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New Discovery Unveiled in Egypt

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New Discovery Unveiled in Egypt 20 MAY 2017 ISSUE 393 05 05 GENERAL SHARJAH TO WELCOME CITY CENTRE MALL NEW DISCOVERY UNVEILED IN EGYPT 09 SHARJAH’S FIRST LUXURY 04 Airports DESERT RESORT ANNOUNCED 08 Agents 18 Who's Moved MARKET UPDATE www.traveltradeweekly.travel TRAVEL TRADE PUBLICATIONS MANAGING EDITOR Middle East Hoteliers See Mary Kammitsi [email protected] Drop in Q1 SENIOR JOURNALIST Ellen Petty JOURNALIST Maria Sabova CONTRIBUTORS Panayiotis Karanicholas Anna Spyrou Dominique Christou DESIGN & LAYOUT Elena Stylianou WEB & BUSINESS DEVELOPMENT MANAGER Savvas Kammitsis Lebanon DIRECTORS Andreas Constantinides Mary Kammitsi Hotels in the Middle East reported declines in a number of measures during HEADQUARTERS the first quarter (Q1) of this year compared to the same period in 2016, includ- T.T.W. Travel Trade Weekly LTD P.O. Box 25255, Nicosia 1308 Cyprus Tel: +357 22 021607, Fax: +357 22 103670 ing an 8.2 percent drop in RevPAR to USD122.07, as revealed by STR. WEBSITE www.traveltradeweekly.travel urthermore, occupancy fell 1.4 percent to 70.5 percent, while average daily rate (ADR) de- EMAILS [email protected] creased 6.8 percent year-on-year to USD173.06. [email protected] Bolstered by an exceptionally strong March, Lebanon achieved a 10.1 percent growth to [email protected] F reach 49.3 percent in Q1, an 11 percent jump in RevPAR, along with a 0.8 percent boost in ADR. WORLDWIDE REPRESENTATIVES On the other hand, performance was down in Saudi Arabia compared to Q1 2016, with a 10.4 per- Representative for North, South & Central cent decline in occupancy to 58.3 percent, a 12 percent fall in ADR and a 21.2 percent plummet in America, and the Caribbean: Neil Strickland RevPAR. GlobeTM Tel: +19542969515, [email protected] Representative for Indian subcontinent: Faredoon Kuka RMA Media Tel: +912229253735, [email protected] American Express Reports Representative for UK & Ireland and Scandinavia: Revenue Drop David Simpson Simpson Media Tel: +447900885456, [email protected] MENA EXCHANGE RATES as of 19.5.2017 COUNTRY CURRENCY USD1= Bahrain (BHD) Dinar 0.37 Jordan (JOD) Dinar 0.71 Oman (OMR) Rial 0.39 In the first quarter (Q1) of the year, American Express Company revealed net Qatar (QAR) Rial 3.64 income of USD1.2 billion, a year-on-year decline of 13 percent, while diluted Saudi Arabia (SAR) Riyal 3.75 UAE (AED) Dirham 3.67 earnings per share stood at USD1.34, down eight percent. Algeria (DZD) Dinar 108.65 Egypt (EGP) Pound 18.06 Iran (IRR) Rial 32,446.09 1 consolidated total revenues net of interest expense reached USD7.9 billion, down two per- Iraq (IQD) Dinar 1,170.85 Kuwait (KWD) Dinar 0.30 cent from USD8.1 billion in the same period in 2016. Excluding 2016’s Costco-related busi- Lebanon (LBP) Pound 1,511.59 ness and the impact of foreign exchange rates, adjusted revenues net of interest expense grew Libya (LYD) Dinar 1.38 Q seven percent. Morocco (MAD) Dirham 9.80 Kenneth Chenault, CEO, American Express Company, said, “The results reflect many of the invest- Syria (SYP) Pound 214.35 ments we have been making to grow the business, plus continued progress in reducing operating ex- Tunisia (TND) Dinar 2.43 penses. Yemen (YER) Rial 250.14 2 20 MAY 2017 www.traveltradeweekly.travel WEEKLY NEWS Seychelles Tourism Showcased at Luxury Expo Seychelles Tourism Board office in Dubai took further steps to reinforce its reputation in the region by participating in the 5th American Express World Luxury Expo 2017 for the first time. eld at The Ritz-Carlton, Riyadh, the event enabled the organisation to strengthen relationships with industry stakeholders and to reach to a wider audience, adding to Saudi Arabia’s status as a significant feeder market H to the Seychelles. Ahmed Fathallah, regional manager, Middle East, Dubai, Seychelles Tourism Board, summarised, “[…] The affirma- tive response the tourism board received from the consumers [during the event] is an indication to the fact that the The Ritz-Carlton,The Riyadh Seychelles has an unwavering acceptance in the whole market.” Egypt Boasts Yas Island to Welcome Booming Real Mercedes-Benz Estate Sector Showroom head of Egypt Property ldar Properties has re- Show 2017, a press con- cently signed a partner- A ference put the spotlight A ship agreement with Al on Egypt’s rapidly growing real Fahim Group to launch the first estate market, showcasing con- Mercedes-Benz and AMG show- siderable investment opportuni- room and express service centre ties. on Yas Island. According to Egypt Ministry Expected to be completed in for Housing, the country’s boom- 2019, the new development will ing population has resulted in cover an area of 5,900m2 and growing demand for residen- is part of a new planned retail tial housing, with an estimated park, a branch of Aldar Proper- 500,000 new homes needing to ties’ AED3 billion (USD816 mil- be built annually over the next lion) investment programme. five years. In line with the gov- Commenting on the new ernmental objective to sustain opening, Ahmed Abdul Jalil the sector’s upward trajectory, Al Fahim, chairman, Al Fahim two major development pro- Group, stated, “To grant visitors jects were presented during the the best customer experience event, New El Alamein City, set in the region, the complex will to become the next tourism and have all the elements of future residential hotspot, and yet-un- showroom concepts for Mer- named The New Capital of Egypt, cedes-Benz and AMG, such as, expected to play a role of a finan- complete digitalisation and new cial and administrative hub. job roles.” 