The spectacular 1,614-room JW Marriott Marquis Hotel Dubai is set to become one of the region's most desirable destinations, offering a spectrum of business facilities for discerning travelers. Opening in 2012, its first 807 rooms will soar above Dubai's business district, on Sheikh Zayed Road, and will reside in the city's Business Bay area. Carrying a title bestowed only on the finest properties in the Marriott portfolio, the JW Marriott Marquis Hotel Dubai will encompass two iconic towers and will feature an enticing array of 13 distinctive restaurants, bars and lounges; a luxurious Saray Spa; 4,015 square meters of conference and event space including two ballrooms and 22 breakout rooms; exclusive executive floors and six Presidential suites.
The Marriott International portfolio in the Middle East & Africa currently consists of 31 hotels and resorts in nine countries representing six lodging brands and offering 8,822 rooms.
According to the Baird/STR Hotel Stock Index, November ended with a 2.7-percent decrease to 1,951 and is down 17.5 percent year-to-date 2011. The index ended 2010 at 2,364. Robert W. Baird & Co. (Baird) and STR partnered to create the Baird/STR Hotel Stock Index-the first widely available U.S. hotel stock index in the hotel industry.
According to STR, the U.S. hotel industry experienced increases in all three key performance metrics during the first week of December. In year-over-year comparisons for the week, occupancy rose 2.7 percent to 51.0 percent, average daily rate increased 2.7 percent to US$99.42 and revenue per available room finished the week with an increase of 5.4 percent to US$50.71.
According to a report from STR Global and Whitebridge Hospitality, London's hotel profitability has been challenged in recent years due to the combination of new supply and the macroeconomic environment. During the 11-year period, the gap between the regions and London in terms of gross operating profit performance per available room increased.
(MIAMI BEACH, FL) -- As the world's art aficionados, celebrities and super wealthy converge on the shores of South Beach this week to celebrate the tenth anniversary of Art Basel Miami Beach, the real celebrating should be done by the business proprietors in the local economy who will enjoy a multi-hundred million dollar economic windfall left in their wake.
The Kingdom of Bahrain has signaled new optimism in the nation's employment and real estate sectors with the recent confirmation of construction work on the Four Seasons Hotel situated at Bahrain Bay - the country's highest-profile, master-planned $2.5 billion waterfront community.
Based on new hotel data compiled by STR Global, hotel markets across the world reported mostly positive performance gains in October 2011. The Americas region recorded positive results in the three key performance metrics when reported in U.S. dollars for October 2011.