Dubai will become a major holiday letting destination over the next five years, competing with resorts like Orlando in the multi-billion dollar short-term leisure market, says a self catering accommodation expert. Nick Turner, managing director of RCI Middle East, will tell British Business Group (BBG) members tomorrow night that by the time Dubai achieves its target of 15 million tourists annually, 20 per cent will stay in villas or apartments, rather than hotels.
Turner, who addresses the BBG’s real estate special interest group at Dubai’s World Trade Club, will discuss how the Emirate is “reinventing” itself in the leisure holiday market to attract families who stay longer, and spend more. Thousands of beach-front apartments and villas built close to retail centres and other main tourist attractions will allow investors to capitalise on the advantages of short-term rental income.“Once you’ve done the old souks, the shopping malls and the beach you’ve virtually exhausted the reasons for being here,” he said. “Dubai is now developing like Orlando has over the last 20 years, by broadening the tourism proposition for families of two adults and two children, building huge theme parks and other attractions to extend the tourists’ stay and increase their spending while they’re here.”Turner will reveal the results of extensive market research to the BBG’s real estate special interest group. It shows the UK followed by Germany as Dubai’s two main markets for self-catering holidays. He also says short-term rental will attract business from the exhibition and conference market, as it has in Las Vegas, the leading US convention destination.
Source : Seven Days
Turner, who addresses the BBG’s real estate special interest group at Dubai’s World Trade Club, will discuss how the Emirate is “reinventing” itself in the leisure holiday market to attract families who stay longer, and spend more. Thousands of beach-front apartments and villas built close to retail centres and other main tourist attractions will allow investors to capitalise on the advantages of short-term rental income.“Once you’ve done the old souks, the shopping malls and the beach you’ve virtually exhausted the reasons for being here,” he said. “Dubai is now developing like Orlando has over the last 20 years, by broadening the tourism proposition for families of two adults and two children, building huge theme parks and other attractions to extend the tourists’ stay and increase their spending while they’re here.”Turner will reveal the results of extensive market research to the BBG’s real estate special interest group. It shows the UK followed by Germany as Dubai’s two main markets for self-catering holidays. He also says short-term rental will attract business from the exhibition and conference market, as it has in Las Vegas, the leading US convention destination.
Source : Seven Days
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