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Wed 20 Feb 2008 06:59 PM

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Dubai hotel revenues soar

Dubai Hotel revenues up by 15.7% percent.

Hotel revenues in Dubai grew 15.7% to reach AED 12.5 billion (US $3.38 billion) in 2007 - up from AED 10.8 billion ($2.92 billion) in 2006.

Khalid A. Bin Sulayem, director-general of the Department of Tourism and Commerce Marketing (DTCM) confirmed that Dubai's tourism industry was booming.

He said that the tourism sector's direct contribution to Dubai's economy is estimated at around 18%, while indirectly its contribution is nearly 30%.

According to statistics, an all-time record 6.5 million guests stayed in Dubai hotels in 2006 and there was a 6.9% increase in hotel rooms and apartment occupancy during the same year.

Dubai scored a world record when its hotel establishments recorded the highest occupancy and revenues in the month of January 2007, leaving behind Hong Kong, Sydney, Tokyo and London in occupancy levels.

"Dubai already enjoys a high occupancy rate among the world's top tourism destinations. The continuous demand is going to drive the tourism industry even further," said Shujaat Yar, area director for sales and marketing of Starwood Hotels and Resorts.

"The demand is higher than the hotel supplies that are coming in. We are optimistic for 2008 as hotels will deliver similar results," he added.

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