Abu Dhabi launches fund to boost events

Abu Dhabi launches fund to boost events

  The Department of Culture and Tourism – Abu Dhabi is launching an incentive scheme to develop content and program collaboration with the private sector to build on the already established annual calendar of vibrant and diverse events, and drive inbound tourism growth.   Already home to more than 800...

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USD 200 billion hospitality projects underway in the GCC

Over 2,000 hospitality and leisure projects are currently underway in the GCC with a combined estimated value of USD 200 billion, event organizers announced ahead of The Big 5 next month, reported Trade Arabia.   An estimated USD 64 billion worth of related projects in the construction pipeline, coupled with...

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Samih Sawiris invests in Dutch online booking platform

Samih Sawiris invests in Dutch online booking platform

The award-winning online booking platform Dutch startup, Bidroom.com, secured substantial investment from Egyptian businessman Samih Sawiris, founder of the Orascom Development Group, a conglomerate of companies operating in many different areas, like tourism and hospitality, but with a primary business focus on developing, constructing and managing whole tourist destinations.  ...

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Starwood Capital invests USD 250 million in YOTEL

Starwood Capital invests USD 250 million in YOTEL

  YOTEL announced that a fund affiliated with Starwood Capital Group, a leading global private investment firm, has committed to making a strategic investment of USD 250 million in YOTEL, including acquiring a 30 percent stake in the company and investing in real estate acquisitions for new build, hotel conversion and adaptive...

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UAE’s hospitality projects value crosses USD 72 billion in Sept 2017

UAE’s hospitality projects value crosses USD 72 billion in Sept 2017

  The total value of 543 active hospitality projects in the UAE reached US$71.6 billion at the beginning of September 2017, according to BNC Network, the largest and most comprehensive project research and intelligence provider in the Middle East and North Africa (MENA) region.   The hospitality sector constitutes six percent of...

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Tourism in the land of the Pharaohs

Tourism in the land of the Pharaohs

Tourism in the Land of the Pharaohs   Egypt’s tourism industry has historically accounted for about 13 percent of the economy and corresponding levels of employment. While the country’s political instability and social upheaval have severely affected its hospitality industry, the country can still capitalize on the sector’s traditional role...

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