The Emirates Group released its 2022-23 Annual Report, reporting its most profitable year ever on the back of strong demand across its businesses. Emirates achieved new record profits, a complete turnaround from its loss position last year. Both Emirates and dnata saw significant revenue increases in 2022-23 as the Group expanded its air transport and travel-related operations following the removal of nearly all pandemic-related restrictions around the world. For the financial year ended 31 March 2023, the Emirates Group posted a record profit of AED 10.9 billion (US$ 3.0 billion) compared with an AED 3.8 billion (US$ 1.0 billion) loss for last year. The Group’s revenue was AED 119.8 billion (US$ 32.6 billion), an increase of 81% over last year’s results. The Group’s cash balance was AED 42.5 billion (US$ 11.6 billion), the highest ever reported, up 65% from last year mainly due to strong demand across its core business divisions and markets. HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates airline and Group, said: “We’re proud of our 2022-23 performance which is not only a full recovery, but also a record result. This achievement would not have been possible without HH Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister, and Ruler of Dubai, whose leadership has been critical to our success today and through the years. The architect of Dubai’s progressive economic policies, HH Sheikh Mohammed is also the engine behind the Emirates Group’s trajectory. Without his drive and support, Emirates will be half the size of what we are today.” He added: I’m proud of the Emirates Group’s performance for 2022-23, and our contribution to the restoration of air transport and tourism across the markets …

Emirates announced it has committed US$ 200 million to fund research and development (R&D) projects focussed on reducing the impact of fossil fuels in commercial aviation.  This is the biggest single commitment by any airline on sustainability, with funds to be disbursed over 3 years. Emirates will identify partnerships with leading organisations working on solutions in advanced fuel and energy technologies. Sir Tim Clark, President Emirates Airline said: “We are ring-fencing US$ 200 million to invest in advanced fuel and energy solutions for aviation, which is where airlines currently face the biggest impediment in reducing our environmental impact. We looked long and hard at the reality we face in commercial aircraft and engine technology, fuel supply chain, and our industry’s regulatory and eco-system requirements. It’s clear that with the current pathways available to airlines in terms of emissions reduction, our industry won’t be able to hit net zero targets in the prescribed timeline. “We believe our industry needs better solutions, and that’s why we’re looking to partner with leading organisations on R&D. Our aim is to contribute meaningfully to practical solutions for the long-term sustainability of commercial aviation.” Sir Tim added: “Until viable solutions can be found, Emirates will continue to implement environmentally responsible practices throughout our business, including uplifting SAF where feasible, ensuring efficient fleet operations, and inducting modern aircraft into our fleet. Our US$ 200 million fund is earmarked for R&D, and not for operating costs like the purchase of SAF or carbon offsets to tick regulatory boxes – activities we consider business-as-usual.” Emirates’ Environmental Sustainability Executive Steering Group will oversee disbursements from the fund, with support from technical experts. Emirates’ long-standing environmental policy and strategy focusses its activities on 3 …

Saudi Arabia’s Tourism Development Fund (TDF) announced the signing of a financing agreement with Shada Real Estate Development and Investment Company. The agreement is to establish a 4-star boutique hotel featuring 110 hotel rooms in Jeddah, one of the targeted tourist destinations. The hotel will be designed with a mix of the architectural styles of Makkah region and the local style. The announcement of this agreement coincided with the Future Hospitality Summit – FHIS – held in Riyadh from May 7 to May 9, 2023, which witnessed the presence of a large number of government dignitaries and officials of the tourism and hospitality industry, as well as a group of prominent developers, investors, hotel owners and operators, to discuss the prospects of growth and development of the tourism and hospitality sector in the Kingdom. The hotel will be characterised by its design, inspired by the local style mixed with architectural touches specific to the Makkah region. Shada Development and Real Estate Investment aims to revive, preserve and highlight the essence of the cultures of the various regions in the Kingdom, especially the architectural cultural heritage of the city of Jeddah. TDF’s agreement with Shada Hotels will contribute to the growth of the Kingdom’s economy and achieve the goals set out within the National Tourism Strategy. Qusai bin Abdullah Al-Fakhri, CEO of the Tourism Development Fund, said: “TDF’s purpose is to be the main enabler for investors, in order to serve the objectives of the National Tourism Strategy. This agreement with our partner Shada Company is one of the ways in which the Fund is helping to activate tourism destinations in the Kingdom, which will contribute to supporting investment and motivating …

