Dubai hotels cut rates as occupancy slumps | bi-me.com
Dubai hoteliers are waging a price war, with room rates cut by as much as half as they try to lure tourists hit by the global financial crisis. The recession in Europe, Dubai’s largest tourist source market, has caused a sharp drop in visitor levels, with occupancy rates down 25% on those enjoyed at the same time last year. “We are entering a price war as most hotels in Dubai are cutting their rates,” said Amine Moukarzel, Senior Vice President and Managing Director of the Dutch-Swiss Golden Tulip group in an interview for The National.
