The number of hotels in Saudi Arabia has grown by 172% over the last 10 years, according to figures from the Saudi Commission for Tourism and Antiquities, released ahead of the Arabian Hotel Investment Conference 2011 (AHIC).
Figures from the SCTA also indicate that based on the current economic growth forecasts there is a requirement for an additional 230,176 hotel rooms across the Kingdom ranging from serviced apartments to luxury five star properties – an 83% increase from the requirements of today.
Eng. Ahmed Al Issa, general director for Licensing and Quality, SCTA, a speaker at this year’s event commented: “The future outlook of the Saudi Arabian hotel industry is today more prosperous than ever, with the enhanced competition through more and more international and local companies of a high calibre investing in the sector with improved services and standards.”
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AHIC 2011, which commences in Dubai on Saturday 30 April and closes on Monday 2 May, will feature a dedicated panel discussion on the Kingdom, entitled ‘Kingdom Investment Spotlight’, the focus of which will be to explore the transformation of the Holy Cities of Makkah and Madinah and the impact this will have on the region’s religious tourism industry and the opportunities for hotel investors and operators.
Eng. Ahmed Al Issa will be joined by other key figures, including Yasir Abu Sulayman, head of Structured Finance, The National Commercial Bank; Muhammad Al Amir, managing director, Riyada International Hotels & Resorts Co. Ltd: and Tarik H. Nabulsi, deputy CEO, Elaf Group. It will be moderated by Chiheb Ben-Mahmoud, Senior Vice President Hotels, Jones Lang LaSalle.
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