Habtoor Hotels presents 2014 budget plans
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Khalaf Ahmad Al Habtoor was presented the budget for Habtoor Hotels for 2014. Henning Fries, Group Director, Habtoor Hotels presented the projections to the Al Habtoor Group Chairman. Also present was Sultan Al Habtoor, president of Al Habtoor Motors and senior executives of the Al Habtoor Group.
The Group’s hotel arm is expanding aggressively. It is about to open the Waldorf Astoria Dubai Palm Jumeirah, which will come into play early 2014. Henning Fries told the Group the hotels division saw a 12% jump in overall revenue from existing properties, driven by both average rate and occupancy increases.
He said momentum is expected to build even further in 2014. He said: “We are confident about the growth Dubai will experience in 2014 and beyond… We will see double digit increases in more areas, as there continues to be strong demand from established and new markets.”
Fries said, “Our properties outside the region continue to do well and will equally see further positive contributions to the profitability of the Group.”
Al Habtoor added, “Dubai’s economy is very strong, and since our successful bid to host Expo 2020 it will only get stronger. We have to be mobilized and ready to welcome the additional visitors.”
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