The growth of Dubai and UAE as a whole has had its positive effect on the hospitality industry. This can be witnessed with the recent reports from JW Marriott Marquis Dubai. The hotel announced its first half year results with its inventory grown by 86% since March 2014. The hotel has also been able increase its REVPAR by 7.2% and occupancy by 9.5%. In addition, the hotel has seen occupancies levels in excess of 80% during the first six months of 2014, driven by the growing MICE industry.
Bill Keffer, general manager for the JW Marriott Marquis Dubai said: “The Emirates Group had the foresight to design the JW Marriott Marquis Dubai to meet needs of large MICE groups. The hotel has always been described as a game changer and we are supporting this statement with our ability to win and support bids for large MICE groups coming to country.”
In 2013, the hotel was able to offer 804 rooms with the opening of Tower One. This year, the Second Tower has provided JW Marriott Marquis Dubai with the opportunity to phase in an additional 804 rooms bringing the total inventory to 1608 once fully operational. Given the high number of suites and rooms planned, the Second Tower was released in three phases, with the final block of rooms being opened by the 1 October, 2014. As of June 2014, the JW Marriott Marquis operates 1,500 rooms due to a strong Group base and several large MICE bookings, including one contract for 900 rooms 1800pax.
The Second Tower will see the introduction of a new lounge. The new offering will have a 72nd floor two tier function space. As a result, the hotel is in a unique position to host over 1,000 people.
As per industry statistics, in the GCC, the MICE industry represents 10-12% of the wider tourism sector representing US$2.3 billion of revenues. Dubai generates an impressive US$1.7 bn or 2.1% of the emirates GDP, and tourism generates 20% of GDP and business tourism a 20% of the total tourism market.