Hospitality and Leisure
According to the latest Middle East and Africa Hotel Construction report issued by Top Hotel Projects, the hospitality and leisure industry in the United Arab Emirates is thriving. It is foreseen that there will be 83 new hotels opening their doors in 2018. The United Arab Emirates has more than 200 hotels project in the pipeline, of which 164 in Dubai, 25 in Abu Dhabi and 12 in Ras Al Khaimah. According to Statista the forecasts for the growth of the hospitality industry in the United Arab Emirates predicts a growth of 5.3 percent.
Changes in visa policies have facilitated the access to the United Arab Emirates of more tourists from countries such as Russia and China. In particular, according to Collier’s UAE Hospitality Market Report, Russia inbound visitation shows a 100% year on year growth in the Emirate of Dubai and, although, the increase offer might affect daily average rates, new attractions such as the Dubai Safari and the Dubai Frame should be able to support the expected inbound growth.
With regards to the Northern Emirates, the efforts of the public authorities and the investments in the hotel sectors are starting to produce the expected results with increasing visitation rates matching the Emirates individual targets. Ras Al Khaimah is focusing on its natural assets along with events and conferences, while Sharjah is focusing on culture, nature and its cultural heritage. The hospitality industry is growing substantially in these markets as well and is attracting more and more inbound visits from outside the United Arab Emirates with a propensity for tourists to stay longer compared to domestic visitors.
In all the Emirates, with the exception of Sharjah, the United Arab Emirates remains strong in the luxury sector with the majority of hotels being 5 and 4 stars. Major brands are entering the market at various levels and in all the Emirates, with Ras Al Khaimah being at the forefront of the push with 6,400 keys expected to entering the market (doubling the current offer).
With more than 15 year experience in the hospitality and leisure market, Yungo’s team of lawyers has developed in depth knowledge of every Emirate and has worked with major players and brands in the sector of leisure and hospitality actively participating in building and shaping the future of the industry.
Our clients include brand owners, franchisors and developers; global, regional and national hotels; serviced apartments; and leisure and sports operators (theme and amusement parks, health and fitness facilities, spas, gyms, leisure complexes, cinemas, nightclubs).
We also represent organizers and developers of venues for major sporting and educational events, including the Winter Olympic Games and the Olympic Games.
Our services include the following:
- Trademark licensing agreements;
- Development, acquisition and divestment;
- Contractual and commercial agreements;
- Management and outsourcing operations;
- Joint ventures and M&A;
- Data privacy security technology arrangements;
- Advertising and brand;
- Music and sporting events management agreements;
- Development Agreements.
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