{"id":207978,"date":"2010-01-21T08:43:21","date_gmt":"2010-01-21T13:43:21","guid":{"rendered":"http:\/\/www.skyscrapercity.com\/showthread.php?t=1050541"},"modified":"2010-01-21T08:43:21","modified_gmt":"2010-01-21T13:43:21","slug":"property-slump-biggest-challenge-for-dubai-hotels","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/207978","title":{"rendered":"Property slump ‘biggest challenge’ for Dubai hotels"},"content":{"rendered":"
http:\/\/www.arabianbusiness.com\/57941…r-dubai-hotels<\/a><\/p>\n

Property slump ‘biggest challenge’ for Dubai hotels
\nby Joanne BladdThis email address is being protected from spam bots, you need Javascript enabled to view it on Wednesday, 20 January 2010
\n The president of Fairmont Hotels & Resorts has branded the collapse of Dubai\u0092s real estate industry the \u0093single biggest challenge\u0094 facing the emirate\u0092s hospitality industry.<\/p>\n

In the peak of the property boom, the engine of Dubai\u0092s economy, hotels leaned heavily on its custom to fill their rooms and were left with few alternatives when the real estate market slumped, said Thomas Storey.<\/p>\n

\u0093I think the single biggest challenge this destination has right now, is that a lot of the business of this destination was driven by real estate…and all of the follow-on business associated with that, you know, all of the designers, all of the architects, all the engineering firms, all the heat, light, gas. When that started dialling back, unfortunately Dubai doesn\u0092t have a lot of other industries to fall back on,\u0094 he said.<\/p>\n

Related: EXCLUSIVE: Fairmont Palm Jumeirah delayed over funding
\nRelated: Mideast tourism drops 6% but H2 recovery seen
\nStory continues below ↓
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\nRevPAR at the Fairmont Dubai, a figure reflecting a hotel\u0092s average daily room rate and occupancy, was down more than 25 percent in 2009, he said.<\/p>\n

\u0093I think we\u0092re still feeling it [the real estate crash] and I think Dubai will feel it for a while.<\/p>\n

\u0093My concern about Dubai has always been, \u0091does it end up not having enough runway?\u0092 In other words, you get to a point where you\u0092ve got to start diversifying that business base in a way that, if you have a shock to one segment, you\u0092ve got other segments to fall back on.\u0094<\/p>\n

Last week, it was report that the UAE would see a recovery in tourist numbers this year with arrivals picking up even further in 2011.<\/p>\n

In its latest report on the country’s tourism prospects, Business Monitor International said they were upbeat about the sector long-term, despite being hit last year by the effects of the global economic downturn.<\/p>\n

It said although it maintained a "rather poor outlook for the UAE in the short term", it saw visitor numbers rebounding this year and next, without giving specific numbers. <\/p>\n

refered by …… -> http:\/\/www.arabianbusiness.com\/<\/a>
\nurl is -> http:\/\/www.arabianbusiness.com%2F579…r-dubai-hotels<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

http:\/\/www.arabianbusiness.com\/57941…r-dubai-hotels Property slump ‘biggest challenge’ for Dubai hotels by Joanne BladdThis email address is being protected from spam bots, you need Javascript enabled to view it on Wednesday, 20 January 2010 The president of Fairmont Hotels & Resorts has branded the collapse of Dubai\u0092s real estate industry the \u0093single biggest challenge\u0094 facing the emirate\u0092s hospitality […]<\/p>\n","protected":false},"author":2748,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-207978","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/207978","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/2748"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=207978"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/207978\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=207978"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=207978"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=207978"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}