Emaar Hospitality achieves 7% revenue rise in 2013

Emaar Hospitality has posted revenues of AED 771 million (US$ 210 million) during the first six months of 2013, a seven percent increase on the same period in 2012.

The Dubai based hotel group’s early year performance has been helped by The Address Hotels + Resorts brand recording an average occupancy of 90 percent so far in 2013. Emaar hospitality has also strengthened its existing portfolio of 13 hotels and 2,000 rooms with the introduction of the Vida Hotels and Resorts and the Dubai Inn hotel brands.

Mohamed Alabbar, Chairman of Emaar Properties, said: “Our significant growth in the first half of the year is a strong reflection of the positive environment that our home market of Dubai offers by serving as a global business and leisure hub. We draw on the dynamism of the city, led by the vision of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, to further reiterate our world-class competencies in our three core business segments of property development, hospitality and shopping malls.”

“The remarkable gains made by these three core businesses also underscore Emaar’s contribution to the socio-economic growth of Dubai by catalysing the key economic sectors including retail, hospitality, tourism and construction. In addition to supporting Dubai’s Tourism Vision 2020 to double the number of tourists by the turn of the decade, our investments also set the pace for the city’s future growth,” added Alabbar.

Emaar Hospitality’s parent group, Emaar Properties, also recorded revenues of AED 5.219 billion ($ 1.421 billion) so far in 2013, a 33 percent increase on the same period in 2012.