Hospitality has more room for growth, says Nakheel's CEO

The rise in tourism numbers and significant strides achieved in airport infrastructure are among the catalysts that will sustain the growth of the hospitality sector, according to Sanjay Manchanda, CEO of Nakheel. Speaking at the recent The Hotel Show Dubai's 3rd Annual Vision Conference, Manchanda said his company aims to lead the hospitality drive in the emirate.

''Nakheel is spearheading the massive development under way in Dubai. Hospitality is an industry that cannot be ignored, contributing to 7.1 per cent of Dubai's GDP and with 96,000 rooms forecast to be in the market by 2018,'' said Manchanda, whose presentation titled Shaping the face of the Retail and Hospitality landscape in Dubai covered the future of hospitality and leisure development in the emirate. ''Guest numbers have increased by 42 per cent over the past five years, while Emirates Airline has done an excellent job in helping Dubai International Airport to become the busiest in the world.''

Nakheel has 10 hotels planned for Dubai over the next five years. The company is also bringing a wide range of new retail projects to the emirate.

''Dubai is now an international city on the world stage, yet it only started developing 25 years ago,'' said Manchanda. ''It now contains 8 per cent of the world's high-rise buildings. To put this in context, the average age of high-rise buildings in Manhattan's famous skyline is 37, compared to those in Dubai at eight-years old.

''As a Dubai-based master developer behind some of the largest, best-known developments in the world, we are uniquely positioned to bring a range of unique, innovative new concepts that will further enhance Dubai's hospitality offering.''

The Hotel Show was held recently at the Dubai World Trade Centre with more than 18,000 attendees.

Read more on Hoteliers looking beyond market blip

Source: Property Weekly


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