Deloitte Middle East chief says performance indicators set to return to ‘much healthier levels’ towards the end of the year
Many hospitality companies are revising their business strategies and building resilience towards the new normal
The performance of Dubai’s hotel market could return to “much healthier” levels towards the end of this year a suffering a “major shock” caused by the coronavirus pandemic, a senior Deloitte Middle East executive has said.
Deloitte’s annual Middle East Real Estate Predictions 2021 report also said the slump in international visitors to Dubai due to the impact of Covid-19 restrictions has hit footfall and spending at the city’s sprawling shopping malls.
Robin Williamson, head of real estate, Deloitte Middle East, said: “The Dubai hotel market has experienced a major shock and has had to adapt during a very difficult period. With the vaccine currently being rolled out, Expo rescheduled to start on October 1 and Dubai’s 50th year since nationalisation, it is hoped that a rebound will occur and performance matrices return to much healthier levels towards the end of this year.”
Source: Read Full Article