According to STR Global's preliminary May 2014 data for the Dubai hotel industry, the market enjoyed positive revenue-per-available-room performance.
According to the April 2014 STR Global Construction Pipeline Report, the Middle East/Africa hotel development pipeline comprises 581 hotels totaling 137,799 rooms.
While demand for Dubai's hotel rooms has been increasing in 2014, and positive revenue-per-available-room has grown, new supply has been outpacing it.
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.
A South African resort company is pushing the bounds of adventure accommodations --and good taste.
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.
A joint venture between Capitas Group International and IFA Hotel Investments aims to develop Yotel brand hotels.
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.
The Ritz-Carlton Hotel Company will open its first property in Israel at the end of 2013.
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.
Golfito Marina Village & Resort Breaks Ground and Begins Construction as Town of Golfito Celebrates 65th Anniversary.
Sign up for World Property Channel updates, information and news alerts