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Thu 3 May 2007 12:18 PM

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Property's profits soar in hit debut

Dubai's Grosvenor House rejoices after 'phenomenal financial growth' in the hotel's first year.

Grosvenor House is running US $9 million ahead of budget after its ‘phenomenal' first year, its general manager has revealed.

"Year zero is always a gamble in the hotel industry. This is the time when you have to convince people you can fulfil the promises made at the time of launch," said Pam Wilby.

Dining concepts including Mezzanine and Indego have proved to be key vehicles for financial growth throughout the year.

Wilby said the luxury property's ‘outstanding achievement' has positioned it ahead of its "better established competitors, many of who have been operating in this area for some time."

Consistently high levels of service and investment in staff have also been noted as central factors to Grosvenor House's monetary triumph.

"We proved we are here to stay and we have raised the bar of luxury and we are running $9million ahead of budget," Wilby added.

Wilby highlighted that the property, which currently boasts occupancy rates of 94%, places a solid focus on staff training and development through in-house rewards.

High numbers of repeat guests have also pushed up turnover at the property, located at West Marina Beach in the city.

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