UAE is famous for its sky touching buildings and hotels. World’s top hotels are in UAE. During pandemic, all the hotels and restaurants were shut down. They had bear loss in all the pandemic months. Now that the COVID situation is relaxed, UAE is aiming to re-open the hotels and planning to do recoveries of loss during the pandemic.
Fox Business News reported that UAE is planning events like Abu Dhabi F1 Race and Dubai Expo, that was originally meant to be held in 2020. They are striving to pull off these events in order to re-gain the popularity, rush and attract people from all over the globe. This will provide an excellent chance for hotels to serve better and recover from the loses.
UAE has been using this formula for success since past decade. The tourism attractions have given UAE the boom that it enjoys now. UAE always strive to pull off the best in the world mega events. UAE feels proud to be the number 1 in every industry. This time., UAE is also working hard to pull off a high occupancy mega event as a host.
So, the focus of Dubai is to pull off the mega event as a recovery plan for post pandemic recovery. Dubai Expo is set to be launched on October 2021. This time, the expo will be longer to make the tourists stay and benefit from the event. It will in return benefit UAE hotels, malls and restaurants.
According to the US News and World Report, Dubai is designed in such a way that it is hub of tourism and is filled with the tourist attractions. But in 2020, UAE has faced a horrible condition like never before. The ban on the International travel has hit hard UAE and put it in real perplexed situation. Now, Dubai is aiming to re-launch events, plan new activities post COVID to increase the tourism.
Dubai as a Giant in Hotel Industry:
For all these reasons, Dubai is becoming a “giant” in the hotel industry.
According to world’s largest commercial real estate services company, CBRE have stated the benefits of such high magnitude events and how they contribute in the finances of a country. CBRE stands for Coldwell Banker Richard Ellis. The high exposure events prove to be a high rise in economic and tourist growth of any country.
In UAE, hotels measure the revenue by annual RevPAR that is Revenue Per Available Room. RevPAR is the key industry revenue metric to measure growth and profit.
When there is any mega event, there are high chances that hotel space and available rooms go short. In that case, hotels should plan ahead. They need to think outside the box to meet the need of the hour and should be prepared for any emergency that include shortage of rooms and accommodation problems. There can be many solutions and suggestions to that.
Hotels should conduct meetings and built emergency funded buildings for the event span. One of a few suggestions is to build temporary or short term hotels. Pop-up hotels can be used for the accommodation purposes in rush days.
The hotels that stand out among the others have the highest chances of recovery. Think outside the box that how post pandemic event experience can be made best so that the tourists and participants can remember forever.
CBRE has also remarked in this situation that it is the high time that hotels and other operatives choose something untraditional over normal norms. CBRE also paid emphasis to hotels and other real estate departments to get on the road that is less travelled.
So, hotels should try “blended living”. In blended living, hotels are not the separate empires from the community, rather they are built in blended form. The hotel experiencers can have recreational, work and other activities within that boundary. The purpose is to make feel the person encapsulated in a branded living.
They need to serve on a wider community level. In Middle East, this concept has been a huge success and is quite popular. The master planners, architects and other entities linked to real estate field tend to develop the community value. This provided community value is ever increasing.
Benefits of Blended Living:
It broadens the scope to build the branded assets and increase the community value. It will also help to break the chain of cliché concept and people will get to experience something out of the traditional experiences.