Investors eye UAE prospects as hotel revenues soar

UAE spends heavily on transport infrastructure to support tourism sector - GDP contribution set to reach US$19.9 billion this year Top industry executives and officials will head to the annual Arabian Hotel Investment Conference 2012 (AHIC), which takes place in Dubai on 28-30 April at Madinat Jumeirah, to discuss investment opportunities in the Gulf where governments are ploughing billions of dollars into tourism infrastructure. Flush with petrodollars, with oil prices consistently above $120 a barrel, the United Arab Emirates, Saudi Arabia and Qatar have all embarked on aggressive hotel and transport development programmes as they seek to diversify their economies away from oil and boost revenues from the tourism sector. In the United Arab Emirates, the direct contribution of travel and tourism to GDP is expected to hit $19.9 billion this year, or 6.1%, compared with US$16.6 billion, or 6.6%, in 2009, according to the World Travel & Tourism Council. “Hotel revenues in the UAE are growing steadily despite the economic and financial uncertainties in Europe. GCC governments are cash rich and we see the UAE as a key hotel investment destination,” commented Chiheb Ben-Mahmoud, Executive Vice President and Head of Hotel Advisory, Middle East & Africa, at Jones Lang LaSalle Hotels. Some of the Gulf state’s major tourism infrastructure investments include the US$8 billion expansion of Dubai International Airport, as the emirate seeks to increase its capacity from 60 million passengers to 90 million by 2018 to become the world’s busiest airport. Complimenting its airport expansion, Dubai added a second metro line last year to connect the city east to west and is scheduled to open a tramline in 2014. Meanwhile Abu Dhabi’s national carrier Etihad Airways continues to expand aggressively as the UAE capital continues to build its reputation as a tourist hub developing projects such as Ferrari World, an amusement park on Yas Island, and Saadiyat Island, home to the planned Louvre and Guggenheim museums. Held under the patronage of HH Sheikh Ahmed Bin Saeed Al Maktoum, President Dubai Civil Aviation Authority, Chairman Dubai Airports and Chairman and Chief Executive, Emirates Airline & Group, organiser MEED Events in partnership with Bench Events has put together a three-day programme designed to explore the outlook for hotel investment in the Middle East’s changing landscape. As well as focusing on the Middle East’s investment landscape after the Arab Spring, AHIC will hold a session that looks at the issues facing Egypt, while key industry figures will address the challenges of developing and operating in the holy cities of Mecca and Medina in Saudi Arabia. There will also be a separate dedicated session exploring investment opportunities outside the Middle East. For more information on the Arabian Hotel Investment Conference: www.arabianconference.com - Ends - Photo caption: Chiheb Ben-Mahmoud, Executive Vice President and Head of Hotel Advisory, Middle East & Africa at Jones Lang LaSalle Hotels To pre-register as media please follow the link: http://www.arabianconference.com/index.php/forms/media_registration Notes to the editor The confirmed list of speakers includes: Mark Wynne-Smith, Global CEO, Jones Lang LaSalle Hotels; Alex Kyriakidis, President & Managing Director MEA, Marriott International; Rudi Jagersbacher, President, Middle East & Africa, Hilton Worldwide; Jan Smits, CEO, Asia, Middle East & Africa, IHG; Bashar Al Natoor, Director, Corporates, Fitch Ratings; Iyad Duwaji, CEO, West Asia Capital; Fergal Harris, Head of Real Estate Middle East, Standard & Chartered; Olivier Ebner, Senior Manager at Project and Structured Finance, National Bank of Abu Dhabi; Alexis Waller, Partner Clyde & Co; Olivier Granet, Director of Development, ACCOR Middle East; Kurt Ritter, CEO & President, The Rezidor Hotel Group; Bassel S.Hamwi, Chief Executive Officer, Bank Audi Syria; Lo’ai B. Bataineh, DGM, Investment & Development, Head of Investment Management Group, Oman Arab Bank SAOC; Nilay Orzral, Director of Real Estate Operations, Aldar Properties PJSC; Sanjay Tanna, Director – Business Development and Investments, Abu Dhabi National Exhibitions Company. About MEED Events MEED's comprehensive portfolio of events has been developed over the last decade to cover the region's key business issues and sectors. From large-scale summits and conferences to unique one-to-one networking opportunities, MEED Events provide high-profile speakers, relevant and critical business content and the latest news from across the GCC. About Bench Events Bench Events is one of the founders and organisers of several leading conferences for the hotel investment industry including the International Hotel Investment Forum (IHIF), the Arabian Hotel Investment Conference (AHIC), Central Asia and Turkey Hotel Investment Conference (CATHIC), the Russia & CIS Hotel Investment Conference (RHIC) and the Africa Hotel Investment Forum (AHIF) About the Arabian Hotel Investment Conference AHIC attracts over 500 industry leaders annually from over 40 countries, including many of the most influential names within the Middle East’s hotel investment community, as both speakers and attendees. Details of AHIC can be found on www.arabianconference.com Platinum sponsors: The Carlson Rezidor Hotel Group, IHG, Jumeirah Group, Wyndham Worldwide. Emerald sponsors: Corinthia Hotels, Hilton Worldwide, Jebel Ali International Hotels, Moroccan Agency for Tourism Development (SMIT) Starwood Hotels and Resorts Worldwide. Gold sponsors: Accor, AECOM Design & Planning, Argentina National Institute of Tourism Promotion, Clyde & Co, Fairmont Raffles Hotels International, Fonatur, Golden Tulip Hotels, Suites & Resorts MENA, Horwath HTL, Hyatt International, IFA Hotel Investments, Jones Lang LaSalle Hotels, Marriott International, MENA Hotels and Resorts, Orient-Express Hotels, Premier Inn MEA, Ras Al Khaimah Tourism Investments and Development Authority, Rixos Hotels, STR Global, Turnkey Ventures, WATG.

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