Rua Al Madinah Holding company signed an agreement with Accor for the operation of multiple premium and luxury hotels within Rua Al Madinah Project, which is currently underway, at the area just east of the Prophet Mosque in Madinah. Under the terms of the agreement, Accor will operate three hotels which would add over 1,000 hospitality units to the city of Madinah, which include 142-keys Fairmont and 120-keys Fairmont residence, in addition to 466-keys Swissôtel hotel and 328-keys Novotel hotel. “We are delighted to partner with a leading hospitality group that’s known in the world over for its bespoke and inimitable style,” said Al Juhani, Rua Al Madinah Holding Company CEO. “The three new brands will enhance the appeal of the project’s master plan and help us offer a broad selection of hospitality options to the city’s visitors, providing something for everyone that meets their need and budget and enrich their experience.” Rua Al Madinah Holding aims to enrich the experience of all visitors to Madinah and contribute to the achievement of Vision 2030’s goals of raising the holy city’s hospitality capacity to be able to accommodate 30 million visitors by the year 2030. The signing took place on the sidelines of Future Hospitality Summit, in Riyadh from 7-9 May. The agreement was signed by Ahmed Al Juhani, Chief Executive Officer of Rua Al Madinah Holding company, and Duncan O’Rourke, Accor’s CEO for the Premium, Midscale, and Economy Division for Middle East, Africa, and Asia Pacific. As one of the world’s largest hospitality groups, Accor operates more than 5,300 properties in over 110 countries.

Dur Hospitality has announced signing a partnership agreement with Smart Zone Real Estate Company. The agreement aims to set up a Limited Liability Company (The Project Company) to construct and operate an innovative hotel in Riyadh. As per the agreement, The Project Company will develop and operate the first full-fledged smart hotel in the Kingdom. The Project Company’s capital will be contributed according to the ownership percentage of each party. Commenting on this milestone, Mr. Feras Albanyan CEO of AQALAT stated: “We are excited to partner on this project with Dur Hospitality, one of the leading national companies in hotel development and operation in the Kingdom.” For his part, Dur Hospitality CEO Mr. Sultan Al-Otaibi stated, “Dur has diligently worked on the studies required to set up The Project Company which will embody Dur’s strategic expansion roadmap and its role in the Saudi hospitality’s digital transformation journey. The hotel will embrace next-generation technologies with ultra-modern digital designs, in line with the top international standards. This JV supports Dur Hospitality’s direction to expand strategic partnerships with leading institutions in the Kingdom to develop top-notch hotels and increase the contribution of the tourism sector to the Kingdom’s GDP, in line with Saudi Vision 2030. Dur is very happy to join hands with Smart Zone Real Estate Company to develop this outstanding project.” The two parties signed an MOU in October 2022, followed by the preparatory studies for the establishment of The Project Company to develop and operate a state-of-the-art hotel in the Kingdom.

Qatar Tourism hosted the World Association of the Exhibition Industry (UFI) conference for the Middle East and Africa region, which came to Doha for the first time from 9 to 11 May. This year’s edition of the prestigious conference, the Middle East’s largest gathering of business events experts, attracts representatives of business events stakeholders including government entities, conference promotion bureaus and some of the region’s leading tourism industry oversights. Hosting the conference is a key step for Qatar’s tourism sector, where specialized tourism sectors such as conferences, travel incentives, exhibitions and meetings are of vital importance, as part of efforts to achieve the ambitious goal of the Qatari tourism industry of increasing the number of arrivals to Qatar. His Excellency Mr. Akbar Al Baker, President of Qatar Tourism and Group Chief Executive Officer of Qatar Airways, said: “We are delighted to host this prestigious conference in Qatar for the first time. We have a great ambition to become a leading global destination for hosting business events that is a key pillar of Qatar’s Tourism Strategy 2030. Qatar’s strategic location, award-winning airline and airport, the country’s visa facilities and state-of-the-art exhibition and conference facilities make it an ideal choice for business visitors who want productive, enjoyable and seamless journeys.” Held under the theme ‘Towards Sustainable Growth’, this year’s edition of the conference presents actionable strategiesand solutions that can help business leaders achieve their goals in terms of combating climate change. During its sessions, the conference is expected to present a variety of interviews and meetings and lively discussions involving prominent figures and representatives from the business events industry.

Wego recently signed a new partnership with Egyptian Tourism Authority as part of its efforts to boost tourism in the region. This partnership is aimed at promoting Egypt’s rich history, culture, and tourism opportunities. Through this campaign under the theme “In Egypt, your expectations are history”, we will work closely with Egyptian Tourism Authority to promote this campaign on all our marketing channels and bring travelers the best of Egypt’s summer and Eid Al Adha celebrations, including festivals, events, and attractions. Mamoun Hmedan, CCO and MD, MENA and India, Wego, said: “We are thrilled to announce our new partnership with Egyptian Tourism Authority. Egypt is a perfect destination for travelers looking for a mix of history, culture, and adventure. Summer and Eid Al Adha are the ideal times to visit Egypt. We have recorded over 24 million searches from MENA to Egypt between 1 January to 27 April 2023 and we expect to see a surge around the Eid Al Adha period.” Wego will be presenting its users with a comprehensive guide highlighting the best places to visit, things to do, and experiences to enjoy. To reward travelers, a social media competition will run online to give people the chance to visit this must-see destination. Egypt has a variety of activities and experiences to offer visitors during summer and Eid Al Adha. Travelers can explore ancient monuments as Egypt is home to some of the world’s most iconic ancient monuments, including the Great Pyramids of Giza, the Sphinx, and the temples of Luxor and Aswan. Amr ElKady, CEO of Egyptian Tourism Authority, commented: “We are excited to partner with Wego for another year. With Egypt’s rich cultural heritage, diverse landscape, …

