DAMAC Chairman sees innovation as catalyst for sector growth in the run up to EXPO 2020
Just days ahead of the highly anticipated Arabian Travel Market, being held 22 – 25 April 2018 in Dubai, Hussain Sajwani, Chairman of DAMAC, shared insights on Dubai’s hospitality sector and the importance of innovation in paving the road ahead for one of the world’s top holiday and business destinations.
DAMAC Hotels & Resorts will be present at Arabian Travel Market 2018, which is the leading global event for the Middle East inbound and outbound travel industry for the last 25 years. The event generates more than $2.5 billion of travel industry deals.
“Today, Dubai is one of the most visited cities in the world and as it gears up to welcome over 20 million visitors leading up to Dubai Expo 2020, the industry has completely shifted gears with more than 29,000 hotel rooms in 95 projects currently at different stages of construction. For DAMAC Hotels & Resorts, this presents a significant opportunity to go beyond the current 13,000 keys being developed, and to reach 15,000 keys by 2021. The best is yet to come for Dubai’s hospitality sector,” said Sajwani.
“The most interesting aspect of Dubai’s hospitality sector is that one size does not fit all. While measurable sector growth is calculated in terms of room volumes and revenue, travelers finding unique destination experiences are what define long-term success in any market,” Sajwani added. “Dubai and the UAE have successfully found a formula to consistently deliver unique experiences for tourists, and the numbers verify this as well - Dubai visitors occupied 29.2 million room nights last year, up more than one million from the year before.”
“Dubai is also a preferred destination for visitors from neighboring countries like Saudi Arabia, Kuwait, Oman and Bahrain, who prefer Sharia-compliant amenities. DAMAC responded by introducing the Ghalia brand, offering the first certified Sharia-compliant luxury hotel apartments. By constantly creating innovative offerings and experiences, DAMAC continues to attract investors and end-users for its hospitality products.
Under the Dubai Tourism Vision for 2020, a strategic roadmap developed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates, and Ruler of Dubai, the city is aggressively working towards increasing visitor growth by developing regulatory policy, infrastructure, and product offering. With numerous attractions and activities on offer, Dubai has become a top destination for all segments of travelers, from those looking for business or leisure to visitors looking for adventure.