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
 May 23 2015 - Qatar Participates in Arab Chiefs of Staff MeetingQatar News Agency
(MENAFN - QNA) The second meeting for Arab chiefs of staff started Saturday at the Arab League general secretariat. HE Chief of Staff Air Vice-Marshall Ghanim bin Shaheen Al Ghanim is leading ...

 May 23 2015 - Model Karlie Kloss stuns in standout designer gownArab News
(MENAFN - Arab News) CANNES France: Model Karlie Kloss gave celebrity guests at the amfAR annual charity gala more than a run for their money in the style stakes wearing a slinky diamante-encrusted ...

 May 23 2015 - Oman's ORPIC takes out USD910m loanMENAFN
(MENAFN) Oman Oil Refineries and Petroleum Industries Co. (ORPIC) has taken out a USD910 million ten-year loan from local and regional banks, Arab News reported.The money will be used to "meet ...

 May 23 2015 - Jordan's economy grows 3.8 percent amid political crisesMENAFN
(MENAFN) Jordan's economy is robust despite spillover violence along its borders from wars in Syria and Iraq, the central bank governor said, Arab News reported.Weak oil prices that have cut the ...

 May 23 2015 - Egypt to launch USD3b LNG tender over 2016-17MENAFN
(MENAFN) Egypt is set to launch what will be a highly sought after tender in early June to buy up to USD3 billion of liquefied natural gas (LNG) over 2016 and 2017, Arab News reported.Egypt has ...

 May 23 2015 - Iraqi forces clear path to key refinery: USThe Peninsula
(MENAFN - The Peninsula) Iraqi troops fighting Islamic State group forces have cleared a ground route into the country's largest oil refinery, the US military said Friday. "Iraqi Security Forces and ...

 May 23 2015 - Priest kidnapped in Homs region of Syria: NGOThe Peninsula
(MENAFN - The Peninsula) A priest of the Syriac Catholic Church in the western Syrian city of Homs was kidnapped Thursday along with one of his colleagues, the NGO l'Oeuvre d'Orient told AFP Friday. ...

 May 23 2015 - Suicide bomber in deadly attack on Shia mosque: SaudiThe Peninsula
(MENAFN - The Peninsula) A suicide bomber set off an explosion during weekly prayers in a Shia mosque of eastern Saudi Arabia leaving many dead Friday, the interior ministry said. "It has been ...

 May 23 2015 - Iraqi forces to launch Ramadi fightback in 'coming days'The Peninsula
(MENAFN - The Peninsula) Iraqi government and allied forces will launch an offensive aimed at retaking the city of Ramadi from the Islamic State group in the coming days, a spokesman said on Friday. ...

 May 23 2015 - Iraq- 55,000 have fled IS-captured Ramadi since mid-May: UNThe Peninsula
(MENAFN - The Peninsula) The United Nations said Friday that around 55,000 people had fled Ramadi since a surge by the Islamic State group in mid-May that landed the Iraqi provincial capital in the ...

more...


 






Google

Click to Apply

 
 

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

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

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