With the acquisition of Land in Iran, with the
intention of opening a Five Star Hotel und the name of
Sadaf Hotel Assaloyeh
has really given an up thrust to the activities of the Hospitality
Division of Al Mutlaq Group, upon association with G.M. Kitchen, it
became necessary to find an International Hotel operation chain to
partner in this area which we now feel is completed with association of
Cenetara for resorts & hotel management.
Al Mutlaq is associated with G.M.K and is also engaged in doing the
turnkey jobs for the Hotel & Hospitality Industry thus providing
Furniture, Fixtures and Equipment (F.F&E) and Hotel Operating Equipment
Supplies (H.O.E.S)
Hotel Rooms in Dubai Predicted to Increase Along with Demand
Hotel Rooms in Dubai Predicted to Increase Along with Demand Dubai is expected to see an estimated 18,000 to 20,000 more hotel
rooms by 2010, an increase of almost 100 percent on the number of rooms
currently available, fuelling the risk of oversupply, according to a recent
report entitled, "The Dubai hotel market. Hot or soon to overheat?" prepared
by international consultants, HVS International in late 2005.
But although these figures look alarmingly large, there
is good reason to think that Dubai will be able to absorb such a large
increase in rooms.
The report states that given the historical growth in hotel demand, the
forecast public spending on tourism in the emirate, and the current and
future projects that are being developed in Dubai, "we expect demand to
experience an average annual growth of 7-10 percent over the next five to 10
years."
If growth were to continue at such levels "this could imply that demand
growth is likely to catch up with supply over the next few years," states
the report. Current occupancy levels which approach 90 percent could by 2010
stabilize at 70-75% which is comparable to what is seen in some of the
U.S.'s strongest markets like Orlando, Florida and Las Vegas, Nevada.
Moreover, because Dubai has a stronger economic base than most other hotel
market destinations in the Middle East, and the emirate benefits from
possibly the best tourism infrastructure in the region, "this might, in
turn, reduce the negative impact of the new supply," the consultants stated.
At the other end of the spectrum, significant opportunities are believed to
exist in the emirate for the development of branded limited service or
three- -star hotels. Other investment opportunities in Dubai are also
believed to lie in developing extended stay and timeshare properties, condo
hotels, fractional and other types of shared ownership properties.
A greater volume of international capital, notably from Asia and Europe, is
forecast to flow into Dubai's hotel industry.
Europe is the main feeder for the five-star hotel market in Dubai,
accounting for 47 percent of total demand.
The GCC and non-GCC Arab countries, account for another 27 percent.
Published plans also exist to attract the Turkish, Pakistani, Indian,
Chinese and Iranian markets over the next three to five years. The
government is also working on developing the cruise market to Dubai.
