Emil Rademeyer, directory of Proleads market intelligence research has said that he expects the stabilisation of the GCC hospitality market in 2010 and growth beyond in 2011, despite the global recession. Since 2003, Saudi Arabia, Qatar and Bahrain had witnessed an increasing growth rate, while the UAE had seen a similar rate of growth until 2005 when it stabilised, he said. Rademeyer estimated the average occupancy of hotels in the UAE to be currently set at 50%, whereas prior to the slowdown, the region saw an increase to 75%-80% occupancy, which remained stable; demonstrating that supply met demand.
You might also like...
UAE builds its downstream and chemicals potential
24 April 2024
Acwa Power eyes selective asset sales
24 April 2024
Bahrain mall to install solar carport
24 April 2024
Aramco extends Karan field bid deadline
24 April 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.