Thanks 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 latter posted its highest September occupancy since 2016, according to data from CoStar—which provides online real estate marketplaces, information, and analytics in the property markets—reaching 77.6 percent, a 10 percent jump year over year. (Aside from three days, occupancy remained above 70 percent throughout the month.) Additionally, CoStar reported that ADR was Dubai’s highest since September 2017 at $125.
