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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
United Nations fails to break Syria talks deadlock
United Nations fails to break Syria talks deadlock (AFP) / 29 January 2014 Opposition says UN mediator Lakhdar Brahimi had adjourned the meeting because the regime is not cooperating on any subject. The UN failed to break a deadlock at Syrian peace talks in Geneva on Tuesday, with negotiations interrupted after President Bashar Al Assad’s regime pushed for a statement condemning the United States. After announcing the start of a fourth day of talks with a morning session around 11am (1000 GMT), the UN said in a terse statement later that “no meeting has been planned for this afternoon”. A member of the opposition negotiating team, Rima Fleihan, said that UN mediator Lakhdar Brahimi had adjourned the meeting “because the regime is not cooperating on any subject, not on humanitarian issues and not on a transitional governing body.” She said the opposition had presented a preliminary transition plan laying out its “vision” for Syria, but the regime refused to engage in talks. “We have a vision, unfortunately the regime presented nothing and refused all discussion,” Fleihan said, adding that the next session was planned for Wednesday morning. Tuesday morning’s session saw regime delegates present a statement condemning Washington, which it wanted adopted by participants. The statement said “the United States has made a decision to resume arming terrorist groups in Syria.” “This decision can only be understood as a direct attempt to obstruct any political solution in Syria through dialogue,” it said. It follows a report from the Reuters news agency that the US Congress secretly approved funding for weapons deliveries to “moderate” Syrian rebel factions. Syrian Deputy Foreign Minister Faisal Muqdad said that showed Washington “is not interested in the success” of the peace process. He accused the opposition of obstructing talks by refusing to adopt the regime statement. “The other party said they don’t agree… and that they support the United States’ steps to arm terrorist groups,” he said. Delegates from the regime and the opposition National Coalition have been brought together in the biggest diplomatic push yet to end a civil war that has left more than 130,000 dead and forced millions from their homes. The talks hit an impasse on Monday when discussions started on political issues, including the transfer of power to a transitional government. Brahimi had said Tuesday’s talks would focus on the Geneva communique, the text agreed by world powers in 2012 that calls for the creation of a transitional governing body in Syria. He said he also hoped for concrete steps on humanitarian aid, especially for besieged and starving families in rebel-held areas in the central city of Homs. Brahimi admitted on Monday that the talks so far “haven’t produced much”, but said just getting the two sides to sit in the same room was a step forward. Expectations are low for a breakthrough, especially after the two sides failed to agree on even the basic principles of political talks on Monday. Despite their frustration, each side vowed it would not be the first to walk away from the talks, which are expected to last until Friday. In the only tangible promise to emerge from the meetings so far, Brahimi said on Sunday the regime had agreed to allow women and children safe passage from besieged rebel-held areas of Homs. But there has been no movement since, on either an evacuation or opposition demands that aid convoys be allowed in the areas. The Old City of Homs has been under siege since June 2012 after rebels there rose against the regime, with an estimated 500 families living with near-daily shelling and the barest of supplies. UN bodies and the International Committee of the Red Cross have said they are on standby with aid but are waiting for approval to move in. Activists in Homs on Tuesday urged opposition figures at the talks to push for the lifting of the 600-day siege. “We need the siege lifted and to ensure that residents can enter and exit through safe corridors, without passing through regime checkpoints,” the activists said in a statement. Should the siege remain in place, “all solutions will be futile, and will do nothing to end this tragedy,” they said. For more news from Khaleej Times, follow us on Facebook at facebook.com/khaleejtimes , and on Twitter at @khaleejtimes Continue reading
