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Dubai Mall remains world’s most-visited destination
Dubai Mall remains world’s most-visited destination Staff Report / 30 January 2014 The Dubai Mall has become the world’s most-visited destination for the third consecutive year, welcoming over 75 million visitors in 2013. Following the impressive footfall of 54 million in 2011 and 65 million in 2012, Emaar Properties’ flagship shopping and entertainment destination recorded a 15 per cent growth in visitor numbers last year. An average monthly footfall stood firm at 6.25 million. “The record visitor arrival to The Dubai Mall in 2013 is a powerful statement that seals Dubai’s reputation globally as a business and leisure hub,” Abdulla Lahej, group chief executive officer of Emaar Properties, said in a statement to Khaleej Times . The mall’s 1,200 plus retail outlets recorded a 26 per cent rise in sales during 2013 compared to the previous year. According to Bain & Co recent report, more than 50 per cent of all luxury goods sold in Dubai were purchased at the mall, with its dedicated Fashion Avenue hosting the world’s largest collection of fashion brands under one roof. The number of visitors significantly surpassed the number of shoppers at the world’s other leading malls such as Mall of America and Bullring Birmingham, UK (40 million each); Intu Trafford Centre, UK (30 million); Part Dieu Lyon, France (29.4 million); and West Edmonton Mall, Canada (28 million). Lahej said the socio-economic impact of the mall on the Emirate’s economy is tremendous, having generated more than 25,000 jobs and consistently driving the growth of the city’s retail, leisure, and hospitality sectors — the core contributors to Dubai’s GDP. “Contributing significantly to Emaar’s recurring revenues, thus adding value to our stakeholders, the mall’s sustained success demonstrates the vision of His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, to create a truly world-class city,” he said Over 40 per cent of the visitors to the mall were tourists, reflecting the tourism demographic trends of the city, with a majority of the overseas visitors coming from Saudi Arabia and other GCC countries, China, India, Russia and Europe. Nasser Rafi, chief executive officer of Emaar Malls Group, said: “The surge in visitor arrivals and the growth in retail sales are indicators not just of the popularity of the mall but also of Dubai as a preferred destination for shopping and luxury lifestyle experiences. Having established Dubai as a global fashion capital, we are now further enhancing the fashion and lifestyle choices at the mall with the expansion of the Fashion Avenue by another one million square feet, which will add 150 new brands to the mall.” Last year, the mall cemented its position as one of the world’s most sought-after high fashion destinations by hosting Vogue Fashion Dubai Experience, the largest fashion event of its kind in the Middle East, in partnership with Vogue Italia. The mall is currently spearheading a global fashion talent scout, to identify and nurture emerging and next-generation fashion designers. — business@khaleejtimes.com For more news from Khaleej Times, follow us on Facebook at facebook.com/khaleejtimes , and on Twitter at @khaleejtimes Continue reading
Dubai hotels excel in profit levels in the region in 2013
Dubai hotels excel in profit levels in the region in 2013 Issac John / 31 January 2014 The emirate plans to double its visitor numbers in seven years. Hotels in Dubai reported the highest profit levels in the region in 2013 for the fourth consecutive year, and ended the year with occupancy above 80 per cent as rates surged, according to the latest HotStats survey of full service four and five star hotels in five Mena markets by TRI Hospitality Consulting Middle East. Data shows that the hotel sector in Dubai and the UAE in general has been on an upswing. — Supplied photo In December, Dubai continued to record strong performance levels reflecting the continued growth experienced throughout the year. Although the market witnessed a 4.5 percentage points decline in occupancy to 79.5 per cent, a 9.1 per cent rise in Average Room Rates (ARR) to $368.22 drove Revenue Per Available Room (RevPAR) growth of 3.2 per cent to $292.70, the report said. Data compiled by STR Global also shows that hotel sector in Dubai and the UAE in general has been on an upswing. With Expo 2020 in the offing, Dubai plans to double its visitor numbers from 10 million to 20 million in seven years. Philip Wooller, area director of Middle East and Africa for STR Global, said it would be a fascinating journey for Dubai. Announcements will soon be released for all the new projects in the run up to the event, Wooller said. “The numbers alone suggest the hotel supply will need to nearly double from the existing 68,000 rooms to 