JLL reports KSA’s strong performance in the hospitality sector
In the ever-evolving landscape of Saudi Arabia’s hospitality and tourism sectors, recent data from JLL paints a vivid picture of growth and innovation as the government’s investment in tourism development drives the kingdom’s strong performance in the hospitality sector.
Firms foundations and strong fundamentals
Robust project pipelines, strong sentiment and long-term growth strategies look set to continue driving a sound recovery across the region, although financing and construction headwinds remain disruptive forces in the market. Amr El Nady, head of hotels and hospitality MEA and executive vice president, Global Hotel Desk – JLL, charts the hospitality investment landscape, while also highlighting new market opportunities.
3K hotel keys added to the KSA’s inventory in 2021, with 16,000 to come
According to JLL’s latest report, 900 keys were added in 2021 to KSA’s Riyadh, bringing the city’s hospitality stock to 20,000 keys.
Over 10,000 hotel keys to be delivered in the UAE by year-end
The UAE hotel market is continuing its gradual recovery from the pandemic, with the luxury market taking advantage of strong leisure demand.
Eye on Egypt’s hotel project developments landscape
Egypt’s new keys bring the capital’s total stock to around 28,000 keys. Almost 200 keys are expected to be delivered in Q4 2021.
Regional megaprojects & opportunities for hospitality investors
The impact of 2020 on the hotel and hospitality industry will endure for years to come and in many ways will redefine future travel experiences. Amr El Nady, head of hotels and hospitality MEA, executive VP, Global Hotel Desk at JLL, explores hotel investment opportunities in the region.
18,000 new hotel rooms to be added to the UAE’s inventory
The UAE benefited from a domestic-demand led recovery, in addition to a peak in international tourist arrivals late 2020.
How foodservice will emerge post COVID-19
Good foodservice operators who are able to offer a quality, convenient and good value product will survive at one end of the market, while unique, experiential offerings will thrive at the other end.
JLL’s eye on Cairo’s hotel supply
When it comes to Cairo’s hotel supply, it remained stable at 23,000 keys with no additional completions in the first quarter of 2020.
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