One aspect I have been focusing on lately is the operator search and contract negotiations. We prioritise this process to ensure that we get the best fit for each property and that we achieve the highest yield for our investors.
Earlier this year it was announced that the GCC states would introduce a value added tax (VAT) rate of 5% to be levied anytime between 2018 and 2019. The UAE Ministry of Finance has announced that it will be implemented as early as the 1st of January 2018.
The fourth quarter of every year is undoubtedly the busiest time of the year for all hotel stakeholders including operators, owners, and asset managers. The concerned parties will review, analyze and approve budgets for the following year.
In an industry first, hotel asset management specialist TFG Asset Management has revealed the financial impact of high staff turnover on Dubai's booming hotel industry.
In this white paper, TFG Asset Management in collaboration with the Emirates Academy of Hospitality Management analyse the hospitality labour market in Dubai and identifies the main challenges facing operators in retaining elite staff.
The case for developing more sustainable hotel industry practices is complex and subject to ongoing debate. Many hotel owners are still reluctant to embrace green initiatives, deterred by the associated increase in capital costs and what they deem an ambiguous return on investment.
The First Group Asset Management manages over 3,000 property units within Dubai and the UAE. It is led by a
diversified team that combines more than 75 years of experience within the hotel, residential, serviced offices,
retail
management and consultancy sectors.
