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Malta Now Attractive Shopping Destination

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Homes Go Fast

Dubai Hotel to Auction Rooms

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Unbelievable prices at award winning resort

The Coral Lake & Beach Resort

Dubai’s Monarch Hotel on Sheikh Zayed Road plans to auction off hotel rooms in an effort to increase visits and entice potential guests to its five-star property. Hotels in Dubai have been hit hard by the global economic downturn and this is seen as one way to attract both attention and potential customers.

Arshad Hussain is the hotel’s director of business development and indicated that continuing rate decreases were not doing them much good, so they looked for alternative ways of increasing visits. “In a recession, it’s a very easy thing for hoteliers to keep discounting rates,” said Mr. Hussain. “Very soon they’ll be selling at cost price, or below your break even point.”

Revenue per available room, or REVPAR, fell by more than 40 percent in Dubai in May, from Dh867 in May of 2008 to Dh517. Occupancy levels fell to 67 percent from 78 percent a year earlier. For the first five months of 2009, REVPAR was down 36 percent from 2008.

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DUBAI PROPERTY INVESTOR WARNING!

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GBP 190,000

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