General manager of new Hyatt Regency Dubai Creek Heights sees increasing demand for hospitality projects
Demand for new hotels in Dubai would have increased with or without the Expo 2020, the general manager of the city’s latest hospitality project has told Big Project ME.
Speaking ahead of the launch in March of the Hyatt Regency Dubai Creek Heights, Mathieu Greppo, the general manager, has said that rising tourist numbers would have necessitated heavy investment in Dubai construction of hospitality projects regardless of the Expo.
“Many people have asked me the same questions – ‘do you believe that this city needs so many rooms?’ or ‘is this hotel being built only for Expo 2020?’ I think that they [the Dubai government] weren’t waiting for Expo 2020 to build the hotels,” he said.
“There are more and more people wanting to come to Dubai. It’s a safe place, you can enjoy life and tourism is ongoing. There’s no reason why it shouldn’t continue year-on-year.”
A recent Ventures Middle East report found that the hospitality sector will account for $99 million, or 13.5%, of a total market value of $7.35 billion for the building construction and interiors market in 2015.
In 2014, the report added that the hospitality sector saw projects worth a total value of $4.4 billion completed. The top markets for the sector were Saudi Arabia and the UAE.
“There is still a lot of work that needs to be done, to improve services as more hotels come into the market,” Greppo cautioned. “There’s less qualified manpower in the market, but there is a need for more hotels. It’s clear (to see). And after Expo 2020, there’s going to be a need for it as well.”
He added that he saw demand increasing across all segments of the hospitality market, with five-star, four-star and three-star hotels amongst the most popular.
The Hyatt Regency Dubai Creek Heights project was inaugurated by HH Sheikh Mohammed bin Rashid Al Maktoum on February 19, 2015. The property features two 43-storey towers housing 405 luxury apartments and 464 hotel rooms respectively.
The luxury project in Dubai Healthcare City is owned by Wasl Asset Management Group.
Mathieu Greppo was speaking to Big Project ME during a tour of the Hyatt Regency Dubai Creek Heights, which will be covered in the upcoming March issue of the magazine.