LONDON—The Middle East/Africa hotel development pipeline comprises 432 hotels totalling 118,454 rooms, according to the February 2011 STR Global Construction Pipeline Report.
“The main activity of hotel development in the region takes places across the United Arab Emirates, Saudi Arabia and Oman”, said Elizabeth Randall, managing director of STR Global. “Selected markets will see more than half of their current supply entering the markets over the coming years. Whilst the long-term prospects for the region are good, the new supply will create more challenging market conditions for the short-term. We see a more diverse offering coming into the markets, which were so far dominated by the upscale to luxury properties”.
Among the markets in the region, Abu Dhabi, UAE, will report the largest increase in supply (89.4 percent) if every one of the 13,405 additional rooms in its total active pipeline open. Other markets to expect significant increases in existing supply include: Riyadh, Saudi Arabia (77.2 percent with 4,831 rooms in its total active pipeline); Jeddah, Saudi Arabia (50.5 percent with 3,033 rooms); Muscat, Oman (49.5 percent with 1,931 rooms); and Dubai, UAE (49.2 percent with 28,474 rooms).
About STR Global
STR Global provides clients—including hotel operators, developers, financiers, analysts and suppliers to the hotel industry—access to hotel research with regular and custom reports covering Europe, Middle East, Africa, Asia Pacific and South America. STR Global provides a single source of global hotel data covering daily and monthly performance data, forecasts, annual profitability, pipeline and census information. STR Global is part of the STR family of companies and is proudly associated with STR, RRC Associates, STR Analytics, and HotelNewsNow.com. For more information, please visit www.strglobal.com.
Media contacts:
Jeff Higley
VP, Digital Media & Communications
jeff@str.com
+1 (615) 824-8664 ext. 3318
Rachael Spann Urie
Communications Coordinator
rurie@str.com
+1 (615) 824-8664 ext. 3305
Konstanze Auernheimer
Director of Marketing & Analysis
STR Global
KAuernheimer@strglobal.com
+44 (0)207 922 1961
