The Next Wave in GCC Hospitality
In the June edition of Gulf Business, Mr. Welf Ebeling, EVP and COO of the “Leading Hotels of the World” indicated that while the number of 5 star hotels in Dubai is exploding, the next wave to follow is budget hotels.
At the same time, EMAAR group has founded an affordable housing unit for lower-income individuals through its expected purchase of a “social housing” company. The group plans to operate throughout the Middle East and South East Asia.
These developments seem to illustrate an emerging trend, while certainly not at critical mass level, moving toward budget properties and tourism. As it currently stands, the number of 5 star hotels in Dubai is large, unlike that of budget hotels. Budget hotels and housing is likely to cater to the huge demand for tourists and workers who wish to be part of the Dubai experience...but at a reasonable cost.
At the same time, EMAAR group has founded an affordable housing unit for lower-income individuals through its expected purchase of a “social housing” company. The group plans to operate throughout the Middle East and South East Asia.
These developments seem to illustrate an emerging trend, while certainly not at critical mass level, moving toward budget properties and tourism. As it currently stands, the number of 5 star hotels in Dubai is large, unlike that of budget hotels. Budget hotels and housing is likely to cater to the huge demand for tourists and workers who wish to be part of the Dubai experience...but at a reasonable cost.
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