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DUBAI—In June 2011, the global credit crisis hit the Middle East hospitality market hard. Many of the world's largest new hotel projects are in cities such as Dubai and Abu Dhabi, and more than a few had to cut back to skeleton crews or postpone work.

Since the start of 2012, higher oil prices have meant more movement for hotels in this region, though political unrest has still kept down travel. However, Dubai received a large spark in February, with Bethesda, MD-based Marriott International Inc. confirming it will open the world's tallest hotel there in the fourth quarter. The 1,608-room JW Marriott Marquis Dubai is being developed by the locally based Emirates Group airline company.

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