Future focus
Looking ahead, our experts believe 2013 will also be a strong year for Saudi Arabia, in spite of a number of hotels coming online.
“The Saudi Commission for Tourism & Antiquities [SCTA] has put all its energy to pave the road for operators and investors in the hospitality industry in Saudi Arabia,” says Al Bader.
“We have seen, against all odds and surrounding political turmoil, that the Saudi Economy has stood grounds and expected growth in the industry is promising,” adding that large infrastructure projects are expected to drive and enable greater numbers of tourists in the future.
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Meanwhile, Podaras says the architects and contractors involved in these projects will fill the hotels.
Al Bader cites projects such as the Riyadh Metro; Jeddah Airport expansion to triple its capacity; the ongoing expansion project of Mataf (the area around kaaba with a current capacity of 50,000 people per hour, to be increased to 150,000 people per hour after completion); the haram expansion project, Makkah monorail, as well as a number of other road and rail projects as key drivers.
“As all projects in the pipeline do come to light, we may see equilibrium by 2014,” predicts Sharaco’s Al Bader.
However, a more immediate challenge remains: “Hotel operators and investors are in agreement that the challenges will be in the talent acquisition and Saudisation. Both must attract, train, develop, retain and career path the best talent in coordination with various government programmes,” he says.
“For the future of Saudi’s hotel industry it will be very important to have education and training, they’re the most important platforms needed to maintain the momentum of growth of the hospitality sector, and to provide jobs for locals,” concludes Moukarzel.
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