‘The H Holding Enterprise’ underscores the growth of the hospitality sector in UAE in first half of 2016

‘The H Holding Enterprise’, one of the renowned investment groups in the UAE, reported that the UAE hospitality market has registered positive growth in the first half of 2016. 

“The hospitality sector is a fundamental pillar in the growth and development of the national economy of the UAE. As the country is one of the safest destinations worldwide for tourists, businessmen and foreign investors, we think that the sector will register further growth in the second half of the year,” said Hafeez Abdullah, Chairman of the ‘The H Holding Enterprise’.

Revenues of Dubai based hotels are expected to rise to AED 40 billion by 2019 as the number of tourists is set to double by 2020 according to the Dubai Tourism 2020 vision.

According to ‘the H Holding Enterprise’, there are many hotels pipelined to open in the coming year, which will further increase competition for the better of tourists flying in to the UAE.