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.