Weak rupee dents Dubai tourism - The National:
"Dubai hotels are reporting cancellation rates of up to 25 per cent as tour operators organising package trips for Indians to the UAE grapple with the weak rupee.
"It's the tour agencies that are taking the hit - lots are cancelling their packages," said Russel Sharpe, the chief operating officer of the hotel division at Landmark Hospitality, which operates two Citymax properties in Dubai. "We have had a 25 per cent reduction in group business."
The rupee has lost about a third of its value against the US dollar in the past two years - and its decline has accelerated since the start of May, with the currency reaching a record low of 68.825 yesterday."
'via Blog this'
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