Dubai hotels continue to outperform their rivals

31/01/2013 - Dubai Property News Posted by Bob Brunskill
Dubai hotels continue to outperform their rivals

Dubai hotels have delivered excellent results during the last 12 months, securing the greatest profits in the Middle East for the third consecutive year.The latest HotStats survey from TRI Hospitality Consulting has revealed the city state's hotels have witnessed a 13.8 per cent increase in gross operating profits per available room to $240.46 - its highest ever level.In addition, total revenues were boosted by a 5.2 per cent rise in total revenue per available room (TRevPAR), as well as a 4.9 per cent reduction in operating costs for hoteliers.Peter Goddard, managing director at TRI Hospitality Consulting, commented on the results: "December figures for Dubai reflect the continued trend in 2012, as Dubai's uninterrupted string of events, conferences and festivals maintained a steady stream of demand."Occupancy levels for Dubai hotels grew by 0.8 percentage points during the course of the year to 84.6 per cent overall, while the festive season witnessed a major upturn in TRevPAR to $497.19.Last month also saw a boost in occupancy for Dubai hotels, with a 1.1 per cent increase on the average for the year as a whole.This latest positive announcement for the Dubai hospitality sector coincides with the news that Movenpick Hotels & Resorts is set to open its fifth offering in the popular Middle Eastern city.Set to be constructed in the Al Mamzar area of Dubai's historical centre Deira, the hotel will offer 180 superior and deluxe rooms, as well as a range of one and two-bedroom suites for guests."In addition to being the only international hotel company in Al Mamzar, we look forward to differentiate the hotel by providing the Swiss quality, value and five-star service which Movenpick is renowned for," commented general manager of Movenpick Hotel Apartments The Square Chadi Gedeon.The opening of a sixth new venture - Jumeirah Lake Towers - will also take place later this year.