Mohamed Alabbar, founder and chairman of Emaar, said occupancy across the group's Dubai hotels has recovered to around 60%, after falling to between 20% and 25% during the war, compared with approximately 83% before the crisis.
Alabbar said demand is beginning to recover, supported by the gradual return of international air capacity, and expects hotel performance to move progressively toward normal levels over approximately the next 12 months.
The recovery follows a period of significant disruption to travel to and through the Gulf, after Dubai's hospitality market had become accustomed to strong growth in recent years.
According to Alabbar, Dubai's hospitality sector had been accustomed to annual growth of around 9% to 10%, making the recent change particularly significant compared with the market's previous performance.
Gulf airlines have gradually increased capacity, while some European carriers are expected to return to the region, potentially providing further support for travel and accommodation demand.