Dubai hotels report 74 percent occupancy
In the year 2000, hotels operating in the Emirate of Dubai reported an impressive occupancy ratio, soaring as high as 74 percent. Local market sources, reported Al-Bayan newspaper, have revealed that hotel prices dropped noticeably due to rising competition, resulting in a negative impact on the profits of these hotels.
In addition to the rise in the number of the built hotels in Dubai, the operating expenses grew noticeably in the recent year, also contributing to the negative effect on their revenues.
The hotels operating in Dubai expect higher occupancy raets during the new year of 2001. This optimistic forecast is based on several factors — the opening of a tourist ship-landing pier, intensifying of preparations for the meetings of the IMF and the World Bank and the organizing of the Dubai Aviation Exhibition.
The hotels operating in Dubai generated an average of 10-13 percent investment rates of return during the past year. — (Albawaba-MEBG)
© 2001 Mena Report (www.menareport.com)