The UAE’s hospitality sector is fully prepared for the World Expo 2020 by adding 56,701 rooms that represent 33.6 per cent of the country’s existing supply over the next one year.
As per latest available data, the UAE drives the Middle East hotel industry boom with an exponential increase in the number of new hotel projects and rooms, followed by Saudi Arabia with an additional supply of 42,571 rooms.
By 2022, the UAE’s hospitality market is expected to reach $7.6 billion, growing at a five-year CAGR of 8.5 per cent between 2017 and 2022. Qatar has 13,086 rooms in the pipeline, accounting for 47.8 per cent of the current hotel room supply. Oman is next in line by adding 4,129 rooms by 2020.
A recent hospitality industry report said that hotel supply in Dubai, the fourth most visited city in the world, is expected to reach 132,000 this year, and it is aiming to complete 160,000 hotel rooms by October 2020, to welcome 25 million visitors for Expo 2020.
Tags: UAE's hospitality sector
