p31 hotel feb6 4/2/09 12:49 Page 31
ttglive.com
hotels news
Dubai ‘lacks only confidence’
Michael Lane in Dubai.
I would not see it being as difficult or dramatic
DUBAI’S hotels are faring well despite the as some of the other markets in the world.”
city feeling the strain in the global economic Mares said that attracting more business
downturn, according to a leading figure in the from neighbouring countries such as Saudi
market. Arabia, Qatar and Kuwait would become a
And one property developer has predicted primary focus for Emaar.
Dubai’s hotels will be the first to recover He added that the group was planning
because investors in the region are lacking only marketing strategies for China and India.
confidence – not funds. Mares, who has recently overseen the launch
Christoph Mares, chief operating officer of of The Address Downtown Burj Dubai (pictured,
Emaar Hospitality Group, a subsidiary of the foreground), remains optimistic about expansion
company constructing the world’s tallest build- plans for the new Address brand (see below).
ing, the Burj Dubai (pictured, in the background),
said: “It’s clear that the Dubai market has been For a review of The Address Downtown,
affected by the global credit crunch. see ttgluxury, out on March 6
“But Dubai has come on from a very high level
of expectation.
A fashionable address Emaar expands luxury hotel brand
“Every year for the past 10 years this city has
seen occupancies in the mid-80s to the mid-90s Emaar Hospitality Group launched its new luxury brand, The Address, in October with the opening of 196-room
– that’s a dream in Europe and the US. The Address Downtown Burj Dubai, and has two more hotels nearing completion. The Address Dubai Mall
“Now it might have to decline into the low-80s (245 rooms) will open in May, while The Address Dubai Marina (200 rooms) opens July 2009. The brand also
or 70s, but it’s still a good business base. signed its first management contract in January, with AAH Group, to run the Jnan Amar Polo Retreat in Morocco.
“So while there is a slowdown expected,
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06.02.2009 31
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