Dubai Gears Up for Grand Diwali Celebrations

Dubai is gearing up for Diwali, the Festival of Lights, on October 31, with grand celebrations planned across major venues. Global Village, one of Dubai’s premier cultural destinations, has already begun transforming its grounds for the festival. Skilled artisans are crafting a spectacular 5-8 meter Rangoli installation in front of the main stage, set to be a major highlight during the festivities.

In anticipation of festive shoppers, the venue has established a dedicated Festival of Lights Market. Vendors are stocking up on traditional items, including clay diyas, festive decorations, Diwali sweets, and Indian jewelry. Entrance areas like the Happiness Gate and Gate of the World are being adorned with illuminated lamp posts to create a traditional Diwali ambiance.Meanwhile, the historic Al Seef district has come alive with the Noor Festival of Lights. A rich cultural program featuring folk music, poetry recitals, and dance performances drew hundreds from the Indian community. A standout moment of the opening celebrations included a performance by renowned nagada maestro Nathoo Lal Solanki, accompanied by Giant Puppet displays.

Students at various Indian-curriculum schools will enjoy a four-day weekend, with some receiving five days off for Diwali celebrations.This year’s festivities begin on October 29 with Dhanteras, while the main Diwali celebration takes place on Thursday, October 31. Several restaurants, online portals, and malls have introduced Diwali-themed decor and exclusive offers.

Event organizers expect these week-long celebrations to attract thousands of visitors, as Dubai continues its tradition of hosting grand multicultural festivities. These preparations reflect the emirate’s commitment to embracing diverse cultural celebrations, especially for the 3.5 million strong Indian expatriate community and international tourists during this festive season. Source: https://www.newsonair.gov.in/dubai-gears-up-for-grand-diwali-celebrations/

Read More........ → October 29, 2024

Indian hospitality investment market projected to reach $413 million in 2024

New Delhi, (IANS): Buoyed by overall infrastructure growth and expanding commercial market, the hospitality investment sector in the country showed robust growth in the first half this year, according to a new report.

Hotel investment transactions reached $93 million and are expected to reach $413 million by year-end — a 22 per cent increase compared to last year, according to latest data from JLL Hotels and Hospitality Group

Top hotel companies led by contributing 44 per cent of the total transaction volume. It was followed by owner-operators at 30 per cent and high-net-worth individual (HNIs), family offices, and private hotel owners at 26 per cent.

According to the report, the positive momentum is set to continue throughout the second half of the year.

Key markets, including Mumbai, Hyderabad, Pune and Chennai, remain dominant, accounting for 78 per cent of the projected transaction volumes.

Tier 2 and 3 markets are likely to contribute the remaining 22 per cent.

Notably, JLL has already facilitated two significant transactions at the onset of the second half of 2024, comprising an operational hotel in Mumbai and a premium hotel land sale in Goa.

“The surge in investor interest for both - operating assets and land sales illustrate the attractiveness of the investment landscape, bolstered by favourable macroeconomic factors, an expanding commercial market, and improved air connectivity,” said Jaideep Dang, Managing Director, Hotels and Hospitality Group, India, JLL.

This positive outlook is further reinforced by the substantial hotel development activity witnessed across various tiers, with over 19,440 keys signed in the first half of 2024 alone, the report mentioned.

Another report earlier this month said that 2,706 new rooms were added in the upscale and premium segment in the first half of this year, amid a notable growth in infrastructure development. Out of these, 994 rooms (37 per cent) were upscale while the remaining (63 per cent) consisted of premium inventories.Indian hospitality industry is on a strong footing marked by a rise in occupancy, new projects opening and a bullish pipeline for the future, according to Skye Hospitality. Indian hospitality investment market projected to reach $413 million in 2024 | MorungExpress | morungexpress.com

Read More........ → October 25, 2024