Sunday February 24, 2019 06:50

Lifestyle Press Release : 02 May 2017

Emirates opens bigger, better Bangkok Airport Lounge Lifestyle—02 May 17

Bangkok, Thailand: Emirates' premium and loyal customers can now enjoy even greater levels of comfort, hospitality and convenience with the opening of a new, larger Emirates Airport Lounge at Suvarnabhumi Airport. All Emirates First Class and Business

Emaar Hospitality Group Sets New Industry Model in Hotel Management Contracts to Drive Long-Term Value Creation Lifestyle—02 May 17

DUBAI, UAE--2 May--PRNewswire/InfoQuest

Emaar Hospitality Group, the hospitality and leisure business of Emaar Properties PJSC, has introduced an industry-defining model for hotel management agreements.

(Logo: http://mma.prnewswire.com/media/506051/Emaar_Hospitality_Group.jpg )

This is a marked departure from the prevalent fee structure in the hospitality sector, where hotel operators receive a base fee as a percentage of gross revenue and an incentive fee based on the gross operating profit.

The alternative model offered by Emaar Hospitality Group is based only on an incentive fee, which is driven by the operator's ability to generate profits rather than revenues.

In an industry where the majority of global fees earned are linked to revenue, the new model aligns the interests of the owner and operator as it focuses on profit generation.

Olivier Harnisch, CEO of Emaar Hospitality Group, said the new management fee model sets an industry benchmark. "There will be greater responsibility on the operator to drive operating profits that will create sustained value for hotel owners, unlike under the prevailing model, where the operator earns a base management fee regardless of operating expenses.

"The distribution landscape in the hotel industry has changed dramatically and we feel th

Marriott Executive Apartments Sathorn Vista Celebrates 8th Anniversary Lifestyle—02 May 17

Marriott Executive Apartments Sathorn Vista recently celebrated its 8-year anniversary by hosting an exclusive poolside party alongside some tempting activities, performance, foods and booze. Marriott Executive Apartments Sathorn Vista, led by Mr. Adrian