| Publication | Emirates Business 24/7 | Circulation | 52420 |
| Country | United Arab Emirates | Page No. |
 20,21 |
| Language | English | Size | 302 cc |
| Section | Main | AVE | $13342.36 |
Mood upbeat for Middle East hospitality industry in 2010
December 27, 2009 | Part 2 Part 3 Part 4 Part 5 Part 6 |
Yazz and The Plastic Population have no idea that their 1988 hit single, The Only Way Is Up, is about to get back into the groove as the world's hospitality industry reflects upon its 2009 balance sheets in a haze of gloom. Kempinski Middle East and Africa President said the economic downturn has been bad for the hospitality industry. The hotel's revenue per available room for Kempinski Mall of the Emirates dropped by more than 12% in 2009 over last year. The UAE is becoming more vocal in its plans to introduce 3,000 new rooms by the fourth quarter, taking the emirate's inventory to 17,000 by the end of the year. No less than seven hotels opened in the second half of October, in time for the capital's first Formula one Grand Prix on Yas Island. Dubai-based market research firm Proleads reported the UAE hotel sector will see about $20Bn of cash flow into hotel projects under execution in the UAE in 2009.
