Hotel project boom in Dubai
HAMBURG, Germany (September 16, 2008) - The opening of the Atlantis resort in Dubai (1,529 rooms) at the end of September will mark the completion of one hotel project of nearly 100 in the United Arab
HAMBURG, Germany (September 16, 2008) – The opening of the Atlantis resort in Dubai (1,529 rooms) at the end of September will mark the completion of one hotel project of nearly 100 in the United Arab Emirates. Within the next five years, approximately 42,000 rooms will be added to the first-class and luxury hotel market of Dubai. The number of leading hotels will grow by 21 percent, which is more than any other region of the world. According to a study of tophotelprojects.com®, the number of first-class and luxury hotels worldwide is increasing by 7.1 percent (that means more than 2,570 hotels and resorts).
“The increasing number of first-class and luxury hotel construction projects is a result of the phenomenal growth of tourism worldwide. For several years we have monitored more and more new large hotel projects in nearly all important business and leisure destinations,” said Rolf W. Schmidt, vice president Marketing and Sales EMEA of CHD Expert Group.
The number of luxury hotels will increase by 16 percent as the number of first-class hotels will only rise by 4 percent. In North America and the Caribbean, as well as in the Asia/Pacific region, the number of top hotels will grow by 13 percent. In Europe the number of upscale hotels will increase only by 4 percent as the market saturation is more advanced.
In Germany, Austria and Switzerland more than 400 new first-class and luxury hotels will be opened. At present, in the German-speaking region, 378 luxury hotels and 5,631 first-class hotels are in business.
In the Middle East the strong growth of the tourism industry is the main reason for real estate investors to fund new hotels and resorts. The number of luxury hotels will increase by 42 percent, the number of first class hotels will rise by ten percent.