what i have understand from Financial Crisis

What I understood about the financial crises that are occurring right now is, the prices of companies stocks are all going down the people who owned these stocks lost a big amount of money which led to the financial crises we are encountering know.

Jumeirah Group affected in Financial Crisis

aJumeirah Group on track for 60 hotels
By Suzanne Fenton, Staff ReporterPublished: March 16, 2009, 23:01
Dubai: The Jumeirah Group remains optimistic about plans to have 60 hotels and 150 branded restaurants under management or development by 2012, according to the executive chairman of the group.
Jumeirah Group already has 10 hotels in Dubai and others in London and New York. Currently, the group has 14 hotels under construction from Shanghai to Argentina, including three hotels in Aqaba, Jordan.
The company is also looking to other locations such as the Maldives, Kuwait and Thailand.
As the number of hotels increases, so must the number of employees. Jumeirah Group currently has 11,500 employees but this figure is set to rise to 55,000 after 2012, said Gerald Lawless, the group's executive chairman, during a Middle East Economic Digest (MEED) conference on mega projects.



While the impact of the financial crisis has made itself felt in all industries across the globe, occupancy levels remain robust.
"We closed the month of February in our beach hotels, including Madinat Jumeirah and Jumeirah Beach Hotel, with an occupancy of 90 per cent. We will do 90 per cent for March and we will do 90 per cent for April," Lawless said.
The group is certainly doing better than reports suggest. Last week, Jones Lang LaSalle said in its March report that the hospitality market has the lowest occupancy rate in five years with an average of 79 per cent.
http://archive.gulfnews.com/business/Hotel_and_Tourism/10295550.html


As you have seen in the first article the Charmin said that jumeirah group was not affected by the financial crises, but as we can see in this article, which it is from latest. It says that jumeirah group was planning to have 60 hotels and 150 restaurants, and many other projects. In now days all industry had stopped the new projects and the changed there plans.

Instance of Financial crises:

Dubai hotel company the Jumeirah Group will continue their journey, by opening 60 hotels by 2012, without thinking of global financial crisis. The chairman of Jumeirah Group said:“Gerald Lawless said the crisis will not affect the Jumeirah Group and that the company is "well-funded", reported UAE daily Gulf News."The present financial crisis won't affect us much as we are a solid company, and the hotels that we've signed up are being developed by strong partners," Lawless told the newspaper.”

With the Financial Crisis effecting many big companies, but Jumeirah Group is large company which the financial crises didn’t affect any part of its business.

Burj Al Sufooh

Location:
-Dubai, Bar Dubai, Al Sufooh.
Description of your business:
-Hospitality
-Restaurants
-SPA
-Water Park
-Tourism
-Café shop
-World known shops

Give an approximate figure. In term of Dirham’s you require to set up a business:
-100-400 million dirham’s to start the business.



Describe the various financial services you would be using for you business:
-Insurance
- Opening an account in a bank
-Loans
-Transferring of salaries

News article:

Victoria Summerley

Saturday, 16 March 2002

Almost any contemporary publicity photograph of Dubai shows the Burj Al Arab, a 321m edifice that rises from the Gulf above its own man-made island. Burj Al Arab means "Arab boat"; the hotel is shaped like a giant sail. To connect the new island to the mainland, a causeway was built. Everyone must pass through a security gate and to keep out rubberneckers, non-residents have to pay 100 dirhams (£20) for the privilege; this is then deducted from your restaurant or bar bill.

Almost any contemporary publicity photograph of Dubai shows the Burj Al Arab, a 321m edifice that rises from the Gulf above its own man-made island. Burj Al Arab means "Arab boat"; the hotel is shaped like a giant sail. To connect the new island to the mainland, a causeway was built. Everyone must pass through a security gate and to keep out rubberneckers, non-residents have to pay 100 dirhams (£20) for the privilege; this is then deducted from your restaurant or bar bill.

Inside, escalators flanked by vast aquariums filled with tropical fish lead up to the lobby, past the Al Iwan restaurant, a vision in red and gold. Then it's on to the lifts, and up to your suite. There are only suites here. They start at 170 square metres (a deluxe) and go up to the Royal Suite at 780 square metres. Each floor has its own reception desk and each suite has its own butler.

Your butler will show you around the suite. Pay close attention. You will need the remote control to open and shut the curtains, switch on the television, listen to music and, indeed, summon the butler.

Location, location, location

The Burj lies 280m off the Jumeirah coast, looking down on a vast stretch of beach. Burj Al Arab, PO Box 74147, Dubai, UAE (00 971 4 3017271, www. jumeirahinternational.com)

Time to international airport: it is 25 minutes from the airport in one of the hotel's fleet of Rolls-Royce Silver Seraphs.

Are you lying comfortably?

I was tempted to spend the night in the whirlpool bath, which was huge. The bed, however, was also immense, with pillows as soft as down.

Freebies: Hermès, darling. Your butler will supply you with bottles of 24 Faubourg eau de toilette, body lotion, shower gel and shampoo, plus enormous wedges of soap. There's also a selection of things like nail files and shaving kits. And lots of stationery, printed especially with your name.

Keeping in touch: the 42-inch plasma TV has video, DVD, internet access and satellite.

The bottom line

A one-bedroom deluxe suite costs around 3,000 dirhams (£600) per night per suite. (The royal suite costs 30,000 dirhams a night, or £6,000.)

I'm not paying that: A room at the Emirates Towers Hotel (00 971 4 330 0000; info@emirates-towers-hotel.com), in the centre of Dubai, costs 1,200 dirhams (£240) per night and offers wonderful cityscape views.