New figures spell good news for developers and investors in the city’s hotel industry
Dubai, UAE -- (SBWIRE) -- 09/21/2014 -- Dubai’s hotels welcomed more than 5.8 million guests in the first half of 2014, according to a new report by Dubai’s Department of Tourism and Commerce Marketing (DTCM). Revenues also topped Dhs 12.74 billion ($3.18 billion), up 10.9% year on year, while guest nights rose by 6.7% for hotels and 4.1% for hotel apartments. The new figures will come as good news for investors and hotel developers in the emirate, such as The First Group, a Dubai based property developer with an exclusive focus on building iconic hotels.
“These first half results really show just how well Dubai’s hotel market continues to perform and indeed outshine many more established cities around the world,” commented Rob Burns, Chief Operating Officer of The First Group, a Dubai based company with more than 30 years of senior management expertise in the global property industry. “We are very excited about what Dubai’s future holds, particularly with the World Expo on the horizon and the city’s vision to welcome 20 million visitors by 2020.”
The First Group currently has two hotel developments in operation; the highly popular Metro Central and First Central in Tecom – both operated by Auris. It is also building two more hotels in the area and one in Dubai Marina, two of which – TRYP by Wyndham and Wyndham Dubai Marina – will be managed by the world’s largest hotel company, Wyndham Worldwide. Under Wyndham’s partnership with The First Group, the launch of these two developments will mark a UAE debut for Wyndham, which has a portfolio of more than 7000 hotel properties in 66 countries across six continents.
“A few years ago we made an important, strategic decision to change our company’s focus to hotel property and it is a choice that we have not regretted, especially given the strength and continued performance of the city’s hotel industry,” continued Rob. “We are delighted with these first half results and have no doubt our investors will be too. There is a lot to look forward to in the hotel market over the coming years and we are very proud to be a part of it all.”
According to the DTCM report, Dubai currently has 88,680 hotel rooms across 634 establishments, including 7,000 new rooms that were added over the last 12 months. The emirate’s top 10 tourism source markets also remained largely unchanged from 2013 and included Saudi Arabia, India, UK, USA, Russia, China, Iran, Oman, Kuwait and Germany, with visitors from China up by 26%.
About The First Group
The First Group is an internationally acclaimed, British-owned, global property development company based in Dubai, with an exclusive focus on creating innovative, iconic hotel projects. The company was co-founded by Danny Lubert and Gary Shepherd who have an outstanding track record, with more than 30 years of collective senior management expertise. Joint chairmen, Lubert and Shepherd draw from strong and diverse backgrounds in the fields of global property, finance, acquisition, marketing and product development. The First Group and its founders’ expert eye for emerging property market potential and prestigious partnerships with industry leaders mean that owners can enjoy secure and attractive returns from one of the world’s most vibrant hotel markets. With a global headquarters in Dubai and offices spanning Moscow, Almaty, Kazan, Astana, Abuja, Lagos and Jeddah, The First Group’s expansive client base is already enjoying lucrative financial rewards. For more details visit http://www.thefirstgroup.com.