The new CEO of Nakheel has claimed that Dubai is “raining cash”, citing the huge demand in the emirate for hotel rooms.
In a speech to the CEO Clubs UAE on Wednesday, Sanjay Manchanda said the tourism sector’s growth seemed unstoppable as new hotel rooms failed to put downward pressure on occupancy levels and room rates.
“The average room rate has gone up to US$303. According to all analysts we’ve been going through, this is the highest in three years. So guys, this is just raining cash,” he claimed.
Read more: http://www.arabianbusiness.com/it-s-raining-cash-says-nakheel-ceo-496597.html
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