UAE leads MEA hotel room construction pipeline.
The Middle East and Africa's (MEA) hotel sector is booming, with a total of 1,066 properties in the pipeline as of October, accounting for 266,602 rooms, according to new data.
Of the total, about 423 hotels (127,177 rooms) are under construction in the Middle East - up 27.4 per cent compared to October 2017, while 139 hotels (25,983 rooms) are under construction in the African region - a decline of 2.3 per cent compared to the same month last year, the October Pipeline Report from STR Global showed.
The UAE topped the MEA list for the largest number of rooms under construction with the total put at 54,371 rooms, which is 33.5 per cent of the existing supply.
Two other markets reported more than 10,000 rooms under construction: Saudi Arabia (48,224 rooms) and Qatar (11,503 rooms).
The report also highlighted projects in the final planning and planning stages. A total of 31,464 rooms in 127 hotels were registered in the final planning stage in the Middle East, up 66 per cent compared to the same month in 2017, and 48,416 rooms across 191 hotels were recorded in the planning stage, a slight increase of 0.8 per cent over October 2017.
Africa recorded a 45.6 per cent jump in projects under the final planning stage, with 11,326 rooms spread across 65 properties. Hotels in the planning stage totalled 121, with total rooms reaching 22,236 - a 7.3 per cent increase over the same period last year. - TradeArabia News Service
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|Publication:||TradeArabia (Manama, Bahrain)|
|Date:||Nov 14, 2018|
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