Two hotel executives say Dubai will be an attractive spot for hotel developers even after Expo 2020.
Pascal Gauvin, the chief operations officer for the Middle East, India and Africa at InterContinental Hotels Group, said that Dubai’s emergence as a global hub alongside London, New York, Hong Kong and Singapore will sustain its growth beyond 2021, and that is fuelling interest with international hotel operators.
The group has 18 hotels in the UAE and seven more in the pipeline that will add 1,833 rooms across Dubai, Abu Dhabi, Ras Al Khaimah and Fujairah in the next three to five years. Its InterContinental Dubai Marina is expected to open this year.
Hilton, which manages 17 hotels in the UAE, has six projects under way that are expected to come on stream in the next three to five years, including a DoubleTree hotel at Abu Dhabi’s Masdar City. The rest are in Dubai and include a Hilton property on Palm Jumeirah.
The company’s UAE pipeline represents about 9 per cent of its total pipeline for the Middle East and Africa.
“The hotel sector in Dubai won’t stop at 2020, and years beyond 2020 it will remain successful, especially with the development of the airlines,” said Christian Grage, the company’s vice president of operations for the Arabian Peninsula.
To tap into Dubai’s need for mid-market hotels, Hilton will debut its Hilton Garden Inn brand next year, with one property near Port Rashid and the other in the old trade centre of Deira.
ssahoo@thenational.ae
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The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
Company%20profile
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Hydrogen: Market potential
Hydrogen has an estimated $11 trillion market potential, according to Bank of America Securities and is expected to generate $2.5tn in direct revenues and $11tn of indirect infrastructure by 2050 as its production increases six-fold.
"We believe we are reaching the point of harnessing the element that comprises 90 per cent of the universe, effectively and economically,” the bank said in a recent report.
Falling costs of renewable energy and electrolysers used in green hydrogen production is one of the main catalysts for the increasingly bullish sentiment over the element.
The cost of electrolysers used in green hydrogen production has halved over the last five years and will fall to 60 to 90 per cent by the end of the decade, acceding to Haim Israel, equity strategist at Merrill Lynch. A global focus on decarbonisation and sustainability is also a big driver in its development.
Business Insights
- As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
- SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
- Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
The specs
Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
On sale: Now
Famous left-handers
- Marie Curie
- Jimi Hendrix
- Leonardo Di Vinci
- David Bowie
- Paul McCartney
- Albert Einstein
- Jack the Ripper
- Barack Obama
- Helen Keller
- Joan of Arc
Simran
Director Hansal Mehta
Stars: Kangana Ranaut, Soham Shah, Esha Tiwari Pandey
Three stars
MATCH INFO
Chelsea 4 (Mount 18',Werner 44', Hudson-Odoi 49', Havertz 85')
Morecambe 0
The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
From Zero
Artist: Linkin Park
Label: Warner Records
Number of tracks: 11
Rating: 4/5