The group that owns the Radisson Blu in Dubai Media City and the Regent Emirates Pearl being built in Abu Dhabi has put other projects on hold until the market improves.
Atlas Hospitality said it was instead focusing on its existing assets and expanding its newly launched Pascal Tepper cafe brand.
"These days you need to focus on your projects and make sure they are all profitable," said Siegfried Nierhaus, the managing director of Atlas Hospitality.
"We'll concentrate on what we have. We were [originally] looking at much more than that. We were looking at two or three more hotels. We kept two other restaurant concepts on the side. The capital is not as available as before."
A combination of the global environment and local market conditions means projects that have been designed, such as the Dubai Tower, a hotel originally scheduled to open in 2009 in Dubai Media City, will remain on hold.
Another hotel the company was considering in Abu Dhabi has been shelved too, Mr Nierhaus said.
This year, the company, which is part of the Atlas Group, launched its first Pascal Tepper French Bakery cafe in Dubai Media City.
Atlas Hospitality, which also owns the Certo restaurants in Dubai and Abu Dhabi, now has plans to roll out the patisserie-style cafes, overseen by the French master baker Pascal Tepper, across the Middle East and Asia, with locations including Saudi Arabia, Qatar, Lebanon, Thailand and South Korea under consideration.
The company is likely to partner other investors as it grows the chain outside the UAE. The Dubai outlet is the first Pascal Tepper store outside France.
A flood of food and beverage brands have recently expanded or launched in Dubai, including The Ivy and the home-grown Lime Tree Café. The casual dining segment in the UAE is valued at Dh2.2 billion (US$599 million) a year and is expected to increase 47 per cent to Dh3.24bn by 2015, according to a report by Horizons.
Meanwhile, the Dh500m Regent Emirates Pearl, a joint venture between Atlas and Abu Dhabi's Tourism Development and Investment Company (TDIC), is going ahead despite delays.
It is hoped the luxury property will open by the end of next year, Mr Nierhaus said.
"In Abu Dhabi it will be a very competitive market for sure. You will have now in the last quarter a lot of inventory coming, and in the first quarter of 2012 new inventory coming. We have to see how the market is behaving. The business cycle goes up and down."
Analysts and hoteliers expect hotel rates to come under pressure as new properties open their doors.
TDIC said this year some of its projects had been scaled back or put on hold.
Atlas is in discussions to sign a deal for a three-star hotel in Abu Dhabi where it believes there is a gap in the market for cheaper properties, with so much development having been at the luxury end in recent years, said Mr Nierhaus.
rbundhun@thenational.ae
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COMPANY%20PROFILE
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The specs
Price: From Dh180,000 (estimate)
Engine: 2.0-litre turbocharged and supercharged in-line four-cylinder
Transmission: Eight-speed automatic
Power: 320hp @ 5,700rpm
Torque: 400Nm @ 2,200rpm
Fuel economy, combined: 9.7L / 100km
SPECS
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Company%20profile
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Killing of Qassem Suleimani
On the menu
First course
▶ Emirati sea bass tartare Yuzu and labneh mayo, avocado, green herbs, fermented tomato water
▶ The Tale of the Oyster Oyster tartare, Bahraini gum berry pickle
Second course
▶ Local mackerel Sourdough crouton, baharat oil, red radish, zaatar mayo
▶ One Flew Over the Cuckoo’s Nest Quail, smoked freekeh, cinnamon cocoa
Third course
▶ Bahraini bouillabaisse Venus clams, local prawns, fishfarm seabream, farro
▶ Lamb 2 ways Braised lamb, crispy lamb chop, bulgur, physalis
Dessert
▶ Lumi Black lemon ice cream, pistachio, pomegranate
▶ Black chocolate bar Dark chocolate, dates, caramel, camel milk ice cream
RESULTS
6.30pm Maiden (TB) Dh82.500 (Dirt) 1,400m
Winner Meshakel, Royston Ffrench (jockey), Salem bin Ghadayer (trainer)
7.05pm Handicap (TB) Dh87,500 (D) 1,400m
Winner Gervais, Connor Beasley, Ali Rashid Al Raihe.
7.40pm Handicap (TB) Dh92,500 (Turf) 2,410m
Winner Global Heat, Pat Cosgrave, Saeed bin Suroor.
8.15pm Handicap (TB) Dh105,000 (D) 1,900m
Winner Firnas, Royston Ffrench, Salem bin Ghadayer.
8.50pm UAE 2000 Guineas Trial (TB) Conditions Dh183,650 (D) 1,600m
Winner Rebel’s Romance, William Buick, Charlie Appleby
9.25pm Dubai Trophy (TB) Conditions Dh183,650 (T) 1,200m
Winner Topper Bill, Richard Mullen, Satish Seemar
10pm Handicap (TB) Dh102,500 (T) 1,400m
Winner Wasim, Mickael Barzalona, Ismail Mohammed.
The specs
Engine: 1.5-litre 4-cylinder petrol
Power: 154bhp
Torque: 250Nm
Transmission: 7-speed automatic with 8-speed sports option
Price: From Dh79,600
On sale: Now
Joker: Folie a Deux
Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson
Director: Todd Phillips
Rating: 2/5
The%20specs
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Manchester City transfers:
OUTS
Pablo Zabaleta, Bacary Sagna, Gael Clichy, Willy Caballero and Jesus Navas (all released)
INS
Ederson (Benfica) £34.7m, Bernardo Silva (Monaco) £43m
ON THEIR WAY OUT?
Joe Hart, Eliaquim Mangala, Samir Nasri, Wilfried Bony, Fabian Delph, Nolito and Kelechi Iheanacho
ON THEIR WAY IN?
Dani Alves (Juventus), Alexis Sanchez (Arsenal)
Champions League Last 16
Red Bull Salzburg (AUT) v Bayern Munich (GER)
Sporting Lisbon (POR) v Manchester City (ENG)
Benfica (POR) v Ajax (NED)
Chelsea (ENG) v Lille (FRA)
Atletico Madrid (ESP) v Manchester United (ENG)
Villarreal (ESP) v Juventus (ITA)
Inter Milan (ITA) v Liverpool (ENG)
Paris Saint-Germain v Real Madrid (ESP)
COMPANY%20PROFILE
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Zayed Sustainability Prize
Small Victories: The True Story of Faith No More by Adrian Harte
Jawbone Press