20 MAY 2017 3 WEEKLY NEWS AIRPORTS www.traveltradeweekly.travel Dubai International Queue Time Drops Dubai International achieved 10 percent decrease in waiting times during the first quarter of this year, attributed to advanced technology solutions implemented onsite. rom January to March, the hub processed 84 percent of transfer passengers within five minutes, 87 per- cent of departing travellers within 10 minutes and 68 percent of arriving visitors were handled within 15 F minutes. The technology solutions that significantly assist with timely processing of passengers are Smart Gates, ena- bling UAE residents to exit through automated immigration gates quickly and conveniently with the use of Emir- ates ID cards. The second solution behind shorter waiting times is a motion sensor system allowing the airport to track queues in real time and to take immediate actions with deployment of resources. Dubai Hosted HIA 17th Airport Celebrated CAI to Run Show Record March Jeddah Hub roviding an ideal oppor- audi Arabia’s General Au- tunity for global exhibi- thority of Civil Aviation P tors to showcase and S (GACA) has recently award- launch airport and aviation- ed a consortium led by Changi Air- related products and services, ports International (CAI), a subsidi- the 17th edition of Airport ary of the Changi Airport Group, a HIA Show was held on May 15 – 17 contract to operate the Jeddah’s at Dubai International Conven- King Abdulaziz International Air- tion and Exhibition Centre. port for 20 years. More than 300 leading amad International Airport (HIA) registered record Commenting on the occasion, companies from over 40 coun- results in March, with 21,842 aircraft movements and Lim Liang Song, CEO, CAI, stated, tries showcased their products H 177,325 tonnes of cargo handled, both contributing “We would like to thank the GACA and services, with Germany in successful conclusion of the first quarter (Q1) of this year. board of directors for their confi- having the largest participa- Overall, the Qatari gateway served 9.78 million passen- dence and trust in CAI. This is tes- tion, with 34 exhibitors. gers in Q1, a 10 percent year-on-year increase. The period tament to the strong partnership Daniyal Qureshi, group ex- under review also saw a 20 percent jump in the freight seg- we have with GACA, from when we hibitions director, Reed Exhibi- ment over the same period in 2016, with 469,725 tonnes of first started managing [King Fahd tions Middle East, said, “The transported goods. Meanwhile, from January to March, the International Airport] eight years growth of the Middle East re- carrier recorded 62,913 aircraft movements representing an ago.” gion’s aviation sector is open- eight percent year-on-year growth. Committed to being a val- ing a wealth of opportunities While highlighting the phenomenal results of the cargo ued partner in the global aviation for international players, as is division, Badr Mohammed Al Meer, chief operating officer, market by creating airports of the reflected in the massive inter- HIA, attributed the hub’s positive performance to increased future, CAI has an extensive glob- est from global exhibitors this frequencies along with new airlines that have joined the air- al experience that spans over 20 year.” port’s network. countries in four continents. 4 20 MAY 2017 www.traveltradeweekly.travel WEEKLY NEWS Sharjah To Welcome New Discovery Dubai Chamber City Centre Mall Unveiled in Egypt Shared Expertise ajid Al Futtaim Properties gypt’s Ministry of State for Antiq- he Dubai Chamber of Commerce & has recently unveiled plans uities has announced the find- Industry (DCCI) recently welcomed M to launch what is said to E ings of an archeological mission T delegations from authorities in become the company’s largest mall in in the Draa Abul Nagaa necropolis near Bahrain and Al Qassim, with the aim of Sharjah, City Centre Al Zahia. Luxor, which revealed 3,500 year old sharing knowledge and enhancing coop- Expected to be completed in 2020, tombs, among other ancient artifacts. eration. the 13.62ha venue will offer a diverse After removing 450m³ of debris, During the meeting, the representa- mix of over 360 retail brands spread the researchers uncovered a burial tives of the three chambers discussed the across two storeys complemented by chamber of a judge named User- best practices in the areas of membership leisure options such as VOX Cinemas hat, which also housed 10 unique and customer services along with the pro- as well as various dining outlets.
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