Dubai: Dubai-based Hospitality Management Holding (HMH) Group is set to announce 18 new hotels at the Arabian Travel Market, it said in a statement on Saturday.
During its participation in the ATM-2023, the Group will showcase its projects in the hospitality sector across the region and sign new partnership agreements. It will utilize the platform to shed light on its future strategies and plans to expand into foreign markets, the Group said.
The HMH Group currently manages 13 hotels and resorts in and outside the UAE market with a total inventory of 2032 rooms. It is expanding its portfolio by opening three new hotel facilities in Saudi Arabia in Q2 2023 and is currently in the process of negotiating and planning with potential owners in Egypt, Libya, Oman and in other major countries in the GCC, for further hotel developments.
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On the first day of the exhibition, the Group will sign a management agreement for three new hotels. On May 2, the Group will unveil details about its expansion plans and development strategy for the near future. It will host delegations from the AGCC markets.
“The UAE enjoys a distinguished and strong position in the tourism sector that has proved its high resilience during the pandemic and continues to have a safe and stable climate,” said Patrick Antaki, Chief Operating Officer at HMH Group. “The tourism sector contributes nearly 11 per cent of the UAE’s GDP annually.”
The tourism sector in the UAE has continued achieving record growth levels in 2022 and Q1 2023, most of which exceeded the levels of 2019. By the end of 2022, hotel establishments in the country received 25 million guests, who spent 91 million tourist nights, with a growth rate of 18% from 2021 and seven per cent from 2019.
“The tourism sector in the UAE has continued achieving record growth levels in 2022 and Q1 2023, most of which exceeded the levels of 2019. By the end of 2022, hotel establishments in the country received 25 million guests, who spent 91 million tourist nights, with a growth rate of 18 per cent from 2021 and seven per cent from 2019.”
The occupancy rate during 2022 reached 71 per cent, which is among the highest in the region and the world. Hotel revenues achieved a qualitative leap during the year 2022, as total hotel revenues reached AED38 billion, with a growth rate of 23 per cent over 2019. Dubai received 14.36 million international visitors from January to December 2022, an increase of 97 per cent compared to the same period in 2021, thus exceeding the recovery levels globally and regionally. During January and February of 2023, the number of international visitors to the city reached 3.10 million.