Published on : Wednesday, August 2, 2017
Dubai’s hospitality industry continues to steal the limelight as the emirate has been rated among the global cities that are growing at a rapid rate and rivaling the leading markets in terms of size and prestige.
The emirate has been rated at par with Shanghai, Beijing, Bangkok and Guangzhou in the “Rising Giants” category based on their ability to quickly mature and now finds its place among the world’s largest hotel markets.
The rating was based on both ‘Magnitude’ – their scale in terms of room numbers and investment and ‘Momentum’ – the speed of change in a market based on construction, socio-economic growth and changes in performance.
To quote Marko Vucinic, senior vice-president, acting head of hotels and hospitality group, Mena, “Dubai has established a position as a global hub for tourism and business. Its supply pipeline continues to be among the largest in the world, representing 50 per cent of an already substantial market. Nevertheless, the pace of supply is having an impact on hotel performance, despite demand continuing to increase.” He added, “We have been able to witness this change in the Middle East, particularly in Dubai, as the hospitality markets here are now poised to adapt technological advancements.”
Laurent A. Voivenel, senior vice-president, Operations and Development for the Middle East, Africa and India, Swiss-Belhotel International, said that there are multiple reasons that make Dubai a “Rising Giant” in global hospitality industry.
To quote Voivenel, “The city has got everything that one can think of. world-class infrastructure, outstanding leisure attractions, safe destination, superb global connectivity, expanding low-cost carriers, great weather eight months of the year, beautiful hotels and restaurants, amazing beaches, excellent quality of life, cosmopolitan culture and friendly people.”
Attractions such as the Dubai Opera, City Walk, IMG Worlds of Adventure, the world’s largest indoor theme park, Dubai Water Canal, and Dubai Parks and Resorts, the region’s largest integrated theme park resort have all further added to Dubai’s appeal as well as contributed to steep rise in leisure tourism.
In order to move Dubai to “Global Giants”, Voivenel sees the need for more quality mid-scale hotels.