Up until recently, the only thing holding back the major players in the timeshare resort industry from developing in Dubai was the lack of laws to regulate the business. Now that the regulatory obstacle has been resolved, both Marriott and Wyndham have spoken up. "Speaking in advance of the Global Travel and Tourism Summit that is taking place in Dubai on April 21, 2008, Steve Holmes, Chairman and CEO of Wyndham Worldwide, parent company of Group RCI, the world leader in timeshare exchange, explained just why the leisure real estate sector in the region stands to gain through the establishment of local timeshare regulations." (AME Info)
And, from ArabianBusiness.com comes yesterday's story of a joint venture in Dubai involving Marriott: "In a defining moment for the high growth hospitality sector in the UAE, Omar Al Futtaim, CEO of Al-Futtaim Group and J.W. Marriott Jr., Chairman and CEO of Marriott International, Inc., announced a Joint Venture agreement today to launch Marriott Vacation Club, Dubai Festival City, the first Marriott Vacation Club resort in the Middle East - and the largest outside North America."
With these two - Marriott and Wyndham - getting the ball rolling Dubai may in fact turn in to a major destination. But, will the extravagant buildings and opulent furnishings be enough? Will it be just a "novelty" item?
Time will tell.
PS: As an update, Marriott is expanding their hotel presence in the Middle East at a stunning rate: "In the Middle East alone, the company expects to expand its current portfolio of properties from 26 to 65 through 2011. With the signings involving nine properties and 2,000 rooms, Marriott's Middle East hotel pipeline now stands at 39." (from the Earth Times, press release by Marriott International, Inc.)