Dubai continues to attract world’s top hospitality brands: Maktoum

Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, on Thursday met with Paul Salem, Chairman of the Board of MGM Resorts International, a global leader in hospitality and entertainment.

During the meeting, Sheikh Maktoum Bin Mohammed outlined the UAE’s strategic vision to further raise its status as a top-ranked global tourism and hospitality hub, building on the country’s profile as a unique destination for world-class travel, leisure, and cultural experiences.

Sheikh Maktoum noted that Dubai’s advanced infrastructure, business-enabling policies and regulations, combined with its exceptional global reputation in the industry, continue to attract the world’s leading hospitality brands.

He said the emirate is keen to deepen partnerships with global players like MGM Resorts to advance the Dubai Economic Agenda D33, which aims to position Dubai as a premier global hub for business and leisure, and one of the world’s best cities to visit, live, and work. Discussions also touched on MGM Resorts’ projects in the UAE, which His Highness said signal strong international confidence in the city’s long-term growth prospects and investment attractiveness.

Founded in 1986, MGM Resorts operates 31 premier hotel and gaming destinations worldwide. In 2024, the company reported record consolidated net revenues of $17.2 billion. The group is currently developing a series of major projects in the UAE.The meeting was attended by Hesham Al Qassim, CEO, Wasl Asset Management Group and several senior officials of the group.

Last week, Abdulla Bin Touq Al Marri, Minister of Economy and Chairman of the Emirates Tourism Council, highlighted the continued growth and robust performance of the UAE’s tourism sector. He attributed this growth to the wise leadership’s directives and forward-looking vision, which led to the development of sustainable policies, strategies, and initiatives that drive the sector’s progress.

Tourism remains a key pillar in strengthening the competitiveness and resilience of the national economy, supporting the country’s transition toward an economy driven by knowledge and innovation, he noted.

Minister Al Marri said that hotel revenues in the UAE reached approximately Dhs45 billion in 2024, reflecting a 3 per cent year-over-year growth. Hotel occupancy rates also climbed to 78 per cent last year, ranking among the highest both regionally and globally.

This growth was supported by the opening of 16 new hotels across the seven emirates in 2024, taking the total number of hotels in the country to 1,251 by the end of the year. In addition, the number of hotel rooms also grew, reaching 216,966 by the end of 2024, up 3 per cent.

Bin Touq added, “The UAE continues to advance its national efforts to develop innovative tourism initiatives and projects, while strengthening collaboration with all relevant local and international tourism bodies. These efforts aim to elevate the UAE’s status as the best tourism identity globally by the next decade, offering world-class experiences that further enhance the country’s appeal to visitors from around the world. We are also focused on diversifying special interest tourism offerings, building the sector’s capacities, fostering the participation of Emirati talent, and driving greater investment across all areas of the tourism ecosystem.”

WAM