News Source: www.arabnews.com
Saudi Arabia has biggest new hotel pipeline in the world
News Source/Courtesy: www.arabnews.com

DUBAI: Saudi Arabia has the world’s biggest hotel pipeline, a report from STR reveals.

The hotel research group said the country’s expected 67.1 percent increase in room supply over the next three years is the highest among the 50 most populated countries.

“Saudi Arabia’s growth aspirations, along with the strength of other Middle East hospitality markets such as Qatar and the United Arab Emirates, is further validation that the region continues to emerge as a global tourist destination,” said Philip Wooller, STR’s regional director. ”Such growth is a testament to the strength and prospectus of the nation’s strong cultural and economic resources.”

STR data shows 73,057 rooms in the Kingdom’s hotel pipeline.

Of the total rooms in the pipeline, 16,965 were scheduled to come online over the duration of 2021.

While a significant portion of Saudi Arabia’s pipeline activity is concentrated in Makkah (28,052 rooms under development), several other submarkets across the country are expected to increase hotel supply by 50 percent or more.

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News Source: www.arabnews.com

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