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Arabian Hotel Investment Conference (AHIC 2011) Advisory Board Meeting
Discusses The Future of the MENA Hotel Industry
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News for the Hospitality Executive |
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Arabian Hotel Investment Conference (AHIC 2011) Advisory Board Meeting
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 UAE, Monday 3rd October 2010 - The Arabian Hotel Investment Conference (AHIC 2011) Advisory Board, comprised of over 40 of the most influential names in the Middle East hospitality industry, gathered today at the Emirates Academy of Hospitality Management in Dubai to discuss the future of the hotel sector in the Middle East and North Africa ahead of the 2011 conference. The Advisory Board members discussed the key challenges and opportunities that are currently facing the hotel sector, debated what issues will be setting the agenda for the industry in the year ahead, in order to start planning the themes and programme for the Seventh Annual AHIC event, being held in May 2011 at Madinat Jumeirah, Dubai. Key stakeholders that met today as part of the Advisory Board meeting included key advisors, investors and government representatives from across the Middle East and Africa, including:
Jalil said: “The uncertain economic outlook will continue to have an impact in the short term, but the region remains an attractive destination for investment and the market remains robust for astute investors looking to potentially access medium to long term returns.” “The MENA markets have recently witnessed the construction of a large number of hotel and hospitality-related developments, though many projects have been delayed or cancelled due to the global economic downturn. Nevertheless, the supply pipeline is still significant with the region’s hotel room supply poised to increase from 640,000 rooms to 730,000 rooms over the next five years, through to 2015.” Hotel performance within the region has been mixed over the past year with a number of GCC markets seeing declines while those in the Levant and North Africa starting to witness an upturn. Markets such as, Beirut and Damascus have seen large increases in Revenue Per Available Room (RevPAR) due to limited growth in supply, and are expected to experience continued growth, according to the Jones Lang LaSalle Hotels MENA House View for July 2010. The interactive programme for this year’s Advisory Board meeting included discussion sessions on issues surrounding the sector, such as ownership and management structures, recent developments and agreements in the region, transactions, acquisitions and strategies for growth, geographic markets, product opportunities and brand strategies. Jonathan Worsley, Chairman, Bench Events commented: “We are looking forward to AHIC 2011, where we hope that the anticipated recovery in market conditions will have started to filter through to the hotel and hospitality sector. We are already beginning to see an increase in investment and M&A activity in the sector which I believe signals the start of a sustained recovery, which was one of the major themes of the 2010 event held earlier this year.” The Advisory Board meeting also offered a great opportunity for Emirates Academy students who were asked to brainstorm the themes and content for AHIC 2011 Conference Sessions, with the support of some of the industry experts, helping them to get a top level understanding of the major areas for discussion in the hotel industry. The Seventh Annual AHIC 2011 event, which is organised by MEED and Bench Events, will take place at the Madinat Jumeirah from April 30th-May 2nd 2011. The conference will include key participants such as Jumeirah Group, WATG, Hilton Worldwide, InterContinental Hotels Group, Abu Dhabi National Hotels, Accor Hospitality, Golden Tulip Hotels & Resorts, IFA Hotel Investments, Sharm Dreams Holding For Tourism & Hotels S.A.E., Expedia, Atlas Group Middle East, and Schletterer Wellness And Spa Design. Bench Events Bench Events has a long track record in hosting the premier hotel investment events in Europe and the Middle East. Bench Events’ Chairman, Jonathan Worsley, is one of the organisers and founders of the highly successful International Hotel Investment Forum now in its fourteenth year (www.berlinconference.com). In 2005, he was responsible for launching the Arabian Hotel Investment Conference in Dubai (www.arabianconference.com); in 2008 launched the Russia & CIS Hotel Investment Conference (www.russia-cisconference.com) and in 2011 will premier the Central Asia and Turkey Hotel Investment Conference (www.cathic.com). Bench Events’ sister company, JW Bench, is a benchmarking company that has successfully launched the Conference Bench and the Productivity Bench. An industry first, the Conference Bench, measures performance data for conference and banqueting space in 10 cities throughout Europe and the Middle East. www.benchevents.com MEED For 50 years business leaders have been relying on MEED (Middle East Economic Digest) to give them a wealth of factual, unbiased business information that they need to be successful. The MEED brand represents an unrivalled portfolio of high caliber business information products, online services and premier networking events. MEED Conferences is part of the leading information brand in the Middle East working to provide delegates with the very latest business sensitive information. Over the past 12 years, MEED Conferences has organised events attended by senior government officials and thousands of international business people. The conference series is aimed at companies actively seeking business in the markets of the Middle East. MEED is well established as the source of strategic and accurate regional information placing it in a unique position to bring together high-caliber speakers. www.meed.com |
For more information please contact: Alisdair Haythornthwaite +971 56 690 1725 [email protected] Rosemary Youssef +971 50 354 8805 [email protected] |