First Arabian Hotel Investment Conference to take place from 30 April to 2 May, 2005

Private investment is essential in developing tourism areas such as Arabia, in order to sustain the infrastructure and economy, claims Jonathan Worsley, organiser of the first Arabian Hotel Investment Conference (AHIC), to be held in Dubai between 30 April and 2 May, 2005.

According to Worsley, government initiatives are essential to kick-start any periods of major growth, but it is private sector investment that is needed for the future.

He said: “Economies in Arabia are rapidly maturing. Gone are the days when oil wealth was enough to cover their expansion plans; inward investment will be the backbone of tourism growth and is essential to broaden and deepen countries’ infrastructures.

“Global private sector capital is the means to achieve countries’ economic objectives and, as we are seeing now, the Arab world offers great opportunity for international investment.”

The issue of private sector versus public sector investment is one of the topics scheduled for discussion at AHIC. A curtain raiser to the Arabian Travel Market, the conference will run from 30 April to 2 May, 2005 at the Madinat Jumeirah conference centre in Dubai.

"The Persian Gulf is the most dynamic hotel investment and development market in the world" said Blair Hagkull, partner of the Dubai-based RSP Group, who is moderating a panel on real estate funding at the conference.

"The next wave of freehold real estate development has seen a full range of world-class hotels anchoring every major real estate development in the region. While governments have created the positive environment for new hotel development, it is primarily the private sector that is building new hotels and resorts in the Arabian Gulf."

The conference is organised by CB Richard Ellis Hotels and MEED Conferences.

At the event, industry leaders will discuss the future of tourism in the region and the drive to encourage inward investment.

The advisory panel includes among others: Sarmad Zok, CEO Kingdom Hotel Investments; Salem bin Dasmal, CEO of Dubailand; Gerald Lawless, managing director of Jumeirah International; James Wilson, president of IFA Hotels and Resorts; Wahid Attala, executive director of Nakheel; Jurgen Baumhoff, CEO of Qatar National Hotels; Jean-Claude Baumgarten, president of World Travel & Tourism Council; and regional directors from international hotel groups InterContinental, Marriott, Movenpick, Rezidor SAS and Rotana.

Already signed up as platinum sponsors are: IFA Hotels and Resorts; Nakheel Company LLC; Kingdom Hotel Investments and Rezidor SAS Hospitality.

Gold sponsors are: Arabian Travel Market; Deloitte; Dubai Festival City; Gullivers Travel Associates; HVS International; Interval International; Jones Lang LaSalle; Jumeirah International; InterContinental Hotels Group; Le Méridien Hotels & Resorts; Marriott International; Movenpick Hotels & Resorts; RCI Middle East; Octopus Travel; RSP Group; Starwood Hotels & Resorts Worldwide and Strategic Solutions.