Firmly established as a hospitality investment hotspot, the GCC is now witnessing new industry trends, including growth beyond the luxury segment. These efforts to boost visitor numbers by broadening the tourism offering are already paying dividends in key regional destinations, as Kostas Nikolaidis, Middle East and Africa executive for STR, explains.
The hospitality industry plays a vital role in the economic development of major cities around the world. This is apparent in the case of Cairo, Makkah, Doha, Manama, Abu Dhabi and Dubai, as per the latest findings from the EY Middle East Hotel Benchmark Survey.
Radisson Hotel Group has signed 11 hotels, resorts and serviced apartments in 2023, solidifying its presence in the Middle East.
Furukawa Electric, a prominent Japanese manufacturer specializing in comprehensive communication network infrastructure solutions, is attuned to evolving consumer demands. In this article, they address the trend that center on catering to the glamping needs of the “Instagrammable” generation.
Marriott International, Inc. has reinforced its positioning in Turkey with the announcement of 13 deal signings comprising over 2,000 rooms. The signings are expected to further enhance the company’s footprint in the country, where it currently has a portfolio of 48 properties and nearly 8,000 rooms across 21 brands.
RAK National Hotels LLC (RAKNH) has added the 300-key Marjan Island Resort & Spa from Manazil Group to its portfolio of hospitality and leisure assets.
Hilton continues its expansion across Saudi Arabia with the signing of Hilton Dammam Airport, its first airport hotel in the country. The 273-key property will be completed in partnership with Al Musbah Group and Damman Airports Company (DACO).
Having cemented its status as a global tourist destination, the region is well placed to attract new investment for the industry, following a swift post-pandemic rebound marked by impressive visitor numbers, huge project pipelines and the introduction of business-friendly initiatives, as Kostas Nikolaidis, Middle East and Africa executive for STR, explains.
Gilda Perez-Alvarado, the Global CEO at JLL Hotels and Hospitality, leads a specialized team of cross-border investment sales professionals based across the Middle East, Asia-Pacific region, the Americas and Europe. Here, she shares her insights into the hospitality landscape.
Hilton has unveiled its plans to open over 50 new hotels across 10 of its brands, making the country the company’s largest pipeline market in Europe, the Middle East and Africa (EMEA). Hilton has accelerated its growth strategy in Saudi Arabia in recent years, announcing multiple signings as the company works towards its plans to increase its portfolio to more than 75 trading properties across the country.