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Nepali billionaire Binod Chaudhary, who is currently developing the Taj Vivanta hotel in Dubai, has said he is "bullish" about the growth of the emirate's hospitality sector despite the tough market conditions.
Chaudhary's diversified CG Group has operations worldwide, with plans to increase its hotel portfolio from 79 at present to 200 by 2020.
In Dubai, he is currently focussed on the 200-room luxury Taj property, which will be located in Jumeirah Lake Towers.
"I continue to remain bullish about the hospitality sector in Dubai. Hospitality is a business we have been doing across the world from New York to China and India and the ASEAN. So we are very confident that until the time that the last room is sold - it will be ours," he told Gulf Business.
While hotels in Dubai recorded a strong average occupancy...