THE 2014 edition of the Arabian Hotel Investment Conference (AHIC) will take place from May 4 to 5 at Madinat Jumeirah in Dubai, UAE.
DUBAI’S EVOLUTION
Now in its 10th edition, this year’s conference will focus on the evolution of Dubai, which will be holding the World Expo in 2020. Hotels across Dubai recorded an impressive occupancy rate of 80 per cent in 2013, even with an influx of almost 3,000 new rooms in the hospitality market. Dubai’s hotels welcomed more than 11 million guests in 2013, an increase of just over one million on the 2012 numbers and an indication that Dubai is on the way to achieving its target of 20 million visitors a year by 2020. According to Dubai’s Department of Tourism and Commerce Marketing (DTCM) statistics, revenues for hoteliers and hotel apartment operators saw significant growth with total revenues up by 16.1 per cent reaching Dh1.84 billion ($501 million) for 2013.
SUCCESS IN MID-MARKET HOTELS
Another hot topic is mid-market hotels. The session ‘Succeeding in the extended stay and serviced apartment segment’ discusses the dynamics behind driving the demand for this segment and the state of the current stock in the region. Dubai has the largest concentration of serviced apartments in the UAE, which currently account for 66 per cent of the total serviced apartment supply. The majority of forthcoming serviced apartment supply in the UAE is expected to come to market in Dubai, in which there will be a 23 per cent expansion of serviced apartment supply over the next five years. AHIC 2014 will be hosting two networking receptions for its attendees this year, with an opening gala reception on May 4 hosted by Jumeirah Group at Zero Gravity, Dubai’s newest entertainment venue, and another networking reception on May 5 hosted by Al Habtoor Hotels at The Waldorf Astoria The Palm.