Close to 450,000 hotel room keys are planned to be delivered in Saudi Arabia by 2030 – meanwhile, the UAE has a combined total of around 200,000 rooms, including Dubai’s 140,000 keys.
The Dubai-headquartered Emaar Hospitality Group on Monday announced that it would open eight new properties in the Middle East and North Africa region in 2023 and 2024, as travel and tourism industry growth drives demand for new hotel rooms, especially in key markets such as Dubai.
The hospitality major, a subsidiary of Emaar Properties, will add Address Jabal Omar Makkah, Vida Dubai Mall, Vida Creek Beach, Palace Dubai Creek Harbour, Address Marassi Beach Resort in Egypt, Vida Marina Resort & Yacht Club Marassi in Egypt, Vida Aljada, and Vida Residences Cairo Gate to its portfolio in the coming quarters.
“We have witnessed successful growth in occupancy rates, with 2022 rates going up from the original 60 percent in 2021 to 65 percent and 74 percent in 2023 thus far. With the increasing demand for hospitality in the region, our expansion plans are aligned to welcome local as well as international tourists,”
an Emaar spokesperson said.
Global real estate consultancy Knight Frank said the volume of hotel room keys planned to be delivered in Saudi Arabia by 2030 is nothing short of incredible, with a total likely stock of close to 450,000 hotel rooms. Meanwhile, the UAE has a combined total of around 200,000 rooms, including Dubai’s 140,000 keys.
“2023 is the year of sustainability in the UAE, and with Emaar Hospitality Group, we want to champion the efforts of the UAE government to make our properties as environmentally friendly as possible.
As an industry leader, we have a responsibility to be more aware of our impact on the environment, and with this in mind, we have introduced a number of measures throughout our hotels and resorts to be more sustainable. Each new opening is being built with sustainability in mind and this is a key factor for us moving forward,”
News Source: Khaleej Times