Finance and Development, Trends
February 22, 2024
Via: Hotel News ResourceThe Q4 2023 Hotel Construction Pipeline Trend Report for the Middle East from Lodging Econometrics (LE) states that at the close of the fourth quarter, the region’s total pipeline stands at 607 projects/145,984 rooms. The region boasts an impressive 11% […]
December 21, 2023
Via: Hospitality DesignThanks to a vigorous development pipeline, the Middle East and Africa region is thriving. Much of that is due to Saudi Arabia’s influx of development (15 hotels with 6,050 rooms) and Dubai’s growth spurt (11 hotels with 2,868 rooms). The […]
Finance and Development, Trends
November 21, 2023
Via: Hotel News ResourceAccording to the Q3 2023 Middle East Construction Pipeline Trend Report from Lodging Econometrics (LE), at the end of the third quarter, the hotel construction pipeline in the region stands at 585 projects/139,582 rooms. Project counts in the region are […]
Finance and Development, Trends
July 10, 2023
Via: Hotel News ResourceAmong key hotel markets in Middle East & Africa, Jordan and Qatar realized the only month-over-month gross operating profit per available room (GOPPAR) improvements, according to STR’s May 2023 P&L data release. Jordan’s GOPPAR level reached US$66.77 in May, showing […]
Finance and Development, Trends
April 19, 2023
Via: Hotel News ResourceKey markets in the Middle East are showing a spike in hotel occupancy on the books during Eid al-Fitr, according to STR’s Forward STAR data. “While typically slower during Ramadan, leisure travel within the Middle East is set to resume […]
Finance and Development, Real Estate
February 23, 2023
Via: Hotel News ResourceAccording to the Q4 2022 Middle East Construction Pipeline Trend Report from Lodging Econometrics (LE), at the end of the quarter, LE analysts report that the hotel construction pipeline in the region stands at 549 projects/143,637 rooms. Hotel development in […]
September 7, 2022
Via: Hotel News ResourceKnight Frank, an independent global real estate consultant, and STR, a provider of benchmarking data and market insights for the hospitality industry, shared key insights into hotel investing ahead of the Future Hospitality Summit (FHS) to be held at Madinat […]
Finance and Development, Trends
August 5, 2022
Via: Hospitality NetIt’s been a rollercoaster ride, but Europe’s hotels are now back to pre-pandemic profit levels, with gross operating profit per available room (GOPPAR) hitting €95.28 in June 2022, slightly higher than the same month in 2019, according to the latest […]
May 16, 2022
Via: Hospitality NetMr. Nasser Al Nowais, Chairman of Rotana, was presented with the Lifetime Achievement Award on 9 May at the Business Traveller Middle East Awards 2022. Exemplifying his commended leadership credentials, Al Nowais is the first person to receive the illustrious […]
Finance and Development, Markets
May 10, 2022
Via: Hospitality NetThe World Travel & Tourism Council’s latest Economic Impact Report (EIR) reveals the Travel & Tourism sector in the Middle East is expected to create nearly 3.6 million new jobs over the next decade. The forecast from the World Travel […]
November 2, 2021
Via: Hospitality NetWorldwide business travel spending looks set to rise by more than a quarter this year and reach two thirds of pre-pandemic levels by 2022, according to the World Travel & Tourism Council (WTTC). The forecast comes in a major new […]
Finance and Development, Markets
October 27, 2021
Via: Hotel News ResourceNew research from the World Travel & Tourism Council (WTTC) reveals the Middle Eastern Travel & Tourism sector should grow by 27.1% this year, slightly behind the global average of 30.7%. WTTC, which represents the global Travel & Tourism private […]
Finance and Development, Markets
September 27, 2021
Via: Hospitality NetDuring the pandemic, hardly any foreign direct investment has entered the Middle East, and the usual truism remains: When foreign private equity does appear, it is because the market has bottomed out or distress has entered the landscape. Heightened competition […]
September 14, 2021
Via: Hospitality NetFor the first time, AHIC will house the four close-knit investment communities of the Arabian Hospitality Investment Conference (AHIC), Saudi Arabia Hospitality Investment Conference (SHIC), Africa Hotel Investment Forum (AHIF) and the Global Restaurant Investment Forum (GRIF) under one roof. […]
Finance and Development, Markets
May 26, 2020
Via: Hotel News ResourceShowing the impact of the COVID-19 pandemic, hotels in the Middle East and Africa reported unprecedented performance lows during April 2020, according to data from STR. U.S. dollar constant currency, April 2020 vs. April 2019 Middle East Occupancy: -58.0% to […]
Finance and Development, Financial, Hotels
February 17, 2020
Via: Hotel ManagementMore than $23bn-worth of hotel construction contracts were due to be awarded in the Middle East and North Africa between now and 2023, according to MEED Projects. The company said that, in the final quarter of last year, development was […]
Finance and Development, Financial, Markets
January 23, 2020
Via: Hotel News ResourceHotels in the Middle East reported mixed 2019 performance results, while hotels in Africa posted positive results across the three key performance metrics, according to data from STR. U.S. dollar constant currency, 2019 vs. 2018 Middle East Occupancy: +2.3% to […]