Rotana said it expects occupancy levels at the 481-room hotel on Sheikh Zayed Road of no less than 80 percent, the newspaper reported.

The hotelier’s expectations are a far cry from current hotel occupancy levels in the UAE, which have been hit by the global recession as fewer tourists visiting to the Gulf tourism hub.

Occupancy levels currently hover around 60 percent in the UAE, according to hospitality research firm STR Global, with city hotels much worse affected than beach hotels.

Construction of the 333-metre high, 72-floor Rose Rayhaan was completed in 2007, steeling the title of world’s tallest hotel that the iconic Burj Al Arab held for much of the last decade.

Before the write-down, fourth-quarter net profit was 924 million dirhams, compared with a profit of 1.74 billion dirhams a year earlier, the company said in an emailed statement to Zawya Dow Jones.

Full-year profit dropped 54% to 3.06 billion dirhams from 6.58 billion dirhams a year earlier. Revenue declined 10% to 16.02 billion dirhams, Emaar said.

Emaar wrote down 1.77 billion dirhams in goodwill in its John Laing Homes unit amid the financial crisis, and a further 919 million dirhams in properties owned by the company during the quarter. Emaar, which is about 30%-owned by Dubai’s ruling Maktoum family, bought John Laing Homes, one of the largest home builders in the U.S., for $1.05 billion in 2006 in an effort to diversify its business from Middle East real estate.

Emaar, which has projects in countries such as India, Turkey, Syria, Saudi Arabia and Morocco, said it is putting future real-estate projects on hold to stem the oversupply of units in Dubai. The company said it will concentrate on completing all construction projects that are under way.

“Revisiting the project pipeline is a natural response to the new economic realities. We have also been negotiating with our partners to rationalize the project cost benefiting our shareholders and customers,” said Emaar Chairman Mohamed Ali Alabbar, who also heads an economic task force set up to revive Dubai’s financial vitality.

Dubai’s once-booming property market has slowed in recent months and home financing has evaporated, affecting Emaar’s sales and property prices. Home builders in the U.S., where John Laing Homes is based, also are struggling in the credit crisis, triggered by defaults on subprime mortgages.

Emaar’s results fell far below analysts’ expectations. Credit Suisse had forecast that Emaar would post a fourth-quarter net profit of 855 million dirhams and a full-year profit of 5.7 billion dirhams, while investment bank Prime Emirates predicted that Emaar’s fourth-quarter profit would be 2.1 billion dirhams.

“Investors will not react positively to this, despite the fact that the company has done the right thing by writing down its U.S. assets,” said Ayman El Saheb, director of operations at Darahem Financial Brokerage.

Emaar shares closed down 0.5% at two dirhams on the Dubai Financial Market Thursday. Shares in Emaar, the largest publicly traded property company in the Middle East, have plunged more than 80% since the start of last year. Real-estate companies have been among the biggest losers on the region’s stock markets in recent months.

In Dubai, Emaar’s project portfolio includes the Burj Dubai, planned to be the world’s tallest building, which is to open later this year.

Dubai has its own share of hotels and resorts, and this include the Coral Deira Hotel, Gulf Pearl Hotel Dubai and Majestic Hotel Tower. Most of these places have taken the backseat, but are good places to stay in for people who visit this part of the world. Outside the usual accommodation and special packages towards incoming guests both locally and around the world, Dubai also has its share of places to go for the tourists. Known to be a large country, Dubai caters to the local and visiting people in the same way that most countries are today. The overshadowing tag towards this country has become moreover the reason for these accommodation and tourist sites. Catering to the same level of hotel and resort classification, people can still enjoy the local beaches and recreational facilities as well.

Le Royal Meridien Beach Resort and Spa offers the same type of amenities and accommodations that can be found in the world. The presence of casinos, beaches and other known recreational activities are available just the same in this part of Dubai. Catering to both adults and children as well, Dubai is a beautifully structured city that can also offer the same quality of vacation that most top notch vacation sites in the world has to offer. The resources and themes for such site are available nationwide, and only the right amount of exposure is needed to appreciate the said opportunity for the world to see and discover at any point of the year.

One thing that best describes Dubai is that it is known for its climate as well. Beaches that exist in this country are sure to draw a crowd, especially for beach and recreational loving tourists alike. For the conservative people, availing of the accommodations of luxury hotels that are classified in the same way through star level can be filled if only given the chance to visit. More luxury hotels in Dubai or check out the Dubai Hotel Directory to find hotels & resorts online.

Dubai attractions are abounding as well. Tourist sites such as the Dubai Creek, The Grand Mosque and Golf courses that include The Montgomerie and the Emirate Golf Club offer the tourists the same type of activities that any country would have to offer. Shopping malls are also spread all throughout the country and among them, Deira City Center Shopping Mall and Wafi Centre Mall. For the people who love to shop around for items and souvenirs, this is the place for them to be.