More than 276 hotels and hotel apartments are located within 2km of one of five mega shopping malls in Dubai.
This is the result of a market research conducted by Reed Travel Exhibitions the organiser of Arabian Travel Market 2013 (ATM) which takes place at Dubai World Trade Centre on 6-9 May 2013.
Mark Walsh, Portfolio Director at Reed Travel Exhibitions said, “Five of the leading shopping malls in Dubai were identified and ATM researched the number of hotel and hotel apartments within a two kilometre radius of each of them, or in other words a five-minute taxi ride.”
According to Alpen Capital, retail sales in the Gulf region will hit US$270 billion in 2016, which it puts down in part to an expanding tourism and hospitality industry. Nowhere is that more evident than in Dubai, which is home to five of the region’s largest shopping malls, namely Dubai Mall, (the region’s largest), Mall of the Emirates, Al Ghurair Centre, Burjuman Centre, and Deira City Centre.
Of the 387 hotels and 188 hotel apartments registered by the Dubai Government Department of Tourism and Commerce Marketing (DTCM) at the end of 2011, 48% were within 2km of one of these five shopping malls. Proving just how well developed the relationship between retail and hospitality has become.
“Since the end of the Dubai property boom, real estate has gradually begun to recover, but hotel trading performances have been more impressive. According to Alpen Capital estimates, hotels in Dubai averaged 80%, occupancy during 2012, with US$228 revenue per available room (RevPAR) one of the highest in the world,” said Walsh.Arabian Travel Market 2013 will be held at the Dubai International Convention & Exhibition Centre from 6-9 May 2013.