image credit: Pixabay

Saudi Arabia and the U.A.E. Lead the Middle East Hotel Construction Pipeline at Q3‘21

November 19, 2021

According to the Q3 2021 Middle East Construction Pipeline Trend Report from Lodging Econometrics (LE), at the end of the quarter, the hotel construction pipeline in the region stands at 545 projects/168,042 rooms. While the number of total pipeline projects has increased over the previous quarter, project counts are down 6% and room counts are down 19% year-over-year (YOY).

Projects presently under construction stand at 350 projects/108,244 rooms, down slightly by 3% by projects and 8% by rooms YOY. Projects scheduled to start construction in the next 12 months are down 8% by projects and 10% by rooms YOY to end the third quarter at 78 projects/18,682 rooms. Projects in the early planning stage are at 117 projects/26,299 rooms.

Read More on Hotel News Resource