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Wednesday, 6 May 2009

Rotana loses 25% profit, occupancy, rates in Dubai

Dubai’s Rotana hotels have lost 25 percent in profit, occupancy and rates in the last year, the vice executive chairman of the hotel group revealed on Tuesday to Arabian Business.

Imad Elias, admitted that hotel rates had risen too high in the emirate as result of “arrogance” among hoteliers, and it was now time for them to fall again to a more competitive level.

According to Hotels.com Hotel Price Index, Dubai hotels were the second most expensive in the world, after Moscow, in the fourth quarter of last year - the average price of a room was listed at AED953 ($260).

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