The 22nd edition of Airport Show was opened in Dubai amidst brighter outlook for complete and sustainable recovery, growth of passenger demand and focus on future mobility, sustainable infrastructure and innovation. His Highness Sheikh Ahmed bin Saeed Al Maktoum, President of the Dubai Civil Aviation Authority, Chairman of Dubai Airports, and Chairman and Chief Executive of Emirates Airline and Group inaugurated the annual Airport Show, the world’s largest airport event, at the Dubai World Trade Centre. His Highness said: “The airport industry has come back almost to its full strength and picked up the lost growth momentum in most parts of the world. The construction of new airports and expansion and upgrading of existing facilities has gained pace to ensure airports meet the future demand as well as the needs and expectations of travelers.” After opening, His Highness toured the exhibitors’ pavilions, during which he was accompanied by a number of senior officials from the aviation sector from inside and outside the country, where he was briefed on the technologies and devices showcased by more than 150 international companies from 20 countries around the world. His Highness added: “As the region’s airports look to maintain their status as top global hubs and attract a growing number of travelers, they are investing in the latest of technologies and concepts – biometrics, the Internet of Things, and more recently AI – to deliver an airport experience that exceeds the expectations of their customers, makes aviation sustainable, and keep them ahead of the competition.” The trade show with the theme, ‘Together in Innovating Future Sustainable Airports,’ is the world’s largest annual airport industry B2B platform. This year more than 100 hosted buyers are …

Traffic at Dubai International (DXB) has reached 95.6% of 2019 levels with passenger numbers exceeding 21.2 million in the first quarter of the year. This follows DXB’s strong showing last year during which the airport clocked 66m passengers to retain its position as the world’s busiest international hub for the ninth year running. DXB’s passenger traffic totalled 21,256,489 during the first three months of the year, up 55.8% compared to the first quarter of 2022, and marking the first time since the fourth quarter of 2019 when average monthly traffic reached the 7-million passenger-mark. March was the busiest month in the first quarter with 7.3 million passengers, which is also the highest monthly traffic since January 2020 when DXB recorded 7.8m passengers. DXB is currently connected to 234 destinations across 99 countries via 89 scheduled international carriers. India remained DXB’s top destination country with passenger traffic reaching 3m, followed by Saudi Arabia (1.6m), the UK (1.4m) and Pakistan (1m passengers). Other countries of note include the US (840K passengers), Russia (729K) and Germany (628K), while the list of top cities by passenger numbers was led by London (890K passengers) Mumbai (645K), and Jeddah (641K), followed closely by Riyadh (604K passengers). DXB handled a total of 400,015 tonnes of cargo during Q1, a contraction of 23% compared to the first quarter of 2022 during which the hub had handled 519,555 tonnes of airfreight. Total flight movements during Q1 reached 100,840, a year-on-year increase of 23% and 1.6% higher than Q1 of 2019 when DXB recorded a total of 99,197 movements. With load factors exceeding 2019 levels throughout the first quarter and reaching 80% in March 2023, the passenger per aircraft movement …

Rotana announced its ambitious pipeline across the Kingdom of Saudi Arabia at the Future Hospitality Summit (FHS) 2023, signing four “Edge by Rotana” and one “Rayhaan by Rotana” property in partnership with Memar Development & Investment, a leading real estate development company specialized in the hospitality development guided by the motto “Developing to enhance life”. Guy Hutchinson, President & CEO of Rotana, and Eng. Abdulaziz Al Meqren, CEO of Memar Development & Investment, were both present at the official signing of the agreement at FHS’s Global Stage on Tuesday, 9 May 2023. Commenting on the partnership, Hutchinson said: “Saudi Arabia presents one of the fastest-growing markets in the region, increasingly establishing itself as a leading tourist destination. These new properties located in the heart of Riyadh include a mix of hotels and serviced apartments, offering our guests diverse options to suit their varying needs. We are excited to partner with Memar Development & Investment on this project as we work together to deliver on Rotana’s singular brand promise of delivering ‘Treasured Time’ for all our guests.” The five new Riyadh properties will add 618 keys to Rotana’s growing portfolio. This is in line with the group’s target of adding triple the number of rooms it currently runs in the Kingdom to 6,000 over the next four years. The new Edge by Rotana properties will be interconnected, operating in synergy to ensure efficient workflow and deliver the ultimate guest experience. The properties will offer guests a range of dining options as well as recreational facilities such as pools, gyms, treatments rooms and more. Eng. Abdulaziz Al Meqren, CEO of Memar Development & Investment added “We are pleased to sign today with …