Tourism and Hospitality

Worldhotels reports strong growth in ME
Worldhotels has reported significant year-on-year growth in revenue, room nights and room rates for the Middle East region, a company statment said. The company said total revenue in 2007 at its seven properties in Bahrain, Kuwait, Jordan, Lebanon, Saudi Arabia and the UAE increased 43% over the previous year. Room nights were up by 19% and the average room rate grew by 20% to $240.
Thursday, April 24 - 2008 at 08:56

Kempinski to manage Dubai World hotel in Comoros
Dubai World Africa has chosen Kempinski Hotels to manage a luxury beach resort in the island nation of Comoros, located off the eastern coast of Africa. The Dubai state-owned company, which has interests ranging from real estate to ports, will invest $70m in the development of the 5-star hotel, and 100 new upscale residential villas and townhouses on 22.5ha of adjacent prime beachfront. The project will undertake the redevelopment of the Comoros' leading hotel, Le Galawa Beach, which is situated on Grande Comore near the country's capital Moroni, a statement said.
Wednesday, April 23 - 2008 at 14:01

Daewoo Shipbuilding to develop tourism in Oman
Daewoo Shipbuilding & Marine Engineering Co has signed a deal with the government of Oman to develop tourism in Duqm, a port city about 450 kilometres south of Muscat, reported Bloomberg. The venture, which will be the South Korean company's first foray into real estate, will develop Duqm into a tourist and business area, the Seoul-based company said. Daewoo Shipbuilding, the world's third-biggest shipyard, is turning to new businesses to tap increased spending in the Middle East.
Oman: Wednesday, April 23 - 2008 at 11:02

Marriott to manage two hotels in Abu Dhabi
Marriott International will manage two new hotels in Abu Dhabi being developed by Aldar Properties. The properties are a 400-room Renaissance Hotel & Suites and a 200-room business hotel called The Courtyard by Marriott International, at the Central Market re-development in the heart of Abu Dhabi, Aldar said in a statement. The deal marks the first Renaissance Hotel and the first Courtyard by Marriott Hotels in Abu Dhabi.
United Arab Emirates: Wednesday, April 23 - 2008 at 09:41

Emirates Palace wins award
Emirates Palace in Abu Dhabi was named the world's leading conference hotel at the 14th annual world travel awards ceremony this week. It was also honored as having the world's leading suites. With over 7,000 square metres of space available, Emirates Palace is the largest meeting and conference venue in the Middle East and North Africa.
United Arab Emirates: Wednesday, April 23 - 2008 at 09:34

Gulf hotel rates to remain high
Gerald Lawless, executive chairman of Jumeirah Group, said he does not expect hotel rates in the Gulf to fall despite a rise in the number of rooms across the region, reported Gulf News. Dubai currently leads global hotel statistics with an average room rate of $283 in 2007. Meanwhile, other Gulf cities also topped the $200 mark. Lawless said the current rates may level off, but he does not expect them to decrease.
Wednesday, April 23 - 2008 at 07:43

Marriott expansion plans focus on UAE
Marriott International aims to open a further 15 hotels in the UAE, in addition to the five currently operating, by 2010 confirmed company chairman J.W. Marriott at the Global Travel & Tourism Summit in Dubai. The move is part of the company's global expansion strategy, which includes 40,000 rooms and 150 properties currently in development. The projects also include a flagship development in Egypt and five new properties in Saudi Arabia.
United Arab Emirates: Tuesday, April 22 - 2008 at 11:46

Kingdom Holding sells Monte Carlo hotel
Kingdom Holding, owned by Saudi billionaire Prince Alwaleed bin Talal, said it posted fourth-quarter net profits of 303.8 million riyals ($81.01m) and sold the Monte Carlo Grand Hotel for 150 million riyals ($40m), reported Reuters. Net income in the three months to March 31 rose 5.04% from 289.2 million riyals in the year-earlier period, the company said. Kingdom did not say who bought the hotel, which it had purchased in 2005 with Fairmont Hotels & Resorts and Bank of Scotland Corporate.
United Arab Emirates: Tuesday, April 22 - 2008 at 11:05