Countries within the Middle East with the best variety of initiatives within the development pipeline on the This fall shut are Saudi Arabia with record-high challenge counts of 243 initiatives/67,618 rooms and the United Arab Emirates (UAE) with 104 initiatives/29,210 rooms.
PORTSMOUTH, NH – According to the This fall 2022 Middle East Construction Pipeline Trend Report from Lodging Econometrics (LE), on the finish of the quarter, LE analysts report that the lodge development pipeline within the area stands at 549 initiatives/143,637 rooms. Hotel improvement within the Middle East is ramping up as buyers start to see alternative within the area once more. New challenge bulletins (NPA) within the area continued to pattern upward all through 2022, closing the quarter at 67 initiatives/19,837 rooms and rising 56% YOY. Additionally, the Middle East had a file variety of new resorts open within the fourth quarter, closing out the yr with 81 new resorts opened in 2022, accounting for 17,736 rooms.
At the shut of the fourth quarter, initiatives presently beneath development stand at 304 initiatives/86,440 rooms. Projects scheduled to begin development within the subsequent 12 months are at 103 initiatives/27,325 rooms, up 20% and 19% respectively, year-over-year (YOY). Projects within the early starting stage are at a record-high 142 initiatives/29,872 rooms, with a 15% enhance in initiatives YOY and a 21% YOY enhance by rooms.
Countries within the Middle East with the best variety of initiatives within the development pipeline on the This fall shut are Saudi Arabia with record-high challenge counts of 243 initiatives/67,618 rooms and the United Arab Emirates (UAE) with 104 initiatives/29,210 rooms. Egypt follows with file excessive challenge and room counts of 87 initiatives/21,672 rooms, then Dubai with 70 initiatives/21,790 rooms, and Qatar with 48 initiatives/11,589 rooms.
The high three cities within the Middle East, with the biggest lodge development pipelines at This fall, are positioned in Saudi Arabia. Provincial with 96 initiatives/23,182 rooms; Riyadh with file challenge and room counts of 73 initiatives/14,770 rooms; and Jeddah with 46 initiatives/10,179 rooms. These are adopted by Doha, Qatar, with 42 initiatives/10,091 rooms, and Cairo, Egypt with 31 initiatives/6,638 rooms. In the Middle East, 52% of the initiatives and 45% of the rooms within the development pipeline could be discovered inside these 5 cities.
At 2022 year-end, Hilton has probably the most initiatives within the pipeline within the Middle East, with a file 99 initiatives/25,353 rooms. Next is Marriott International with 77 initiatives/22,884 rooms, Accor with 74 initiatives/19,553 rooms, InterContinental Hotels Group (IHG) with file challenge and room counts of 63 initiatives/15,143 rooms, then Rotana Hotels, Inns & Suites with 17 initiatives/5,172 rooms.
The main pipeline manufacturers for these firms are Doubletree by Hilton with 28 initiatives/6,693 rooms and Hilton’s Garden Inn model with 18 initiatives/5,826 rooms; Marriott’s Courtyard model with 14 initiatives/3,735 rooms and Marriott Hotel with 7 initiatives/2,445 rooms; IHG’s InterContinental model with record-high challenge counts of 15 initiatives/3,920 rooms and Hotel Indigo with 12 initiatives/2,552 rooms; Accor’s Novotel with 10 initiatives/2,528 rooms and Movenpick with 9 initiatives/2,181 rooms; Rotana Hotels, Inns & Suites’ Rotana model with 6 initiatives/1,919 rooms and Rayhaan with Hotel & Resort 5 initiatives/1,358 rooms.
In This fall 2022, 33 new resorts, accounting for six,452 rooms, opened within the Middle East. The LE forecast for brand spanking new lodge openings continues to rise with 123 new resorts/30,113 rooms anticipated to open in 2023 and 116 new resorts/29,085 rooms forecasted to open in 2024.
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She holds a Bachelor’s diploma in Communication & Mass Media from Panteion University of Political & Social Studies of Athens and he or she has been editor and editor-in-chief in varied financial magazines and newspapers.