Emaar Hospitality is setting its sights on global markets using the strength of its Dubai base.
Dubai’s hospitality industry has remained fairly resilient despite the slump in the wider region caused by the impact of a variety of factors ranging from low oil prices to currency fluctuations, experts ascertain.
The buoyancy of the sector has been attributed to Dubai’s strong travel and tourism industry, which has continued to grow and attract more visitors to the emirate with new offerings.
As one of the newest hoteliers on the block, Emaar Hospitality Group – part of Dubai-based Emaar Properties – benefitted strongly from its focus on the emirate, says newly appointed CEO Olivier Harnisch.
The 10-year-old company enjoyed a good 2016, recording average occupancy of 85 per cent – higher than the industry average. Revenues also grew 14 per cent year-on-year despite the on-going renovation work at the Address Downtown Dubai – which was damaged in a fire on New Year’s Eve in 2015. The hotel is slated to reopen this year.
Emaar, which operates the Address Hotels and Resorts, Vida Hotels and Resorts and Rove Hotels brands, has 10 operational hotels and three serviced residences in Dubai.
“This is where our advantage of being focussed on Dubai comes to play,” says Harnisch.
But the CEO is quick to add that it is important for hotel operators to diversify geographically to avoid being exposed to higher risks.
“I think it’s always important in the hotel business to look long term because short term volatility will always be there. This is where it is advantageous to be present in various markets because it balances out between the stronger and weaker regions,” he explains.
Bu hikaye Gulf Business dergisinin June 2017 sayısından alınmıştır.
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Bu hikaye Gulf Business dergisinin June 2017 sayısından alınmıştır.
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