Dubai’s hotel sector will showcase new 71 recognized hotels under planning or construction stages offering 22,000 supplementary rooms to
the market as shown in the research.
According to the report, while most markets felt the decline in demand during the period of 2008 to 2011, the market of Dubai’s hotel had reached a minimum of 70% market wide occupancy levels. The demand for hotel room in Dubai has not only increased significantly in the last seven years, but had retained itself in the middle of the crisis.
Year 2006 was when almost 39,000 rooms across all sectors were made brought by 233 hotels in Dubai of which 152 hotels are considered independent or unaffiliated.
It is deemed that the continued growth in demand, complemented by ongoing progress in tourism infrastructure and outstanding hotel operation implementation, has motivated investors to put their interest in hotel development in Dubai.
The supply for hotel surpassed the growth in demand last 2013 explained by a director at Deloitte Middle East. The increase in room supply matching the continuous growth in demand indicates a very healthy and strong hotel market.
Saudi Arabia was on the lead and contributed 1.4 million visits to Dubai in 2013, next was India which posted 0.9mn visits, and the 0.75million visits came from UK. The report stressed the major growth markets for Dubai was Saudi Arabia, the Russian Federation, Iran and India.
It is evident that by the first quarter of 2014, the total stock of hotels had grown by almost 48% with the addition of 111 new hotels.