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BMI: UAE Tourism Report (Apr-12)

2012-05-08 12:24:00 (читать в оригинале)

Tourism Overview:Although the final data for Dubai, which should be reasonably strong, has yet to be release, the tourism sector in the UAE looks to have achieved another good year in 2011, after a strong recovery in 2010. In Abu Dhabi, complete figures for 2011 show a robust annual increase in the number of tourists (including UAE arrivals) at hotels and hotel apartments of 16.6% year-on-year (y-o-y), to over 2.1mn guests, despite a fall in arrivals y-o-y in August. The outturn was well ahead of the 2mn-guest target set by the authorities. In Sharjah, final data for 2011 show tourist arrivals (including UAE nationals) at hotels and hotel apartments reached over 1.56mn, a slight increase of 0.4% y-o-y. In Dubai, data for January- September 2011 showed a healthy 11% y-o-y increase in hotel guests (including UAE residents) to 6.64mn. There were no more recent figures at the time of writing.Hospitality:Despite incomplete data for Dubai, there was still impressive growth in the hospitality sector in 2011. In Abu Dhabi, the sector recorded a strong performance, with total guest nights increasing by 22% y-o-y to 6.3mn nights. Occupancy levels during the year were up by 7% y-o-y to 69%, while the average length of stay rose by 5% to about three nights. Hotel and hotel apartment revenue was up by a modest 3% y-o-y to around AED4.4bn (US$1.2bn), while the average room rate fell by 14% to AED490 (US$133), which improved competitiveness. Sharjah achieved solid results in terms of the number of hotel and hotel apartment room nights sold during 2011, with a total of over 1.8mn, an increase of over 17% y-o-y. This was presumably due to guests staying longer, as there was little growth in the number of visitors. The overall occupancy rate of hotels and hotel apartments edged up to 74%. In Dubai, there was a 26% y-o-y increase in the number of guest nights at hotels in 9M11 to about 23.7mn.Forecast Scenario:After strong growth in the tourism sector in 2010 and 2011, we maintain t

Limited monetary policy flexibility curbs MENA sovereign credit ratings, says S&P

2012-05-08 12:03:30 (читать в оригинале)

Standard & Poor's Ratings Services rates 13 sovereigns in the Middle East and North Africa (MENA) region, all with high political risks and limited monetary policy flexibility that constrain the sovereign credit ratings.

Ajman Bank posts AED4.5m profit

2012-05-08 11:57:20 (читать в оригинале)

Ajman Bank announced today net profit of AED4.5m for the first quarter of this year, representing a remarkable increase of 154% from the same period in 2011.

27 Dubai schools apply for fee hike

2012-05-08 09:39:59 (читать в оригинале)

A total of 27 schools in Dubai have applied for a fee increase to the Knowledge and Human Development Authority (KHDA), following the announcement of a new fee framework last month.

Dubai hotel room rates hit all-time high

2012-05-08 09:29:01 (читать в оригинале)

Average room rates in Dubai surge 51% in six months to reach a high of AED 1,255 per night.


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