As the momentum of events and business continues in the emirate
Dubai's 'Hotel Groups' Achieve Exceptional and Historic Revenues and Occupancy Rates
High occupancy in hotel establishments is indicative of high demand rates in Dubai. Archival
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Dubai has been witnessing an active movement of the business and conference tourism sector since the beginning of 2023, managers at hotel groups said, pointing out that with the increase in tourism flow levels, hotels operating in the emirate are recording exceptional and historic revenues and occupancy rates.
They explained to Emirates Today that the revenues of January and February 2023 exceeded the levels recorded in the same period of 2022, by rates ranging between 10 and 12%, as the emirate was witnessing an already busy season, with its hosting of Expo 2020 Dubai.
They stressed that the high occupancy of 100% is indicative of the high rates of demand for Dubai.
Exceptional Growth
Fathi Khojaly, regional director of Hyatt Hotels Group in Dubai and general manager of Grand Hyatt Hotel, said: "The group's 10 hotels in Dubai and eight hotel apartment properties are currently achieving the highest historical performance rates ever in terms of revenue."
He revealed that the revenues recorded by the group's hotels in February 2023 exceeded the levels of the same period last year, when the emirate was hosting Expo 2020 Dubai.
"Revenues recorded an exceptional double-digit growth of between 10 and 12% in February, compared to the same period last year 2022, mainly supported by business and conference tourism in Dubai," Khojaly said, noting that the Group's hotels hosted eight mega-conferences in February, with an average of more than 300 participants per conference, for up to four hotel nights.
"All our hotels are currently recording occupancy rates of up to 100% during this period of the year," he said, pointing out that these indicators predict a strong tourist season in Dubai this year as a whole.
Favorite Destination
Khojaly stressed that «Dubai has succeeded in proving its ability to be the preferred destination for organizers of exhibitions, corporate conferences and mega events in the world», pointing out that the Department of Economy and Tourism in Dubai has focused strongly on this sector for two years, in light of the Covid-19 pandemic, as it was one of the first cities to open its doors, and it was able to gain the confidence of the world, in light of the precautionary measures it took to ensure the safety of international visitors and tourists.
He stressed that Dubai has exceptional capabilities to host the largest conferences, corporate meetings and business forums from around the world, with hotel facilities and equipped facilities, to meet the various needs of visitors and companies, and due to the city's diverse experiences and activities, and the opportunity to visit distinctive landmarks and tourist attractions that have a great reputation and fame worldwide.
Powerful Performance
In the same context, the CEO of TIME Hotels Group, Mohammed Awadallah, said that «the hotel market in Dubai has witnessed exceptional performance rates since the beginning of this year», noting that the group's hotel revenues since the beginning of January 2023 exceeded the levels of the same period in 2022, when hosting Expo 2020 Dubai, which is a very busy period, stressing that this is an indicator of strong performance during the current year.
"Occupancy rates at TIME Hotels have exceeded 83% levels since the beginning of this year," he said. "Two days ago, we reached a 100% occupancy rate, and we did not have a single vacant room," he said, noting that in addition to the high demand for leisure tourism, business and conference tourism is supporting a strong season during the current period.
He pointed out that «high occupancy in hotel establishments indicates high rates of demand for Dubai, and the emirate's position and ability to attract the interest of meeting and event organizers in it, due to the noticeable increase in the number of new hotel rooms that entered the market during the past two years».
He explained that «more international companies choose Dubai as a preferred destination for holding their annual conferences or events, due to the distinguished services provided by the emirate to them».
"In addition to the usual corporate conferences, Dubai has witnessed the World Government Summit and currently the Gulfood Food Exhibition," he said, stressing the continued demand for Dubai for business tourism, conferences, and leisure tourism, which strongly supports growth indicators this year.
In the same context, the CEO of Carlton Hotels, Hosni Abdel Hadi, said that «tourism demand for Dubai reached high levels, during January and February», noting that performance levels in terms of revenues and occupancy are excellent, and exceeded the levels of 2022, and pre-pandemic levels, at a time when demand for the hotel market continues. He added that "occupancy rates in the group's hotels have reached 100%, supported by business and leisure tourism," pointing out that "visitors to the mega exhibitions hosted by Dubai are increasing every year."
He stressed that many international companies and organizers are turning to Dubai for their business meetings.
He explained that «Dubai is a first global destination that attracts millions of visitors every year, and includes many entertainment options, as well as the quality of its services and ease of access and doing business in it».