The continued growth of the hospitality industry in the Middle East is highlighted once again in the latest monthly data from STR. Overall, the region has 154,576 new rooms in 550 hotels currently under contract. This represents a 23 per cent increase in rooms compared with June 2015.
Saudi Arabia reported the most rooms under construction, with 35,770 rooms in 81 hotels; followed by the UAE, which reported 26,989 rooms in 93 hotels under construction.
Qatar and Egypt also reported more than 5,000 rooms under construction, with 7,125 rooms in 30 hotels in Qatar, and 6,095 in 18 hotels in Egypt.
Dubai is driving the boom in the UAE hotel industry. With only four years until World Expo 2020, hotel rooms in the emirate are projected to witness an exponential growth to accommodate the expected 20 million visitors
JLL, a leading real estate investment and advisory firm, is predicting that Dubai will see a massive increase of 28,000 new hotel rooms by 2018. With the city’s hotel industry already hitting the 100,000 room milestone, Dubai is firmly on course to emerge as a top 10 global destination in terms of available hotel supply.