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Booming hotel industry in the UAE, by Euromonitor International The hotel industry in the United Arab Emirates is experiencing dynamic growth as large international chains establish luxurious hotels that are attracting more and more tourists from around the world, according to a new report from Euromonitor International – “Travel and Tourism in the UAE”. Innovative hotel designs and spectacular views are being created, attracting diverse architects and talents. The growth in the hotel industry was mainly due to openings by chained hoteliers, including local players and internationally respected brands. With positive tourism projections, investment continues to pour into this booming sector and interest is also being generated by influential personalities such as Donald Trump and Giorgio Armani, who now both have a stake in the hotel industry. The overall accommodation market has been growing dramatically in the UAE, but hotels are the main driver, accounting for approximately 85% of the market. The largest growth in percentage terms was experienced in 2004 when hotel sales soared to AED7 billion from AED5 billion in 2003, an increase of 38%. In 2005, the country's hotels continued to perform well and experienced near-full capacity of 86%. In 2005, an increase of 14 new hotel chains opened their doors in the United Arab Emirates, reaching a total of almost 300 chained hotels. The UAE's accommodation portfolio spans across the star service range with many also operating at the less expensive end of the market. Nevertheless, the focus is on expanding the market for luxurious hotels that provide top quality customer service. Currently, there are nearly 150 5- and 4-star hotels located across the territory. For further detail about this article and other related findings, please visit Euromonitor International by clicking here.
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