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(04 Apr 2021)
According to STR, Saudi Arabia has 73,057
rooms across the three phases of the hotel pipeline, and the
country’s projected 67.1% increase in room supply over the next
three years is the highest among the world’s 50 most populated
countries.
Of the total rooms in the pipeline as of 11 March
2021, 16,965 were scheduled to come online over the duration of
2021. The 67.1% increase assumes completion of all projects in
construction, final planning and planning.
“Saudi Arabia’s growth aspirations, along with the
strength of other Middle East hospitality markets such as Qatar
and the United Arab Emirates, is further validation that the
region continues to emerge as a global tourist destination,” said
Philip Wooller, STR’s area director for the Middle East/Africa.
“Such growth is a testament to the strength and prospectus of the
nation’s strong cultural and economic resources.”
While a significant portion of Saudi Arabia’s
pipeline activity is concentrated in Makkah (28,052 rooms under
development), several other submarkets across the country are
expected to increase hotel supply by 50% or more.
See also:
Marriott Signs Three Hotels in Saudi Arabia,
First Grand Hyatt Hotel in Saudi Arabia Soft Opens
and
Mandarin Oriental Takes Over Luxury Hotel in Riyadh, Saudi Arabia.
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