Data research firm STR Global has reported that 10, rooms are under construction in Dubai. But this growth will witness substantial jump during andadding 8, and 8, keys — respectively. However, another 5, rooms supply will come into stream in — taking the number of keys to 91, by end from 64, in Data research firm STR Global has reported that 10, rooms are under construction in Dubai — the largest in the region — and 3, rooms in Abu Dhabi.

Among other regional cities, 6, rooms are in the construction phase in Doha, 5, in Makkah, 5, in Riyadh and 2, in Jeddah.

Dubai to get 27, more hotel rooms during - Emirates 24|7

According to industry figures, more than 30 properties — including extension of some of the existing hotel — are forecast to open their doors in Dubai-based Hospitality Management Holdings MHM CEO Laurent A. Voivenel believes that the emirate needs more budget than the high-end rooms in order to attract and diversify the options for budget-conscious tourists. And now is the time to build these in Dubai. HMH CEO said there is a near saturation in the market when it comes to luxury hotels and the market does not need any more luxury hotels at this point.

Oversupply of rooms in this segment is putting a tremendous pressure on rates that in turn is affecting return on investment RoI. However, the same is not the case with mid-market hotels. Given the demand, investors can expect double digit RoI 10 to 12 per cent every year with the right product and the right location, Voivenel added. Chiheb Ben-Mahmoud, Head of Hotels and Hospitality for Middle East and Africa at JLL, said with consistent supply of rooms in the market, the Dubai hotel operators would fee increased competition which could lower their margins.

He said with an additional 4, keys due for completion inthe sector is expected to witness subdued growth rates as operators face strong competition.

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Adult elephants save a calf from drowning A pair of frantic adult elephants saved a drowning calf in an incredible display of teamwork by the gentle giants. First car made in UAE sent to France Emirates SkyCargo, the freight division of Emirates, has transported the first car designed and built entirely in the. Identifying London's fire victims could take months: Pregnant woman dragged across parking lot in carjacking A pregnant woman was dragged across a gas station parking lot in Hammond, Indiana by two thieves who stole her car.

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Dubai Police arrest three Asians on forging residence visa to apply for Schengen visa Dubai Police have arrested three Asians for forging the UAE residency visa in order to apply for a Schengen Visa. Saudi king Salman names son Mohammed bin Salman crown prince Saudi state media says the kingdom's former crown prince has pledged his allegiance to King Salman's son, year-old. In Case You Missed It The coolest way to ride the water in Dubai Fare ranges between Dh50 and Dh for regular trips and Dh per hour for tourist journey.

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