WORLDHOTELS announces growth in M. East

SINGAPORE – WORLDHOTELS has announced significant year on year growth in revenue, room nights and room rates for the Middle East region. During 2007, the seven WORLDHOTELS properties in Bahrain, Kuwait, Jordan, Lebanon, Saudi Arabia and the United Arabian Emirates saw total revenue increasing 43 percent over the previous year.

Room nights were up by 19 percent and the average room rate grew by 20 percent to US$240. The positive trend continues in the first quarter of 2008 with total revenue increasing by 52 percent and room nights increasing 36 percent, year-on-year.

Over the next two years, WORLDHOTELS will add at least three new properties to its Middle Eastern portfolio. These include three Buddha Bar Hotels & Resorts, one property in Dubai’s “The World” and two future hotels in Abu Dhabi and Bahrain.