Luxury Holidays Industry Expected to Boom in 2010
After a turbulent economic year in 2009 it looks like the travel sector is well on its way to recovery with more travellers now booking luxury holidays throughout the world and a number of new luxury projects and developments in the pipeline for 2010.
Last year’s global recession drastically affected the travel industry, in particular Caribbean luxury hotels and Dubai hotels, as fewer tourists visited the regions leading tourism number to fall significantly.
However, as the world climbs out of the economic crisis the number of travellers taking luxury holidays is on the increase and tourists are once again booking their stays at luxury Caribbean hotels and Dubai holidays as the luxury travel market recovers.
As well as an increase in luxury holidays, there is a rise in the number of new luxury projects and properties under construction in destinations across the globe.
Las Vegas is leading the way with the private development of an $8.5 billion project, CityCentre, which will feature three luxury hotels designed to boost the city as an attraction for non-gambling tourists seeking luxury holidays.
Despite Ritz-Carlton having to close their Las Vegas property last year, the luxury travel brand will be opening five new hotels this year in Toronto, Lo Angeles, Dubai, Shanghai, and Hong Kong.
Ritz-Carlton will be adding a property to existing luxury Dubai hotels with the opening of the centrally located seven-storey high Ritz-Carlton Dubai which will feature 341 guest rooms and suites, including 124 serviced apartments; a health club; spa; outdoor and indoor swimming pools; three restaurants; ten function rooms; and a1,400 square metre ballroom.
Luxury hoteliers, Six Senses, announced last year that they would be buying “troubled resorts”, and in January 2010 the group stated that they would be opening their first Caribbean property and addition to Turks & Caicos hotels in 2013.
Salt Cay will be home to the new Six Senses resort, residential villas, spa and golf course for visitors looking for Turks & Caicos holidays.
The project will provide one of the most luxury hotels in luxury hotels in Turks & Caicos on one of the only ten inhabited islands in the region, which also remains virtually unchanged from the 17th century.
Six Senses Chief Financial Advisor, Simon Allison, said:
“We believe there will be excellent returns to be made in this sector in the next five years from acquiring top-end properties in strong locations at highly competitive prices.
“We would like to find financial partners that will drive this initiative with us.”
Six senses will also be opening a new spa resort in Marsa Alam for travellers who enjoy relaxing on their luxury holidays in Egypt.The Palace Port Ghalib Resort differs from other Egypt luxury hotels and boasts a 1,700 square metre spa which features 16 treatment areas including two Thai treatment rooms, three couples rooms, a wet treatment room, a gym, traditional hammans, and a sauna and steam room; perfect for visitors who are looking for the chance to unwind and be pampered on their Egypt holidays.
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