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Hospitality has a unique place in the Dubai economy as a safe investment option. If you invest wisely, you can get the maximum profit from the booming hospitality industry, especially from beachfront hotels.
Expo 2020 focuses more on the improvement of hospitality sector, which is a positive news for hotel investors. The UAE is among the top five countries for new hotel openings over the past six years.
There are many more reasons to consider investing in the UAE hospitality sector. Once you have the ownership,you can sell your hotel unit for capital gains. If you purchase an already furnished and serviced hotel, you can expect more profit without delay.
Attractive return on investment motivates not only new investors, but also hotel operators with established brands. Dubai offers property investors to have a locally tax-free hotel investment environment.
According to the tourism vision for 2020 of The Dubai Department of Tourism and Commerce Marketing (DTCM), the expectation is 20 million tourists a year. This ensures a safe investment option for those who are interested in the hospitality sector of the UAE.
The constant demand for hotel rooms, wide range of customers and the liquidity of assets are the main features that attract investors. Expansion in the medical and healthcare tourism also contributes to this.
The average hotel occupancy rate is increasing each year and the high growth in the rate of airport arrivals and tourist visits reflected in better hotel performances. This promises a good return from the untapped areas of the economy.
Before investing, do a thorough study about the revenue sources. Investing in hospitality supplies is also a good idea. Consulting a real estate company is helpful in managing the aspect of your property investment. They will also do the needed legal paperwork, marketing and leasing.
• Medical, healthcare tourism expansion are attracting investors
• Hospitality is a booming industry which provides maximum ROI
• Airport arrivals, tourist visits make it a safe investment option
Source: Asha Das, Special to Properties
The writer is a freelancer