Big Boost for Dubai Hotel Profits

11/11/2011 - Dubai Property News
Big Boost for Dubai Hotel Profits

Dubai’s hotels and hotel apartments are counting the rewards from a highly successful 2011 to date. From January to September, new figures from the Dubai Department of Tourism and Commerce Marketing (DTCM) show guest numbers reached 6.6 million, a rise of 11% compared to 5.9 million for the same period last year. The first three quarters of 2011 also saw revenues rocket by 19%, a major boost for Dubai’s buzzing hotel industry. Hotel apartment occupancy rose by 6% to 79%, slightly above hotel room occupancy rates which posted an average of 76%.

As a result profits from the emirate’s hotels and hotel apartments increased to an impressive US$2.98bn from January to September. The influx of new hotel rooms, competitive rates and the impact of the Arab Spring in other parts of the region have all served to push Dubai’s popularity up. The figures continue to prove Dubai’s hotel industry to be one of the most vibrant in the world. Watch this space for the latest news on The First Group’s very own hotel apartment developments, the first of which – First Central – recently opened in Dubai’s Tecom district. With occupancy levels averaging 79%, there is no better time to invest in Dubai’s lucrative hotel apartment market.