Busy years ahead for GCC Hospitality
The remainder of 2020 will bring 135 new hotels and 36,200 additional keys to the Middle East on current estimates – 80 of these schemes are now in the pre-opening phase.
Another 206 properties are scheduled to go live in 2021, bringing 63,719 extra rooms into play.
113 projects are underway for 2022 and will yield 34,334 keys.
The UAE takes the lead on a country-by-country basis with a whopping 226 new hotels on the cards, representing 69,689 additional rooms in total. Saudi Arabia comes in second with 168 projects, although the official key count is a staggering 75,468, hinting at the large average project size in the Kingdom.
Unsurprisingly, Dubai leads the rankings of the Middle East’s top urban growth markets, with 160 upcoming openings and 51,271 rooms being added to the city’s already well-established hotel market. Riyadh follows in a very distant second place with 42 projects and 9,639 keys, and Jeddah places third with 39 launches and 10,213 rooms.
The largest project currently underway in the Middle East is the 3,000-room Red Sea Project in Saudi Arabia.
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