Countries within the Middle East with the best variety of initiatives within the building pipeline on the This autumn shut are Saudi Arabia with record-high challenge counts of 243 initiatives/67,618 rooms and the United Arab Emirates (UAE) with 104 initiatives/29,210 rooms.
PORTSMOUTH, NH – According to the This autumn 2022 Middle East Construction Pipeline Trend Report from Lodging Econometrics (LE), on the finish of the quarter, LE analysts report that the lodge building pipeline within the area stands at 549 initiatives/143,637 rooms. Hotel improvement within the Middle East is ramping up as buyers start to see alternative within the area once more. New challenge bulletins (NPA) within the area continued to development upward all through 2022, closing the quarter at 67 initiatives/19,837 rooms and rising 56% YOY. Additionally, the Middle East had a document variety of new motels open within the fourth quarter, closing out the 12 months with 81 new motels opened in 2022, accounting for 17,736 rooms.
At the shut of the fourth quarter, initiatives presently below building stand at 304 initiatives/86,440 rooms. Projects scheduled to start out building within the subsequent 12 months are at 103 initiatives/27,325 rooms, up 20% and 19% respectively, year-over-year (YOY). Projects within the early strategy planning stage are at a record-high 142 initiatives/29,872 rooms, with a 15% improve in initiatives YOY and a 21% YOY improve by rooms.
Countries within the Middle East with the best variety of initiatives within the building pipeline on the This autumn shut are Saudi Arabia with record-high challenge counts of 243 initiatives/67,618 rooms and the United Arab Emirates (UAE) with 104 initiatives/29,210 rooms. Egypt follows with document excessive challenge and room counts of 87 initiatives/21,672 rooms, then Dubai with 70 initiatives/21,790 rooms, and Qatar with 48 initiatives/11,589 rooms.
The high three cities within the Middle East, with the most important lodge building pipelines at This autumn, are situated in Saudi Arabia. Provincial with 96 initiatives/23,182 rooms; Riyadh with document challenge and room counts of 73 initiatives/14,770 rooms; and Jeddah with 46 initiatives/10,179 rooms. These are adopted by Doha, Qatar, with 42 initiatives/10,091 rooms, and Cairo, Egypt with 31 initiatives/6,638 rooms. In the Middle East, 52% of the initiatives and 45% of the rooms within the building pipeline may be discovered inside these 5 cities.
At 2022 year-end, Hilton has probably the most initiatives within the pipeline within the Middle East, with a document 99 initiatives/25,353 rooms. Next is Marriott International with 77 initiatives/22,884 rooms, Accor with 74 initiatives/19,553 rooms, InterContinental Hotels Group (IHG) with document challenge and room counts of 63 initiatives/15,143 rooms, then Rotana Hotels, Inns & Suites with 17 initiatives/5,172 rooms.
The main pipeline manufacturers for these firms are Doubletree by Hilton with 28 initiatives/6,693 rooms and Hilton’s Garden Inn model with 18 initiatives/5,826 rooms; Marriott’s Courtyard model with 14 initiatives/3,735 rooms and Marriott Hotel with 7 initiatives/2,445 rooms; IHG’s InterContinental model with record-high challenge counts of 15 initiatives/3,920 rooms and Hotel Indigo with 12 initiatives/2,552 rooms; Accor’s Novotel with 10 initiatives/2,528 rooms and Movenpick with 9 initiatives/2,181 rooms; Rotana Hotels, Inns & Suites’ Rotana model with 6 initiatives/1,919 rooms and Rayhaan with Hotel & Resort 5 initiatives/1,358 rooms.
In This autumn 2022, 33 new motels, accounting for six,452 rooms, opened within the Middle East. The LE forecast for brand new lodge openings continues to rise with 123 new motels/30,113 rooms anticipated to open in 2023 and 116 new motels/29,085 rooms forecasted to open in 2024.
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