Intercontinental Hotels Group, which operates the Crowne Plaza and Holiday Inn brands, among others, is "cautiously optimistic" about the outlook for 2022, with regional growth to be driven by the Fifa World Cup in Qatar, the return of corporate meetings and the coming holiday season.
The UK-based global hospitality company is forecasting an occupancy rate of about 80 per cent this year in the region, amid demand from its key markets in India, Egypt, Saudi Arabia and the UAE across its brands, Haitham Mattar, managing director of India, Middle East and Africa at IHG Hotels & Resorts, told The National on the sidelines of the Future Hospitality Summit in Dubai.
This comes after a "healthy performance" in the first half of the year and "strong demand" indicators in the third quarter, he said.
"Quarter four being a traditionally busy month gives us great confidence that we will close the year on a very high note - we are confident with our growth strategy, not only on trading but on growing our pipeline as well," he said.
"We are signing deals throughout the rest of the year."
IHG is focused on bringing new brands to the region, particularly in the luxury hotels segment.
The company is in "deep discussions" with its investors to introduce its top tier brands Regent and Kimpton in Egypt, the UAE (particularly Dubai) and Saudi Arabia (Jeddah and Riyadh), Mr Mattar said.
"We expect some to be finalised by the end of the year," he added.
IHG, which has 174 hotels in the region, plans to open an additional 130 properties over the next five years, Mr Mattar said. About 45 per cent of these planned hotels are in Saudi Arabia, while the rest will be in India, Egypt and the UAE.
The company is deepening its presence in Saudi Arabia's tourism giga projects, where it has already signed deals for its Six Senses and Intercontinental brands in The Red Sea Development Company's luxury tourism project. It has also signed deals for its Six Senses brand with the Diriyah Gate and Amaala tourism projects.
"We are also now in the finalisation stage of signing another hotel with Neom ... and we're about to announce it soon," Mr Mattar said, but he declined to elaborate as the deal has yet to be completed.
Unveiled by Saudi Arabia's Crown Prince Mohammed bin Salman in 2017, Neom is the kingdom's flagship business and tourism development on the Red Sea coast and a central project in its Vision 2030.
IHG, which currently employs 4,500 people across Saudi Arabia, aims to hire 6,000 citizens of the kingdom by 2030. It has a partnership with the Ministry of Tourism to develop local talent for the hospitality industry.
The large-scale projects being developed in the kingdom are part of the country's efforts to diversify its economy, cut its dependence on oil revenue, create jobs and attract foreign investment. Development of non-oil sectors such as tourism are crucial pillars of the kingdom's Vision 2030 economic transformation agenda.
Demand for luxury hotel stays has remained strong, despite higher inflation rates, as people are eager to travel and indulge in experiences after two years of Covid-related lockdowns, Mr Mattar said.
"Due to inflation, many hotel companies had to increase rates in order to meet their cost levels, but we've seen acceptance tremendously from consumers who continue to vote with their feet and they're showing up," he said.
In the first half of 2022, IHG hotels' revenue per available room (RevPar) rose 20 per cent year on year, driven by performance in the second quarter particularly, he said.
In the third quarter, demand continued to increase with a "healthy balance between occupancy and rates", he added.
IHG, which operates seven hotels in Doha, is in "deep discussions" to add new brands and properties in the city, Mr Mattar said.
It expects the World Cup football tournament to have a "spillover effect" in neighbouring Gulf cities such as Dubai, Riyadh and Jeddah.
It is forecasting occupancy rates of 80 per cent at its properties in Doha and the UAE in November and December, Mr Mattar said. RevPar is expected to increase 10 to 15 per cent year on year during this period.
The group expects to return to pre-pandemic levels of business by the end of 2023, in line with hospitality industry forecasts, he said.
IHG operates eight of its core brands in the Middle East — InterContinental, Six Senses, Hotel Indigo, Voco, Crowne Plaza, Holiday Inn, Holiday Inn Express and Staybridge Suites.
It currently has 104 hotels across nine countries in the Middle East, including 30 in the UAE and 37 in Saudi Arabia, with 63 hotels in the pipeline in the region.
IHG will be opening six hotels in the remaining months of 2022 and 15 in 2023 in the Middle East and Africa.
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Wenger's Arsenal reign in numbers
1,228 - games at the helm, ahead of Sunday's Premier League fixture against West Ham United.
704 - wins to date as Arsenal manager.
3 - Premier League title wins, the last during an unbeaten Invincibles campaign of 2003/04.
1,549 - goals scored in Premier League matches by Wenger's teams.
10 - major trophies won.
473 - Premier League victories.
7 - FA Cup triumphs, with three of those having come the last four seasons.
151 - Premier League losses.
21 - full seasons in charge.
49 - games unbeaten in the Premier League from May 2003 to October 2004.
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
COMPANY PROFILE
Name: Lamsa
Founder: Badr Ward
Launched: 2014
Employees: 60
Based: Abu Dhabi
Sector: EdTech
Funding to date: $15 million
CONFIRMED%20LINE-UP
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Top tips
Create and maintain a strong bond between yourself and your child, through sensitivity, responsiveness, touch, talk and play. “The bond you have with your kids is the blueprint for the relationships they will have later on in life,” says Dr Sarah Rasmi, a psychologist.
Set a good example. Practise what you preach, so if you want to raise kind children, they need to see you being kind and hear you explaining to them what kindness is. So, “narrate your behaviour”.
Praise the positive rather than focusing on the negative. Catch them when they’re being good and acknowledge it.
