010, said an analysis of selected STR Global hotel performances by Deloitte, a leading professional services firm.
Signs of resurgence in UAE hospitality sector | khaleejtimes.com
The new year will see stronger signs of recovery by the hospitality sector given the upward trends seen in the last quarter of 2010. UAE’s hospitality and tourism sector has been showing signs of resurgence with higher occupancy rates driven by a surge in tourist arrivals towards the fag end of 2010. However, with thousands of new rooms being added to the markets in Dubai and Abu Dhabi, there has been a slight drop in the overall revenue per available room, or RevPAR, last year.
Armani Hotel Dubai room rates down by 40% | arabianbusiness.com
Room prices at Dubai’s Armani Hotel, which occupies the first six floors of the Burj Khalifa, are trading at 40 percent down from the published rates at launch, Arabian Business can reveal. Seven months after its opening, a standard room at the 160-room Armani hotel will now set back guests AED2,400 ($653) compared to a rate card price of AED4,000 at the end of April. The cost of a two bedroom suite, originally priced at AED40,000, can now be snapped up for AED24,000, according to the hotel’s reservations desk.