Middle Eastern and North African Hoteliers Look to the UK for Growth
In a report released today (2 May 2010) by international law firm DLA Piper on the first day of the 2010 Arabian Hotel Investment Conference (AHIC) in Dubai, it is revealed that the UK has been identified as a key target for investment opportunities by hotel financiers in the Middle East and North Africa (MENA) region. This follows a difficult year, when average room rates in the region were discounted by up to 60%.
The survey of hoteliers in the MENA region was commissioned by DLA Piper’s international Hospitality & Leisure Sector Group and explored the issues and challenges facing the sector as the economic landscape heads into recovery. The survey found that more than three quarters (76%) of the region’s respondents feels ‘bullish’ about the year ahead, with the majority seeking wider investment and development opportunities in the wake of the global recession.
