Dubai is undoubtedly one of the most popular travel destinations in the world. There are over one thousand hotel establishments in the city, with over a hundred thousand hotel rooms and hotel apartments. The government is looking forward to attracting over twenty million visitors by 2020 and is also quite actively working on unique real estate projects, such as Port De La Mer apartments and Bluewaters Residences by Meraas. Currently, several hospitality developments are also underway to meet the rising demand.
According to the Department of Tourism and Commerce Marketing (DTCM), the city has already experienced a 5.1% year-on-year increase in visitors. Therefore, as an investor, how can you take advantage of this situation and make money? You should consider investing in hotel rooms and hotel apartments.
Advantages of investing in the hotel room or hotel apartments
Initially, this type of investment was only available to big investors due to the cost that was involved. Nowadays, individuals can now own a hotel room(s) to tap into the booming hospitality industry. Due to the rapid growth of the industry, this type of investment can offer up to 10% annual returns on investment or sometimes even more. This will guarantee a regular stream of income.
Apart from investing in the hotel room or apartment, you can use it for your vacation too. Also, you will have the freedom to sell the property at your convenience. This is a lucrative investment that caters to a wide variety of needs.
A flexible investment option
Hotel room or apartment might be a great investment choice for people who do not have the time or resources to manage their property. The room(s) will be managed like the rest of the hotel rooms by the hotel itself.
Choose the best option
Since there are various hotel companies offering this type of investment option in Dubai, you should be very careful. It is advisable to buy a property only from a reputable and reliable establishment such as Paramount hotels and resorts.
Also, it is important to ensure that the property has facilities that cater for future needs. Are the amenities convenient for your needs? Is the hotel placed in an ideal location close to necessary amenities like banks, hospitals and more? A hotel establishment that is located in a prime location usually has higher occupancy rates.
A development such as DAMAC Towers by Paramount Hotel & Resorts is a great investment opportunity for anyone looking to invest in Dubai.
DAMAC Towers is a mixed development that comprises of hotel rooms and hotel apartments that provide the comfort of home complimented with hotel room luxury and service.
The best part about DAMAC Towers by Paramount Hotels & Resorts is that the hotel suites and apartments are currently being sold off plan. Take up this chance and tap into the growing hotel industry. Fortunately, the payment plan is also very flexible to accommodate different needs.