AS THE Arabian Hotel Investment Conference gets ready for its 2011 edition, TTN spoke to JONATHAN WORSLEY of organiser Bench Events about how the region’s recent upheavals will affect the proceedings.
In light of the recent unrest across the region, I understand you will be addressing issues other than those originally intended, will there still be some of the original speaker and discussion sessions?
Everything currently in the programme will remain in the programme, we will just build on it to explore the implications of recent change in the region. It is more the direction of discussions which will be altered, all of the speakers and topics are still very relevant.
The ‘Emerging Markets’ session for example will, naturally, be a different discussion to what was originally planned. Markets such as the UAE and Saudi Arabia have been largely unaffected by the riots and we are seeing the Egyptian market begin to bounce back already.
If so which will these be?
I think that the ‘AHIC Pipeline Update’ will be more crucial than ever and by May we will have greater clarity on which projects have been put on hold or affected. Also, it will be very interesting to hear from industry leaders on how their development strategies for the region have been refocused.
What is the general feeling you are getting from those attending as to how investment in the region is likely to be affected?
It is early days but with change comes opportunity. Investors I am speaking to are anticipating that markets will open up making it easier to invest in areas which previously were challenging business environments.
Will areas of the region which have not yet suffered unrest be looking at increased investment because of ongoing uncertainty?
There is no doubt that investment has come to a complete stop in those countries affected by the unrest and investors will be looking to countries with a greater degree of stability. The UAE will benefit in the short term.
Anything else pertinent you would like to add?
In the light of changes in the region, I think that AHIC is particularly well timed to provide a platform for the industry to learn from each other what the recent changes mean for the investment community. I’m cautiously optimistic that the unrest will settle down and reforms will take place offering greater investment opportunities.