Jumeirah Group enjoyed a “stellar” 2013 and has enjoyed strong performance in the first few months of this year as more Chinese and Saudi Arabian tourists checked in to properties around the world, the Dubai-based luxury hotel company said yesterday.
Travellers from the UK continued to spend the most nights at the hotel, representing 16.4 per cent of total room nights sold. Their spending also increased by more than a quarter. Russians continued to be the largest source of revenue, accounting for 16 per cent of the total last year. That represents an 11 per cent increase from a year earlier.
Business generated by Saudi Arabian travellers rose 33 per cent; Chinese business jumped 32 per cent. The partnership between Qantas and Emirates Airline resulted in business from Australians growing 70 per cent.
“2013 was a stellar year for Jumeirah Group,” said Gerald Lawless, the chief executive. “The first quarter of 2014 has seen that momentum continue with strong occupancy in our hotels, restaurants and other businesses [and] strong demand for new hotel projects both in the Gulf region and internationally.”
Group revenues and operating profit both rose 8 per cent. Occupancy and average room rates increased by 5 per cent, contributing to an 11 per cent growth in revenue per available room. Food and beverage revenue rose by 7 per cent.
Jumeirah has one hotel in China – the Jumeirah Himalayas Hotel in Shanghai. The group has plans for five additional properties – in Guangzhou, Hangzhou, Sanya, Macau and Qindaohu. It also has plans for a resort in Bali and a city hotel in Mumbai. These are expected to be handed over to Jumeirah to operate between 2015 and 2017.
During 2013, Jumeirah also agreed to operate a hotel in St Petersburg and two hotels in a luxury resort on the coast of Oman, near Muscat. Both are scheduled to open in 2016. The company expects to announce more management agreements this year.
In the UAE, construction work started on a 435-room luxury beachfront hotel to complete the Madinat Jumeirah resort. This is expected to open in early 2016.
lgutcher@thenational.ae
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The Color Purple
Director: Blitz Bazawule
Starring: Fantasia Barrino, Taraji P Henson, Danielle Brooks, Colman Domingo
Rating: 4/5
Company profile
Company: Verity
Date started: May 2021
Founders: Kamal Al-Samarrai, Dina Shoman and Omar Al Sharif
Based: Dubai
Sector: FinTech
Size: four team members
Stage: Intially bootstrapped but recently closed its first pre-seed round of $800,000
Investors: Wamda, VentureSouq, Beyond Capital and regional angel investors
The specs: 2019 BMW X4
Price, base / as tested: Dh276,675 / Dh346,800
Engine: 3.0-litre turbocharged in-line six-cylinder
Transmission: Eight-speed automatic
Power: 354hp @ 5,500rpm
Torque: 500Nm @ 1,550rpm
Fuel economy, combined: 9.0L / 100km
The years Ramadan fell in May
if you go
The flights
Emirates offer flights to Buenos Aires from Dubai, via Rio De Janeiro from around Dh6,300. emirates.com
Seeing the games
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SPECS
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Kill
Director: Nikhil Nagesh Bhat
Starring: Lakshya, Tanya Maniktala, Ashish Vidyarthi, Harsh Chhaya, Raghav Juyal
Rating: 4.5/5
WORLD CUP SEMI-FINALS
England v New Zealand (Saturday, 12pm)
Wales v South Africa (Sunday, 1pm)
COMPANY PROFILE
Company name: Revibe
Started: 2022
Founders: Hamza Iraqui and Abdessamad Ben Zakour
Based: UAE
Industry: Refurbished electronics
Funds raised so far: $10m
Investors: Flat6Labs, Resonance and various others
The five pillars of Islam
How to keep control of your emotions
If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.
Greed
Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.
Tip: Ignore the short-term hype, noise and froth and invest for the long-term plan, based on sound fundamentals.
Fear
The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.
Tip: Start with a plan, and stick to it. For added security, consider placing stops to reduce any losses and limits to lock in profits.
Hope
While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.
Tip: Set realistic goals. Be happy with what you have earned, rather than frustrated by what you could have earned.
Frustration
Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.
Tip: Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.
Boredom
Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.
Tip: Open an online demo account and get your thrills without risking real money.
COMPANY PROFILE
Name: Grubtech
Founders: Mohamed Al Fayed and Mohammed Hammedi
Launched: October 2019
Employees: 50
Financing stage: Seed round (raised $2 million)