Dubai’s hotel industry continues to post positive figures nearly six months into 2012. Recently released results show that the market registered a 3.9% rise in occupancy during March compared to the same period in 2011, while hotels were counting the profits thanks to a 5.8% increase in average room rates. According to the figures posted in TradeArabia, revenue per available room (RevPar) also rose by 10.7% in March 2012, compared to March 2011.
“These numbers represent milestones in the story of the growth of Dubai as a global tourism hub,” commented Yousef Wahbeh, Mena head of Transaction Real Estate at Ernst & Young. “It is unlikely that we will see monthly hospitality sector numbers decline this year and they are likely to form the basis of growth for the coming years,” Wahbeh said.
Industry experts are also confident that this trend will continue throughout 2012; with every indicator to date supporting ongoing growth for Dubai’s tourism and hotel industry. This forecast can only come as good news for those who have chosen to invest in the emirate’s hotel sector, including The First Group, who recently launched its latest opportunity to invest in Dubai’s hotel industry, through the prestigious TFG Dubai Marina Hotel. The four star hotel apartment is located in what has fast become one of the emirate’s most coveted property areas; the multi billion dollar Dubai Marina development.