Dubai hotel industry primed for growth in 2011, says Starwood

25/01/2011 - Dubai Property News Posted by Bob Brunskill
Dubai hotel industry primed for growth in 2011, says Starwood

Dubai's hotel sector is set for further expansion in 2011, the head of luxury hospitality chain Starwood has said.

Frits van Paasschen, chief executive officer of the company, noted that occupancy rates at its Dubai hotels had remained high in 2010, averaging above 80 per cent for the year.

Speaking to Arabian Business, he highlighted a range of factors which suggested that Dubai's hotel sector would continue to grow this year.

"We have about 47 hotels in the Middle East and about 20 in the UAE. Economic growth is certainly quite strong here. The availability of capital is quite good, with the export of oil and gas in the region," said Mr Van Paasschen.

"Perceived risk is rather low. Even in the crisis, occupancies were very stable. All this points to a market that will continue to grow nicely."

Starwood owns various major brand names in the global hotel industry including Sheraton, Le Meridien, Westin, Four Points, The Luxury Collection and Aloft.

Commenting on the company's future growth strategy, Mr Van Paasschen said it was looking to emerging markets and added that it was encouraged by the growing demand for global travel and travel infrastructure.ADNFCR-2019-ID-800361991-ADNFCR

There’s never been a better time to invest in Dubai, say industry heavyweights heading to this month’s Cityscape Global Conference. Invest in your Future - Click here to learn more.