Nakheel, one of Dubai's leading developers and a poster child for the debt crisis in 2009, expects to have nine hotel projects under development by 2016. The developer plans four new hotels on Deira Island.
A property developer has started work on a large resort complex, the first big project to start in the man-made archipelago off Dubai's coast. Kleindienst, a Dubai-based international developer, will begin work on the "Heart of Europe" project.
Global airline passenger travel is expected to grow by five percent annually until 2017, with the Middle East and Asia-Pacific leading international passenger growth, according an industry forecast from the International Air Transport Association.
A unit of the state-owned group Dubai World has sold its Atlantis resort to Investment Corp of Dubai, also state-owned, to raise funds for repayments after a $25 billion restructuring plan was created two years ago.
The Middle East/Africa region had the highest average revenue per available room at $120.88 in October.
Luxury hotels in Qatar reported increases in occupancy and revenue in the third quarter, despite an increase in supply.
Dubai is planning to give developers of mid-market hotels a financial incentive to build more affordable hotels in the emirate, which is best known for its luxury resorts. New hotel investors will be granted a fee waiver for four years.
The Europe-based luxury hotel group, is planning to expand its portfolio of luxury hotels in Africa.
An investment arm of the Dubai government is selling its 50 percent stake in the Fontainebleau, the landmark Miami Beach hotel, Reuters reports. The buyer is Turnberry Ltd., the South Florida developer controlled by the Soffer family.
An UAE developer has purchased a 91,000-square-meter land plot on Abu Dhabi's Saadiyat island and plans to build a luxury resort on the site. The complex will include 366 rooms, luxury villas and a conference facility for 800 guests.
Arizona-based Best Western International has opened its first property in the Saudi Arabian holy city of Mecca.
One of the more dramatic hotel proposals in the U.A.E. is one step closer to becoming a reality. The design for 39-story Fairmont Abu Dhabi calls for an Arabian-themed hotel complex built around a giant arch.
Wyndham Hotel Group has announced its entry into Iraq with the opening of the Ramada Sulaymaniyah Salim Street in Kurdistan. The hotel features 58 rooms, 13 suites, 728-square-meter theater-style ballroom, a 144-square-meter indoor pool and a whirlpool.
Hotel investment volumes in Europe, Middle East and Africa increased 38 percent during the first half of 2013 compared to last year, mostly driven by a major increase in Middle Eastern capital.
Wyndham Hotel Group recently announced plans to enter the U.A.E. with its first property in Dubai.
Wyndham Worldwide Corporation has announced plans to enter the United Arab Emirates with its first property in Dubai. The hotel group signed an agreement with Sigma III Limited, a subsidiary of British developer The First Group.
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