It’s a strategy that’s largely paid off. In 2007, hotels in the emirate boasted an average room rate of $308. The next highest location was New York City, with a rate of $275. Dubai’s hospitality sector has always argued in unison – until now, that is – that the super-rich consumer’s lodging
habits are less affected by the ebbs and flows of the economy than those of the average traveler and that the luxury hotel market, therefore, is far less volatile.
A new study points to the fact that the latest wrinkles in the world economy have taken their largest toll on the high-end of the lodging market, however.
Declining occupancy levels put Dubai’s strategy of being solely reliant on superluxury
into question. Hoteliers like Ritter are now in the pole position.

   Email This Post      Print This Post       Previous