UK helps boost Jumeirah’s profits
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UK tourists visiting Jumeirah Group’s hotels has helped the firm post a rise in profits and revenue for 2013.
British visitors racked up an extra 26% in revenue at the Dubai-based company’s hotels as its largest source market, representing 16.4% of its room nights sold.
Brits are not only staying in its UAE hotels but are also the top market for its properties in London, Mallorca, Frankfurt, Rome and Istanbul. UK business in the European hotels has grown 12% year-on-year and contributes 18.7% of revenue.
Generally the 2013 results found Russians are spending the most while its business from Australia has gone up following the venture between Qantas and Emirates.
Overall the company has seen its EBITDA improve 8% year-on-year with its revenue increasing the same amount.
Occupancy and average room rates went up 5% with its beach properties seeing room revenue rise 11%.
Its new properties in London (Grosvenor House Apartments), Etihad Towers in Abu Dhabi and the Jumeirah Dhevanafushi in the Maldives are leading the way in performance.
“2013 was a stellar year for Jumeirah Group, a year that concluded the announcement that Dubai would host the World Expo in 2020. We expect this to further enhance the energy that is going into the growth of Dubai as not only a destination for travellers, but also as a home for businesses, entrepreneurs and their families,” said the company’s president and CEO Gerald Lawless. “The first quarter of 2014 has seen that momentum continue with strong occupancy in our hotels, restaurants and other businesses, strong demand for new hotel projects both in the Gulf region and internationally, and strong interest from talented people to choose to build their careers with a proud, Dubai-born brand like Jumeirah.”
Last year the group signed contracts for new hotels in St Petersburg, Russia and two hotels in a coastal resort in Oman near Muscat. Management agreements in the Middle East, Asia, Africa and Europe are expected to be finalised this year, while construction has started on the Madinat Jumeirah resort due to open in early 2016.
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