Dubai accounts for 67.3%

104 hotel projects under construction in the UAE with a capacity of 29.2 thousand rooms

Dubai has recorded 70 hotel projects under construction with a capacity of 21.7 thousand rooms. Archival

Lodging Econometrics, an American company specialized in the real estate consultancy sector, revealed that the UAE is one of the markets that have the largest number of hotel projects under construction in the Middle East, with 104 projects, comprising a total of 29.2 thousand hotel rooms, noting that Dubai alone recorded 70 hotel projects under construction with a capacity of 21.7 thousand rooms, accounting for about 67.3% of the projects, and more than 74.3% of the number of rooms.

The number of hotel projects under development and construction in the region reached 549 projects comprising 143.6 thousand rooms by the end of 2022.

Development & Establishment

Lodging Econometrics, an American company specialized in the real estate consultancy sector, reported that the total number of hotel projects under development and construction in the Middle East reached 549 projects with a total of 143,637 hotel rooms by the end of last year, noting an increase in the number of these projects, as investors began to take advantage of opportunities in the region again.

In a study, the company confirmed that announcements of new hotel projects in the region will continue to trend upward throughout 2022, explaining the completion of 67 projects comprising 19,837 rooms on an annual basis.

She added that the Middle East region witnessed a record number of new hotels that were opened during the fourth quarter of last year, noting that 81 new hotels were opened with a capacity of 17,736 hotel rooms.

Construction Phase

The study showed that at the end of the fourth quarter, hotel projects, which are still in the construction stage, reached 304 projects with a total of 86,440 rooms, pointing out that the hotel projects that are scheduled to start construction during the next 12 months amount to 103 projects comprising 27,325 rooms, an increase of up to 20% and 19%, respectively, on an annual basis.

She explained that hotel projects in the early planning stage also recorded a record, reaching 142 projects comprising 29,872 hotel rooms, which are scheduled to enter the construction phase later, recording an increase of 15% in terms of the number of projects and 21% in terms of the number of rooms on an annual basis.

U.A.E

According to the study, the markets with the largest number of projects under construction in the region by the end of the fourth quarter of 2022 include Saudi Arabia, which recorded 243 projects with a total of 67,618 rooms, followed by the UAE with 104 projects with a total of 29,210 rooms, and Egypt with a record number of projects and the number of rooms, reaching 87 projects with 21,672 rooms.

She pointed out that Dubai alone, in turn, registered 70 hotel projects under construction with a capacity of 21,790 rooms.

Hotel Signs

A study by Lodging Econometrics, an American company specialized in the real estate consultancy sector, showed that by the end of 2022, the Hilton brand owned the most hotel projects under preparation in the Middle East, with a record number of 99 projects comprising 25,353 rooms, followed by Marriott International with 77 projects comprising 22,884 rooms, then Accor with 74 projects comprising 19,553 rooms, then InterContinental Hotels Group with 63 projects comprising 15,143 rooms, and then Rotana Hotels with 17 projects with 5172 rooms.

• The number of hotel projects under development and construction in the region reached 549 projects by the end of 2022.

• 74.3% of hotel rooms under construction in the UAE are acquired by Dubai.