It’s been a transformative year for the industry, prompting those in the hotel market to question their long-term strategies. Despite two challenging years in which the value of contracts awarded in Saudi Arabia plummeted to about half of the 2010–15 average (MEED), and Dubai’s hotels were impacted from new supply, dampening demand and hindering operators’ ability to drive significant rate gains (HOTSTATS), it’s safe to say that these two markets continue to be the industry’s primary focus. For Saudi, it is due to a series of mega-projects aimed at transforming the economy, including the USD 500 billion Neom project and the new Red Sea project. However, there are doubts about whether external factors may impact these projects and how quickly they will move forward. For Dubai, Expo 2020 is expected to bring in between 25 million and 100 million visitors – the jolt the city has been waiting for – although it’s not certain whether this will be sustainable. What is certain, however, is that the past is not an indicator of what’s to come. This year’s report tries to put it all into perspective.
> MEGA PROJECTS IN THE MENA REGION
Christopher Lund, head of Hotels for Colliers International MENA, gives us a rundown of the major projects in the works across the region
> BOOM, BUST OR BUSINESS AS USUAL?
Dr. Martin Berlin, Middle East Partner and Global Deals Real Estate Leader at PwC shares his insight on two key markets
> TOP HOTELIERS WEIGH IN
HN hears from hoteliers who are coping with the current hospitality landscape and optimistic about its future
> 70 TOP HOTEL PROJECTS
Hospitality News ME takes a look at some of the major projects in the pipeline till 2021