120,000 rooms.” In December, the Middle East/Africa region reported positive results with a 3.0 per cent increase in occupancy to 59.5 per cent, a 4.2-per cent increase in average daily rate to $180.65 and a 7.3-per cent increase in revenue per available room to $107.44. According to HotStats, average rates and RevPAR for Dubai hotels in December exceeded levels witnessed throughout the year and helped push year to date figures up 6.5 per cent and 7.6 per cent, respectively. Bottom line performance levels in December were boosted by a 2.8 per cent rise in Total Revenue Per Available Room (TRevPAR), which was driven by increased MICE revenues and coupled with lower operating costs. Gross Operating Profit Per Available Room (GOPPAR) for the month increased 3.9 per cent to $260.00 and helped drive year to date figures up 10.3 percent to $206.05, the report said. Peter Goddard, Managing Director of TRI Hospitality Consulting, said occupancy levels in December 2013 were marginally lower than December 2012, which is attributed to an increase in supply compared to the same period last year; however average rates were maintained by the minimum stay agreements imposed by hotels during the festive season. “A combination of stable demand and increased confidence in the market resulted in hoteliers applying more aggressive yielding strategies which resulted in average rates rising 6.5 per cent to $324.44 in 2013,” said Goddard. Jeddah witnessed growth in all key performance indicators for the month of December as corporate demand surged in the city. The combined effects of a 5.2 percentage point rise in occupancy to 73.3 per cent coupled with a 1.9 per cent increase in ARR drove RevPAR up 9.7 per cent to $171.05 in Jeddah Doha hotels experience stronger demand, however rates and profits continue to fall. “Doha Hotels continued to struggle to elevate key performance indicators which remained under pressure during December, despite a 3.1 percentage point rise in occupancy to 63.3 per cent. On-going rate reductions resulting from high levels of competition fuelled a 20.8 per cent decline in ARR to $226.99 which in turn, drove RevPAR down 16.8 per cent to $143.71,” the report said. — issacjohn@khaleejtimes.com For more news from Khaleej Times, follow us on Facebook at facebook.com/khaleejtimes , and on Twitter at @khaleejtimes Continue reading
Syria peace talks take tentative step forward
Syria peace talks take tentative step forward (Reuters) / 29 January 2014 Both sides agree to use the Geneva communique as the basis of discussions, though they disagree about how the negotiations should proceed. Talks aimed at ending the war in Syria took a first tentative step forward on Wednesday as both sides agreed to use the same document as the basis of discussions, although they disagreed about how the negotiations should proceed. Louay Safi, spokesperson for the Syrian National Coalition, answers journalists’ questions at the United Nations headquarters in Geneva. -AP Both sides said they agreed to use the “Geneva communique”, a document agreed at a previous international conference in Geneva in June 2012, and which sets out the stages needed for an end to the fighting and a political transition. “We have agreed that Geneva 1 is the basis of the talks,” opposition spokesman Louay Al Safi told reporters, referring to the 2012 communique. Bouthaina Shaaban, a Syrian presidential adviser, said there was agreement on using the text, but with some reservations. While the opposition wants to start by addressing the question of the transitional governing body that the talks aim to create, the government insists that the first step is to discuss “terrorism”, and not jump into the middle of the text. The government describes those fighting to overthrow President Bashar Al Assad as terrorists. The opposition says transitional arrangements must include the removal of Assad, which the government rejects. Despite the differing interpretations of Geneva 1, organisers of the talks at United Nations headquarters in Geneva have been at pains to keep the process going and dissuade either of the sides from walking out. Syrian state television said the government wanted to discuss the text of Geneva 1 “paragraph by paragraph”. “Mr Brahimi said tomorrow they are going to discuss terrorism because stopping terrorism is the first issue that should be handled,” Shaaban said. “Even in Geneva 1 the first item is to stop violence which has turned to terrorism.” There was no immediate confirmation from international mediator Lakhdar Brahimi, who is chairing the talks. On Tuesday he said both sides were talking to the media too much and should respect the confidentiality of the talks and not overstate their case. For more news from Khaleej Times, follow us on Facebook at facebook.com/khaleejtimes , and on Twitter at @khaleejtimes Continue reading
