Christopher Lund, Collier International MENA, head of hotels, has said that approximately 10,000 branded keys are expected to enter the Saudi market, with most hotel openings in 2019 taking place in Riyadh and Makkah.
Speaking to exclusively to Hotelier, Lund said that the upcoming mega-projects, the Saudi market can expect to witness new and exciting hospitality development projects being announced soon.
Lund also said that the recent flurry of new openings in Saudi Arabia over the past year means there was a slight drop in RevPar for most of the country’s cities in 2018. Although Lund cited increased competition as the reason for this, he was more optimistic about the future.
“The market is expected to experience a gradual increase in performance in the mid to long-term,” he said. “The increase of new demand generators, opening of heritage and cultural attractions, mega-malls, entertainment venues, events and activities will all have a significant role in attracting inbound tourists as well as retaining domestic tourists within the country.”
Find out more about the Saudi Arabian market update in the upcoming April issue of Hotelier Middle East.
Watch the video below to see why Saudi Arabia's hospitality tourism sector is booming.
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