Regional Hospitality Investments

15-08-2016 -- admin

Due to the growing focus of Middle Eastern governments on the tourism sector to reach USD 20 million visitors by 2025, and with global business travel spending expected to hit USD 1.6 trillion in 2020, there is a significant increase and interest for hospitality investments in the Middle East. Hence, the region will witness more than 151,000 new hotel rooms. Activity in the hospitality sector is at an all-time high, with a total of more than 200,000 keys in the pipeline in the MEA region. This represents an 18% increase YOY. Dubai retains the leading position in the ME lodging market with 36,523 keys across 96 different projects, whereas Nigeria takes the lead in the African market with 10,222 new hotel rooms

2016-08-15 00:00:00