GCC hospitality sector on track for 2011 recovery

26 May 2009

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.

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