Palazzo Hospitality plans to expand by adding 3 new brands under its umbrella
Palazzo Versace: High percentage of wealthy tourists vacationing in Dubai
Palazzo Versace Dubai has become a prominent destination in the emirate. Cinematographer: Patrick Castillo
Munther Darwish: "In the wake of the COVID-19 pandemic, Dubai has demonstrated its exceptional capabilities and potential to lead the recovery of the global tourism sector."
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Munther Darwish, CEO of Palazzo Versace Dubai and founder of Palazzo Hospitality, confirmed the high percentage of wealthy tourists and celebrities around the world who come to the emirate every year for the holiday season, pointing out that the diversity of the tourism product in the emirate increases its attractiveness to middle-income visitors as well.
He told Emirates Today that Dubai's tourist attractiveness was also reflected in its investment and commercial position, revealing that Palazzo Hospitality Company is proceeding with expansion plans during the coming period, which includes adding three new brands under its umbrella.
Successful management
Munther Darwish, CEO of Palazzo Versace Dubai and founder of Palazzo Hospitality, said that Dubai has led the recovery of the global tourism sector over the past two years and was one of the first cities to open its doors to international tourism, with the resumption of entertainment events, as well as the meetings, incentives, conferences and exhibitions sector, within measures that adhere to the highest international standards of health and safety for residents and visitors. Darwish added that the emirate's hosting of Expo 2020 Dubai, the first major global event in the wake of the Coronavirus (Covid-19) pandemic, has strengthened the city's reputation, as the exhibition played a prominent role in strengthening the emirate's position as a first destination for international tourism under the effective management of the pandemic.
He stressed that in the wake of the pandemic, Dubai has proven its exceptional capabilities and capabilities to lead the recovery of the global tourism sector, in light of its tremendous assets, strong infrastructure and accumulated experience, while adopting the best practices globally in welcoming visitors and tourists, and providing the finest and most quality services.
Dubai's Attraction
Darwish pointed to Dubai's attractiveness, which enabled it to be the preferred choice for various segments of visitors, pointing to the high percentage of wealthy and famous tourists around the world who come to the emirate every year to spend the holiday season, especially since this category of tourists spends more time during their holidays, and spends at greater rates.
He pointed out that Dubai is also characterized as a tourist destination that caters to different segments of visitors, not only the rich and famous, stressing that the diversity of the tourism product in the emirate increases its attractiveness to middle-income visitors as well.
He said that Dubai's tourist attractiveness has also been reflected in its investment and commercial status, explaining that an increasing percentage of visitors to the emirate are choosing to reside in it and buy property, as well as start business commercial projects.
Global Indices
Darwish stressed that the emirate has continued to enhance its tourism attractiveness over the past years, and ranked first on the list of the world's best destinations for travelers for 2022, according to TripAdvisor, which strengthens its position to become the preferred and leading destination in the hospitality and entertainment sectors. He said that Dubai is a "global brand" and one of the most important tourist destinations in the world that millions of visitors visit every year.
He pointed out that Dubai retained, for the second year in a row, its lead in the Middle East and North Africa, and the second place globally after Paris on the index of the top 100 cities as a global tourist destination 2022, according to Euromonitor International.
Darwish pointed out that Dubai occupies an advanced position annually among the most livable cities in the Middle East, according to the report «Economist Intelligence Unit», pointing out that the emirate was one of the first destinations to encourage individuals to work remotely, through the advanced infrastructure and environment that enables them to perform their work during their stay in the emirate.
Strong bookings
Darwish said that the movement of confirmed reservations for hotel rooms is very strong, and growth is expected to accelerate at a greater pace over the next few months, with Dubai hosting many major international events and events, including the Dubai Airshow, COP28, and other mega exhibitions, pointing out that these strong indicators are also based on Dubai Airports' forecasts to receive about 78 million passengers this year through Dubai International Airport.
Palazzo Versace Dubai
Darwish said that Palazzo Versace Dubai has turned into a prominent destination in Dubai, especially for celebrities, wealthy people and various segments of visitors, pointing out that the hotel has achieved strong performance rates during the past two years, while future bookings confirm strong growth.
«Palazzo Hospitality»
Darwish confirmed that «Plazzo Hospitality» is proceeding with expansion plans during the coming period, which includes the addition of three new brands under the umbrella of «Palazzo Hospitality», including: «Siutra Luxury Resorts», as two resorts will be operated in Zanzibar and Maldives soon with a capacity of 90 and 40 villas each, respectively, and the brand «The Apprentiment», which targets the business sector, where it is expected that the first hotel in Dubai will be operated under this brand in the near future, in addition to To the third brand «Myde», which is currently being discussed to open a hotel under its brand in the coming period.
The hotel sector has passed pre-pandemic levels
Munther Darwish, CEO of Palazzo Versace Dubai and founder of Palazzo Hospitality, confirmed that the hotel sector in Dubai has exceeded pre-pandemic levels across various indicators, including the number of nights booked hotel rooms, the average daily rate, revenues from available rooms, as well as the number of hotel rooms, as thousands of new rooms entered the market during the past two years, despite that, the market was able to absorb this increase perfectly, which was reflected in the growth of the indicators.
He pointed to data from the Department of Economy and Tourism in Dubai, which revealed an increase in the number of international visitors to Dubai during the past year, as the emirate received 14.36 million international visitors from January to December 2022, an increase of 97% compared to the same period in 2021, during which it received 7.28 million visitors, exceeding the levels of recovery of the global and regional tourism sector.