Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

GCC a bright spot in the global economy  Join our daily free Newsletter

MENAFN - Khaleej Times - 06/05/2014
No. of Ratings : 0
Add to Mixx!


(MENAFN - Khaleej Times) Spitality leaders at the arabian hotel investment conference (ahic) said that the middle east region in general and the gcc in particular remains one of the brighter points in the global economy.nenad pacek co-founder of the ceemea business group who talked exclusively on monday at ahic about his perspective regarding mea business economic and political outlooks and corporate priorities for expansion said: “western european growth is still low and the central and eastern european region is underperforming. russia is coming to zero growth because of the ukrainian crisis. suddenly emerging asia is slowing latin america is almost a replica of emerging asia and brazil is down since the devaluation so if you are a global ceo you don’t have too many places driving growth other than sub-saharan africa and the middle east and north africa.” at the industry performance review session managing director at str global elizabeth winkle said that the middle east was the world’s most buoyant hotel market in the year ending march 2014. some of the strongest average daily room rates (adrs) across the world are to be found in the middle east.“some of the strongest occupancies in the world are also in the region. dubai and jeddah recorded significant growth in adrs during first quarter and lead the middle east markets”. winkle said.she further said abu dhabi amman doha and manama recorded double-digit growth in occupancy in the year ending march 2014 however the adr rate in all four markets was down on a year-on-year basis due to rising supply particularly in abu dhabi. “dubai has seen occupancy rates in the first quarter of 88 per cent” she said adding that any market operating at an occupancy rate of more than 62 per cent is deemed to be operating very effectively.winkle said that if every planned hotel came on line there would be a 40 per cent rise in the number of middle east hotel rooms.“there were almost 35000 new rooms in the hotel pipeline in saudi arabia and the uae. there are 10000 rooms under construction only in dubai” she said.more than 18000 new middle east hotel rooms came on line in the year ending march 2014.mat green head of research and consultancy uae at cbre middle east said 2014 is set to see significant new supply with around 4000 new hotel keys set to be delivered taking total room inventory to 67000 by year end. in addition there are also a further 2000 hotel apartments set to be delivered during the course of the year.at the ‘defining the growth markets’ panel session jean-jacques dessors said accor keeps on consolidating its position as a leader in the hospitality industry worldwide with over 3600 hotels and 450000 rooms operated in 92 countries.andrew clough senior vice-president hilton worldwide asia pacific and middle east said the panel for ‘defining the growth markets’ session was a robust and insightful discussion by experienced industry leaders.in another session ‘owner and operators — making the marriage work’ experts discussed what the management companies are bringing to the table and what value do owners feel they are creating.ihg chief operating officer for india middle east and africa pascal gauvin said the middle east continues to be a “critical part of our international success at ihg and we see immense potential across the region as the market matures and diversifies”.“we are looking towards exciting times ahead in the middle east as we expect to grow by nearly 35 per cent across the region over the next three to five years. we are especially excited about opening the prestigious intercontinental dubai marina at the end of this year and launching a new ihg brand in the region with hotel indigo to open in riyadh in 2015” gauvin said.lahcen haddad moroccan minister of tourism gave an update on north africa and said the moroccan tourism sector is guided by a strategy for tourism development called vision 2020.“our aim is to make of morocco by 2020 among the top 20 global destinations and will emerge as a reference in the mediterranean region for sustainable development. with an objective of doubling the size of the sector we are establishing tourism as the first industry of the country.”on the sidelines of the conference world’s leading hotel asset management association said it is expected to open an affiliate headquartered in dubai covering the middle east and africa. the association currently has established affiliates in usa asia pacific japan and europe.in another development worldhotels said it is planning to expand its presence in the middle east. “growing our brand in the middle east is an essential part of our long-term expansion strategy” said sven doliwa vice-president sales and business development emea at worldhotels.— muzaffarrizvi?khaleejtimes.com


 


Khaleej Times




  MENA News Headlines
 Dec 4 2016 - First Bloomberg Markets Most Influential Summit Abu Dhabi to Convene the Leaders and Innovators in Finance Shaping the Future of InvestingMENAFN Press
(MENAFN Press) The Bloomberg Markets Most Influential Summit will make its Middle Eastern debut in Abu Dhabi this week, convening global financial leaders and investors who are moving markets, ...

 Dec 4 2016 - Farid Chedid Chairman and CEO of Chedid Re named ‘MEA Industry Achiever of the Year’ at the 2016 MEA Risk & Insurance Excellence AwardsMENAFN Press
(MENAFN Press) Beirut, Lebanon, December 4, 2016 : (ME NewsWire) During a special honoring ceremony held at the Four Seasons Hotel in Dubai, the publishers of Global Reinsurance and StrategicRISK ...

 Dec 4 2016 - Saudi, Qatari, UAE, Turkish Joint Statement on Calling to Hold UN General Assembly Formal Plenary Session on Syria 3 United NationsSaudi Press Agency
(MENAFN - Saudi Press Agency) The statement added that "We have seen in recent weeks, the launching of heavy unleashed military aggression against Aleppo and its neighboring areas with severe ...

 Dec 4 2016 - Saudi- Kingdom succeeds in shrimp farming: Global Magazine saysSaudi Press Agency
(MENAFN - Saudi Press Agency) Riyadh, 05 Rabi'I, 1438,December 04, 2016, SPA -- Global Aquaculture Advocate magazine confirmed in its latest issue in a report entitled "Kingdom of Saudi Arabia ...

 Dec 4 2016 -  Vietnamese floods kill 13Saudi Press Agency
(MENAFN - Saudi Press Agency) Hanoi, Rabi'I 5, 1438, Dec 4, 2016, SPA -- At least 13 people have been reported dead in central Vietnam's most recent spate of floodings, according to dpa. The ...

 Dec 4 2016 - Saudi Ambassador to Egypt: Kingdom Tops World in Supporting Refugees 2 CairoSaudi Press Agency
(MENAFN - Saudi Press Agency) Ambassador Qattan also said that the Kingdom considered the brotherly Yemeni refugees on its territory as its visitors, and provided more than half a million Yemeni a ...

 Dec 4 2016 - Al Watan Daily Highlights Depth of Fraternal Relations between Qatar and Saudi ArabiaQatar News Agency
(MENAFN - Qatar News Agency) Doha, December 04 (QNA) - Qatari daily (Al Watan) confirmed in its editorial Sunday the depth of the fraternal relations and cooperation between the State of Qatar and ...

 Dec 4 2016 - Nepalese Foreign Minister Meets Qatar's AmbassadorQatar News Agency
(MENAFN - Qatar News Agency) Kathmandu, December 04 (QNA) - Foreign Minister of the Federal Democratic Republic of Nepal Dr. Prakash Sharan Mahat has met with HE Qatar's Ambassador to Nepal Yousef ...

 Dec 4 2016 -  South Korea, US Seek Ways to Counter North Korea's Submarine-Launched Ballistic threatQatar News Agency
(MENAFN - Qatar News Agency) Seoul, December 04 (QNA) - South Korea and US forces are stepping up efforts to better counter the growing threat from North Korea's submarine-launched ballistic missiles ...

 Dec 4 2016 -  Five Gunmen, Including ISIS Leader, Killed in DagestanQatar News Agency
(MENAFN - Qatar News Agency) Moscow, December 04 (QNA) - Five militants, including an ISIS leader, have been killed during a special operation held in a suburb of Makhachkala, the capital of Russia's ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Search News
Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help