Show empathy towards your child’s needs as well as your own. Take care of yourself so that you can be calm, loving and respectful, rather than angry and frustrated.
Be open to communication, goal-setting and problem-solving, says Dr Thoraiya Kanafani. “It is important to recognise that there is a fine line between positive parenting and becoming parents who overanalyse their children and provide more emotional context than what is in the child’s emotional development to understand.”
'Munich: The Edge of War'
Director: Christian Schwochow
Starring: George MacKay, Jannis Niewohner, Jeremy Irons
Rating: 3/5
Third Test
Day 3, stumps
India 443-7 (d) & 54-5 (27 ov)
Australia 151
India lead by 346 runs with 5 wickets remaining
UFC%20FIGHT%20NIGHT%3A%20SAUDI%20ARABIA%20RESULTS
%3Cp%3E%0D%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMain%20card%3Cbr%3EMiddleweight%3A%3C%2Fstrong%3E%0D%3Cbr%3ERobert%20Whittaker%20defeated%20Ikram%20Aliskerov%20via%20knockout%20(Round%201)%0D%3Cbr%3E%3Cstrong%3EHeavyweight%3A%3C%2Fstrong%3E%0D%3Cbr%3EAlexander%20Volkov%20def%20Sergei%20Pavlovich%20via%20unanimous%20decision%0D%3Cbr%3E%3Cstrong%3EMiddleweight%3A%3C%2Fstrong%3E%0D%3Cbr%3EKelvin%20Gastelum%20def%20Daniel%20Rodriguez%20via%20unanimous%20decision%0D%3Cbr%3E%3Cstrong%3EMiddleweight%3A%3C%2Fstrong%3E%0D%3Cbr%3EShara%20Magomedov%20def%20Antonio%20Trocoli%20via%20knockout%20(Round%203)%0D%3Cbr%3E%3Cstrong%3ELight%20heavyweight%3A%3C%2Fstrong%3E%0D%3Cbr%3EVolkan%20Oezdemir%20def%20Johnny%20Walker%20via%20knockout%20(Round%201)%0D%3Cbr%3E%3Cstrong%3EPreliminary%20Card%0D%3Cbr%3ELightweight%3A%3C%2Fstrong%3E%0D%3Cbr%3ENasrat%20Haqparast%20def%20Jared%20Gordon%20via%20split%20decision%0D%3Cbr%3E%3Cstrong%3EFeatherweight%3A%3C%2Fstrong%3E%0D%3Cbr%3EFelipe%20Lima%20def%20Muhammad%20Naimov%20via%20submission%20(Round%203)%0D%3Cbr%3E%3Cstrong%3EWelterweight%3A%3C%2Fstrong%3E%0D%3Cbr%3ERinat%20Fakhretdinov%20defeats%20Nicolas%20Dalby%20via%20split%20decision%0D%3Cbr%3E%3Cstrong%3EBantamweight%3A%3C%2Fstrong%3E%0D%3Cbr%3EMuin%20Gafurov%20def%20Kang%20Kyung-ho%20via%20unanimous%20decision%0D%3Cbr%3E%3Cstrong%3ELight%20heavyweight%3A%3C%2Fstrong%3E%0D%3Cbr%3EMagomed%20Gadzhiyasulov%20def%20Brendson%20Ribeiro%20via%20majority%20decision%0D%3Cbr%3E%3Cstrong%3EBantamweight%3A%3C%2Fstrong%3E%0D%3Cbr%3EChang%20Ho%20Lee%20def%20Xiao%20Long%20via%20split%20decision%3C%2Fp%3E%0A
Five expert hiking tips
Always check the weather forecast before setting off
Make sure you have plenty of water
Set off early to avoid sudden weather changes in the afternoon
Wear appropriate clothing and footwear
Take your litter home with you
The years Ramadan fell in May
Some of Darwish's last words
"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.
Killing of Qassem Suleimani
Mohammed bin Zayed Majlis
More from Neighbourhood Watch:
UAE currency: the story behind the money in your pockets
Keep it fun and engaging
Stuart Ritchie, director of wealth advice at AES International, says children cannot learn something overnight, so it helps to have a fun routine that keeps them engaged and interested.
“I explain to my daughter that the money I draw from an ATM or the money on my bank card doesn’t just magically appear – it’s money I have earned from my job. I show her how this works by giving her little chores around the house so she can earn pocket money,” says Mr Ritchie.
His daughter is allowed to spend half of her pocket money, while the other half goes into a bank account. When this money hits a certain milestone, Mr Ritchie rewards his daughter with a small lump sum.
He also recommends books that teach the importance of money management for children, such as The Squirrel Manifesto by Ric Edelman and Jean Edelman.
MATCH INFO
Uefa Champions League quarter-final, second leg (first-leg score):
Manchester City (0) v Tottenham Hotspur (1), Wednesday, 11pm UAE
Match is on BeIN Sports
The specs
Engine: 6.2-litre supercharged V8
Power: 712hp at 6,100rpm
Torque: 881Nm at 4,800rpm
Transmission: 8-speed auto
Fuel consumption: 19.6 l/100km
Price: Dh380,000
On sale: now
Read more about the coronavirus
More coverage from the Future Forum
The%20specs
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Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
UAE currency: the story behind the money in your pockets
RESULT
Shabab Al Ahli Dubai 0 Al Ain 6
Al Ain: Caio (5', 73'), El Shahat (10'), Berg (65'), Khalil (83'), Al Ahbabi (90' 2)
Killing of Qassem Suleimani
Killing of Qassem Suleimani
The years Ramadan fell in May
KILLING OF QASSEM SULEIMANI
