Managers: Revenues exceeded pre-pandemic levels

23% growth in revenue from hotel rooms in Dubai within 7 months

• The average return on a room in the hotel market in the emirate reached 386 dirhams.

  archival

picture

Data issued by the Department of Economy and Tourism in Dubai showed that the average return per room in the hotel market in the emirate amounted to 386 dirhams during the seven months of 2022, compared to 313 dirhams in the same period in 2019, with a growth rate of 23%.

Managers and workers in the tourism sector said that the hotel market in Dubai recorded significant growth rates in average returns during the past two years and the current, to exceed in recent months pre-pandemic levels, and in large proportions, noting that this indicator plays a prominent role in the attractiveness of tourism investment in the emirate. and its ability to attract more foreign investment.

They told "Emirates Today" that the continuous and significant rise in the number of hotels that enter the market constantly, along with many hotel projects that are still under construction, indicates the attractiveness of this market for capitals around the world, noting that the emirate continues to open More attractions and entertainment facilities, as part of its quest to constantly diversify its components.

hotel market

In detail, data issued by the Department of Economy and Tourism in Dubai showed that the average return on a room in the hotel market in the emirate amounted to 386 dirhams during the first seven months of this year, compared to 313 dirhams in the same period in 2019, with a growth rate of more than 23 %, a rate that exceeds the levels recorded before the Corona pandemic.

According to the data obtained by "Emirates Today", the hotel market in Dubai has continued to record strong performance rates in various indicators (occupancy, return, daily price, as well as the size of the hotel market) since the beginning of 2022, noting that the average return during the period Extending between January and July of this year, it recorded a growth of 72% compared to the same period last year, when the average room revenue at that time was 225 dirhams.

The regional director of Hyatt Hotels Group in Dubai and general manager of the Grand Hyatt Hotel, Fathi Khojali, said, "The hotel market in Dubai has recorded significant growth rates in average returns during the past two years and the current, to exceed in recent months pre-pandemic levels, with rates of significant”, indicating that this indicator plays a prominent role in the attractiveness of tourism investment in the emirate, and its ability to attract more foreign investments.

Khojaly stated that "the group's hotels recorded a growth in revenues by 20-30% during the first half of this year," noting that "the great demand for Dubai, and the high rates of international tourist flows to the emirate, contributed to raising the demand for hotel rooms, which This was reflected in the rise in prices, and therefore the average returns,” noting that the “Expo 2020 Dubai” exhibition, in addition to the effectiveness of the strategy adopted by the emirate to deal with the “Covid-19” pandemic, contributed to the increase in the number of international visitors.

He explained that in addition to the increase in the flow rates of leisure tourism, Dubai has witnessed a significant growth in business tourism, which has begun to move towards a full recovery, pointing out that more hotel establishments operating in the emirate have resorted during the recent period to increasing meeting rooms designated for conferences and business, noting that the financial center The importance of the emirate in the region and the world made it an attractive location for business tourism.

global destination

In turn, the CEO of Palazzo Versace Dubai Hotel and founder of Palazzo Hospitality, Munther Darwish, said, "Dubai is a major global tourist destination, and it has important attractions that annually attract millions of visitors around the world," noting that the increased demand for tourism In the emirate, it contributed to raising hotel occupancy rates and prices, and thus returns, which recorded remarkable growth rates, pointing out that these indicators play an important role in attracting more foreign investments, and from the local market as well.

Darwish stated, "The tourism sector in Dubai, during the first months of 2022, recorded a strong activity, which made the hotel performance indicators almost equal to the pre-pandemic rates, for the same period in 2019, to be ranked first in the world in hotel occupancy rates during the first quarter of 2019. 2022”, noting that the emirate continues to open more attractions and entertainment facilities, as part of its efforts to constantly diversify its components.

And he indicated that the continuous and significant rise in the number of hotels that enter the market constantly, along with many hotel projects that are still under construction, indicates the attractiveness of this market to capital around the world, pointing out that Dubai recorded strong performance rates in various indicators (occupancy, return daily rate, as well as hotel market size) since the beginning of 2022, to exceed pre-pandemic levels.

big demand

For his part, the general manager of Tamani Marina Hotel, Walid Al-Awa, said that "the great demand for tourism in Dubai during the recent period has increased various performance indicators, including average returns and prices," noting that "the hotel recorded a growth of 20 percent. % in the average return on hotel rooms during the first quarter of this year, compared to the same period in 2019, i.e. before (Covid-19).

Al-Awa said that Dubai's strong growth indicators, and continues to be recorded, make it a global destination for tourism investments, pointing out that the tourism and travel sector contributes significantly to the emirate's economy.

The hotel market..continuous growth

The number of hotel rooms in Dubai reached 141,000 hotel rooms at the end of last July, among 774 hotel establishments, compared to 129.3 thousand hotel rooms, among 718 establishments at the end of July 2021.

The average hotel occupancy was 72%, compared to 61% in the same period in 2021.

The five-star luxury hotel rooms accounted for 34% of the hotel market, registering 48.1 thousand hotel rooms within 147 hotel establishments, followed by the “four-star” hotel rooms by 29%, registering 40.9 thousand hotel rooms within 183 facilities.

Hotels classified between "three stars" and "star" accounted for 19% of the total market with a capacity of 26.1 thousand hotel rooms within 253 facilities.

The number of hotel apartments exceeded 25.6 thousand apartments within 191 facilities, acquiring 18% of the market.

Dubai is the first in the world

Dubai ranked first in the world in attracting foreign direct investment and projects in the field of tourism, and the tourism sector in the emirate accounted for about 6.4 billion dirhams ($ 1.7 billion) of foreign direct investment, with 30 foreign direct investment projects, during 2021, according to Data of the Dubai Monitor for Foreign Direct Investment, published by the Dubai Investment Development Corporation, one of the institutions of the Department of Economy and Tourism in Dubai.

The year 2021 culminated in a successful march, which spanned over five consecutive years since 2017, during which Dubai maintained its progress over global cities, such as London, Paris and Shanghai, in terms of attracting foreign direct investment to the tourism sector, with a total of 83.5 billion dirhams ($22.8 billion). Over 205 projects over the five years.

Follow our latest local and sports news and the latest political and economic developments via Google news