Jumeirah Group, the Dubai-based luxury hotelier, said its expansion plans to add 30 properties by 2012 had not been affected by the global financial crisis because the world’s very rich people were still travelling and staying at top end hotels.
'The luxury market is still holding up very strongly. If you try to get a room in our hotels in Dubai, it is not that easy,' said Gerald Lawless, executive chairman, adding that occupancy rates were as high as 90%.
Jumeirah’s optimism comes despite Intercontinental Hotels Group, the world’s largest hotel company, recently warning that the recession would affect its pipeline of new developments. The downturn has begun to hit the hotel sector as leisure and business travellers cut back their travel plans and developers struggle to complete openings.