Some of the efforts to build the image includes the largest historical restoration project in the region — the Heart of Sharjah project. Expected to be completed by 2025, it will feature restored traditional houses, souqs, museums and the Sharjah Centre for Cultural Communication. The government is also working to restore the archaeological sites of Mleiha, the Al Khan fishing village, Al Mahatta airport and former Al Mirqab military camp.
2018 Market, Performance and Challenges
In 2018, Sharjah’s supply is set to grow by an additional 647 keys with the addition of four properties, namely: five-star Al Bait Hotel in the Heart of Sharjah with 53 keys; Four Points by Sheraton in Rifa’a with 225 keys, Aloft Sharjah in Al Majaz development with 270 keys, and Time Hotel Apartments Sharjah, which will offer 99 keys.
Hilton area vice president of operations, Arabian Peninsula & Turkey, William Costley says the hotel company has two hotels in the pipeline in the emirate: DoubleTree by Hilton Sharjah Waterfront Hotel & Suites with 254 suites and serviced apartments which is expected to open in 2020 and the 200-key DoubleTree by Hilton Sharjah Tilal Mall.
The openings, Costley says, will cater to the growing tourists as the emirate works to accomplish its 2021 vision goals. “We foresee burgeoning demand from tourists. The Emirate is also home to a number of major global events such as the Sharjah International Book Fair and international test cricket matches,” Costley adds.
Emaar Hospitality Group, through its partnership with Arada, a joint venture between KBW investments and Basma Group, have come together to launch three new hotels as well as serviced residences in Sharjah’s Aljada.
The hotels include Emaar’s premium brands Address Hotel + Resorts and Vida Hotels & Resorts, and mid-scale brand Rove Hotels.
Emaar has also partnered with the Sharjah Investment and Development Authority (Shurooq) and has signed a management agreement to operate a lifestyle boutique hotel, Vida Al Qasba Sharjah in the heart of Al Qasba.
But despite the steep growth in tourist arrivals and luxury hotel supply, Hewett notes that hotel inventory is likely to put a downward pressure on occupancy and revenue figures in the short term until the new supply is fully absorbed by the market. He also adds that there will be additional downward pressure on key performance indicators which might affect the five-star hotel segment and “pose a challenge on how to maintain market share and differentiate from the new product and facility offering”.
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