UAE hotel investment to continue, local companies at the forefront


International hotel chains lack the expertise and local knowledge that local hotel management companies can offer in the United Arab Emirates, reports Al Bawaba.

According to a regional tourism expert, investors in the Arab region should not just go by big names when selecting a hotel management company, but should instead look at a company’s capabilities and their hotel management record.

Managing Director of B6 Catering Youssef E. Jammal said that local companies have started to compete with international players due to their specialised local knowledge and human resource skills, and not only in the UAE, but in Europe and the US as well.

And this trend is set to continue, with investment in the UAE’s hotel sector maintaining momentum despite the effects of the economic downturn.

Investors have started to look more towards hotels rather than real estate in the region, as the area’s existing infrastructure and hospitality services means investment into the sector carries with it less risk, but can still be very profitable.

“[The] hotel industry in the Gulf is a magnet for international and regional investors despite [the] global financial crisis,” Jammal said.

“International companies are increasing the number of rooms and more hotel properties are still set to open in 2010.”

Jammal added that tourism form India and China, and in particular tourism from the Gulf region itself, is boosting the occupancy rates of hotels in the UAE this year.
Source = e-Travel Blackboard: S.F
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