(MENAFN) Abu Dhabi hotel posted double digit growth in revenue per available room (RevPAR) in January, Arabian Business reported. Strong growth in occupancy levels, in addition to growth in average room rates (ARR) were behind the RevPAR growth. A HotStats survey by TRI Hospitality Consulting shows that Abu Dhabi hotels reported a 7.6 percent growth in ARR, while occupancy increased 5.4 percent to 74.7 percent. Managing director of TRI Hospitality Consulting in Dubai said: "January is typically a robust month of performance for hotels in Abu Dhabi and this year was no exception as continued growth was seen across all key indicators."
(MENAFN) Dubai's Petrixo Oil & Gas said that it plans to build a bio-fuel refinery in Fujairah with an investment of over USD800 million, Arabian Business reported. The company said in a statement that it has completed the preparation of studies, engineering designs and selected the required technologies for the facility. It added that the refinery will have a design capacity of one million metric tons per year of bio-fuel products. The project will be spread over a 460,000 square metres land near the Fujairah Free zone and the Port of Fujairah.
(MENAFN) Passenger demand in the Middle East region increased by over 18 percent in January, Arabian Business reported. Data by the International Air Transport Association (IATA) reveal that demand for the region's carriers surged 18.1 percent, the strongest across all regions. Capacity went up 15 percent from January 2013, whle load factor increased 2.2 percent to 81.1 percent. IATA said: "The Middle East carriers are benefitting from the strength of regional economies and solid growth in business-related premium travel, supported by the performance of internationally trading industries and key economies such as Saudi Arabia and the UAE."
(MENAFN) Dubai's port operator DP World said that it is fast tracking a project to build new facilities in India so as to start operations as early in 2015 as possible, Xinhua reported. A major milestone in the development of the new DP World terminal at India's premier gateway port, Jawaharlal Nehru Port, has been achieved with the ceremonial laying of the foundation stone. The new terminal is to add 800,000 TEUs (twenty foot equivalent container units) of container capacity to the port, which would ease congestion.
(MENAFN) Infrastructure projects in Oman is expected to reflect a high growth on the cement sector, according to Oman Observer. Omani government plans to launch developing transport and social infrastructure projects along with its core oil and gas sector. Industry reports said that demand on cement in Oman is expected to boost at an average annual rate of 6 percent to 2016. Cement producers in Oman has already expanded capacity to the optimum level to cover domestic demand.
(MENAFN) Traffic in air passenger and air cargo is expected to outperform in the Middle East by 2032 compared to all other regions, according to Oman Observer. Air passenger traffic in the Middle East, in terms of Revenue Passenger Kilometres (RPK), is expected to grow to a compounded annual growth rate (CAGR) of 6.7 percent. Air passenger traffic in the Middle East, in terms of Freight Tonne Kilometres (FTK), is projected to reach 7.2 percent CAGR.
(MENAFN) Sales revenue of Danube Group, a leading construction and home interior company in the UAE, was estimated at USD 544 million in 2013, according to Khaleej Times. Revenue rose by up to 17 percent in the second half of 2013, and expects the first half of 2014 to post 15 to 20 percent growth in sales. Danube has made several major projects for expansion in the region in the last year, and could secure significant growth. Rizwan Sajan, founder and chairman of Danube Group, said 40 per cent of the group"s business revenues are solely from the UAE.