While global attention is focused on the Middle East, the Arab Hotel Investment Conference (AHIC 2011), held in Dubai from April 30 to May 2, identified key issues that are likely to affect the hotel industry in the next few years old.
One of the sections of the conference considered regional and global factors that in the near future will most likely affect the productivity and profitability of the hotel sector and determine which markets will be priority for investors.
According to the moderator of this section, Mark Win-Smith, chief executive officer for European and Middle Eastern regions of Jones Lang LaSalle Hotels (JLL), a significant increase has been noted in the global hotel investment market over the past 12 months. As for the Middle East region, it also began to show some activity in this area, but recent events have made it difficult for investors to make decisions regarding the local real estate market.
In a recent report, JLL predicts that the key trends in the hotel industry in 2011 will be to increase profitability and repositioning of existing hotels. In general, according to JLL forecasts, the hotel business will be one of the most promising sectors of the Dubai economy in the coming years.
