UAE’s hotel industry performing well

The U.A.E.'s hotel industry continues to maintain robust performance as it enters the third quarter of the year. The emirate of Dubai alone has reported massive occupancy as it hosted a plethora of events that attracted a huge influx of international visitors that propelled occupancy rates in the four- and five-star hotel category respectively. The strong demand has also allowed hoteliers to increase yields through its 100 per cent occupancy. The respective hotels occupancy and increasing average rates also resulted in gross operating profits, according to recent survey. Most of the international hotel brands in the U.A.E. are in the process of establishing new branches or refurbishing existing facilities to provide their respective customers with quality services and accommodation facilities. Many of these hoteliers are already gearing up towards the Expo 2020 demand to cater to the much-awaited influx of visitors expected to arrive for the world mega event in six years time. At the same time, Marriott International's Middle East and Africa (MEA) investment and expansion plans are reaping strong rewards as the hotelier reports positive second quarter (Q2) results. Marriott International's signature business and leisure brand, Marriott Hotels, also continues to grow in popularity. The JW Marriott Marquis Dubai has also continued to perform exceptionally well witnessing strong demand since the start of 2014; demand has subsequently exceeded supply enabling the hotel to bring its total operational room count to 1,500 in June — ahead of schedule. RevPAR excluding Egypt improved 7% YOY and was driven by occupancy growth of 4.4% YOY. Overall, Q2 RevPAR improved by 3.9% for MEA including Egypt. The results include the recently acquired Protea Hospitality Holding for the first time since the hotelier's acquisition at the start of the year. The total number of hotels now stands at 155 with 23,000 rooms across eight brands; The Ritz-Carlton Hotel Company, JW Marriott Hotels, Marriott Hotels, Renaissance Hotels, Protea Hotels, Marriott Executive Apartments, Courtyard by Marriott and Residence Inn by Marriott. Commenting on the company's performance, Alex Kyriakidis, President and Managing Director of Marriott International, Middle East and Africa, said: "On the 1st of April, we completed our acquisition of Protea, whereby we leap-frogged our competition to become the number one hospitality company in Africa and second largest operator across the Middle East and Africa. The positive results reaffirm the growing popularity of our brands across the region and the successful integration of Protea into the Marriott family.” During the first quarter of the year Marriott International launched the Al Jaddaf Marriott Hotel Dubai and Marriott Executive Apartments Al Jaddaf Dubai helping to strengthen its hold on the U.A.E. market. In the second quarter two Protea Hotels were also opened including Protea Hotel Lusaka Tower, Lusaka, Zambia (April) and the one just last week in Lagos Nigeria, the Protea Hotel Select Ikeja, Lagos -August 2014. The iconic Riyadh Marriott Hotel, the first ever Marriott in the Middle East was also re-launched in March. The Marriott brand announced the opening of a new property in Doha's West Bay district, where three hotels currently known as the Renaissance Hotel, Courtyard by Marriott and Marriott Executive Apartments Doha City Centre become one. The Marriott Marquis City Centre Doha Hotel is in line with Marriott Hotels' new brand strategy and "Marquis” is a brand extension of the Marriott Hotels and JW Marriott Hotels brands. It is given to select properties that are distinguished by their exceptional offerings and iconic locations, including expansive meeting facilities, multiple restaurants, and grand public spaces. The Marriott Marquis City Centre Doha Hotel with its 580 guest rooms, 1,200 square metres of flexible meeting space, and breath-taking views of the Doha skyline and Arabian Gulf is no exception.
Kyriakidis added: "Whilst the Protea deal kept us busy during the first three months of the year, the second quarter was also marked by new hotel openings and a plethora of new deals.
Source: The Gulf Today