Jumeirah is on track with its growth strategy to have 60 hotels in operation or under construction by 2012, according to GERALD LAWLESS, executive chairman, Jumeirah Group.
“Even in this challenging environment, and with most of these projects still under development we expect a market revival by the time they are due to open.”
So far the group has remained relatively unaffected by the economic downturn as 2008 will be a profitable year for Jumeirah, with increased profits over 2007.
“Our occupancy levels have held up well. Our Dubai properties have enjoyed occupancy rates of up to 90 per cent through October and November and they are doing well as we enter the Christmas and New Year period. Business is holding up to that level right up to the middle of January after which we will assess the situation again,” he said.
“We feel that with aggressive promotion and marketing Jumeirah will be able to retain its pre-eminent position in the Dubai hotel market.”
New promotions will be launched by the group to address the reservation period throughout the first half of this year, particularly in the conferences and incentives market.
Lawless said that a high percentage of the group’s business cames from the GCC region, and recently a special discounted rate for UAE citizens and residence visa holders was initiated allowing 15 per cent off the best available room rate in any Jumeirah Hotels & Resorts in the UAE until April 17, 2009.