The number of brand hotel rooms in Saudi Arabia is set to reach 69,300 by the end of 2022, representing a 15 percent year-on-year increase. The figures from Colliers come ahead of the Future Hospitality Summit taking place in Riyadh on 24-25 May.
The organisers of the annual Arabian Hotel Investment Conference, Meed, have released the second annual AHIC Hotel Investment Forecast, which reveals that close to US$30 billion worth of hotel construction contracts will be awarded in the Middle East and North Africa between now and 2023.
Edmund O’Sullivan, Chairman, MEED Events
Edmund O’Sullivan, Chairman, MEED Events, talks to Breaking Travel News at Arabian Hotel Investors Conference 2009 (AHIC).