With self check-in, app-based stay management and other services, we are able to align ourselves with the evolving world. GCC hospitality is expected to witness increased market penetration by the mid-market hotel segment through 2022. Macroeconomic overview In the UAE’s hospitality sector we anticipate that the changing nature of room night demand and sustained development pipeline will result in RevPAR levels weakening over 2019. Just submit your details and we’ll be in touch shortly. The tourism and hospitality sector in the UAE is growing and will get more acceleration leading to the Expo 2020 Dubai to meet the rising demand of visitors travelling to Dubai from over 192 countries. There is a strong need to build on experiential travel and hospitality today.". Other studies, such as The Hotels Market Report by Ventures Onsite, expects 25 million visitors to come to the UAE for Expo 2020 in preparation, while Dubai’s hotel room supply is expected to reach 132,000 in 2019… Agreed! and the main reason of this, UAE Government is playing a big role in the development and management of Tourism. According to Travel and Tourism Economic Impact 2017 by the World Travel and Tourism Council, the total contribution of the travel and tourism sector to the UAE’s gross domestic product (GDP) was AED 159.1 billion ($43.3 billion USD) which is 12.1% of GDP. They are making significant investments into the development of tourism and hospitality infrastructure, including airport expansions to increase the handling capacity of anticipated visitor inflow," said Sameena Ahmad, managing director at Alpen Capital. Dubai, Abu Dhabi is playing a major role in the tourism industry of UAE. Some of their tourism-friendly endeavours are The Louvre Abu Dhabi, Warner Bros theme park, Dubai Frame, Jebel Jais Flight, the heritage area in Sharjah and Dubai Parks and Resorts, among others. In past few months, the government of UAE has taken several steps that produced positive results for hospitality sector. Bahrain and Oman are also expected to grow at a rate higher than the GCC average. Even the holy month of Ramadan was a busy period this time compared to the past.". New COVID-19 Guidelines Announced For Abu Dhabi Businesses Issued, UAE Improves Its Ranking in World Economic Forum’s Energy Transition Index 2020, UAE Ministry Urges Companies to Pay Salaries on Time, Professional License in Dubai – Civil Company, Company Liquidation – License Cancellation in Dubai, Doing Business in the UAE Amidst the Pandemic, All About the Abu Dhabi Freelancer License, Types of Licenses in Jebel Ali Free Zone (JAFZA), Setting Up an Oil and Gas Company in Abu Dhabi, How to Start a Recruitment Agency in Dubai, Your Ultimate Guide to Spa Set Up in Dubai. Hospitality; GCC’s hotel industry can expect a storm before the calm in 2019. Top executives from global hospitality brands shared their expectations and preparedness with Gulf Today during the Arabian travel Market 2019. Digital disruption has become the single-greatest change in the last decade. On seeing the situation, it is highly expected that the said sector will continue growth in upcoming year of 2019. Furthermore, with the Expo 2020 inching closer, we expect an uptick in the hospitality industry, especially from September onwards, which is typically the start of the high season for the segment. In order to take full advantage of this situation, you can contact Riz & Mona Consultancy via our WhatsApp # 971-56-9971225 or email address info@rizmona.com. UAE-based independent hotel management company Aleph Hospitality has identified five key trends expected to impact the development … Read More Wego is upbeat on the MEA's online travel marketplace in the second half and is confident that companies will cash in on the expected international tourist spike. GCC countries have well-defined strategies to develop themselves as preferred travel destinations. Growth in hospitality sector revenue of individual GCC countries is expected to range from 6 per cent to 12 per cent. "This upbeat sentiment can be attributed to the dedication and proactive efforts by the Dubai's Department of Tourism and Commerce Marketing, Sharjah Tourism Board, Department of Culture and Tourism - Abu Dhabi and Ras Al Khaimah Tourism Development Authority to attract more travellers to the nation. Different departments in UAE are responsible for this growth including: Dubai’s Department of Tourism & Commerce Marketing, Department of Culture & Tourism (Abu Dhabi), Sharjah Tourism Board etc. "The UAE, led by Dubai with a volume of new developments in the Middle East, has over 200 projects underway showing GDP growth for hotels and restaurants of 8 per cent year-on-year. (Shutterstock), Sign up to our newsletter for exclusive updates and enhanced content, Sign up to get Al Bawaba's exclusive celeb scoops and entertainment news, UAE Hospitality Industry to Reach $7.6 Billion by 2022, . The change will require a new strategic approach, one which can enable hotels to understand market trends and build the internal capabilities required to succeed in a new landscape. There is a rise in the use of technology across operations in the industry. Raj Sahni, owner and founder of RSG group of companies, said: "As Dubai expands its tourism industry, we see a greater need to enhance our services. The UAE is expected to witness high revenue growth on account of significant investment activities in the tourism and hospitality sector for the upcoming Expo 2020 Dubai. Currently, there are 104 5-star hotels in Dubai. With the current trajectory, it will scale greater heights in the future. You can also email us if you would prefer. Upcoming mega events and government initiatives to boost tourism are the primary drivers behind this growth. Dubai is currently the home to 104 five-star hotels, and we can expect the Emirates' hospitality sector to experience a strong, sustain growth over the coming years with occupancies to reach 35.5 million annually by 2019, representing a 10.2 per cent compound annual growth rate over the next 24 months," points out Arshad Kazi, money master at Xpandretail. In addition, the industry is expected to also see increased adoption of Airbnb-type renting models. ", Deepa Rajan, director for sales and business development at Cozmo Travel, said: "Significant tourism development such as IMG Worlds of Adventure, Dubai Parks and Resorts and cultural attractions like The Louvre in Abu Dhabi, are expected to steadily attract leisure travellers for the decade beyond 2020. Thank you Sabih! Growth in hospitality sector revenue of individual GCC countries is expected to range from 6 per cent to 12 per cent. This provides good opportunities for businesses related to tourism and hospitality sector and there is no doubt regarding growth of these businesses in UAE in future. In the UAE’s hospitality sector we anticipate that the changing nature of room night demand and sustained development pipeline will result in RevPAR levels weakening over 2019. Headlines RESEARCH UAE … Try our corporate solution for free! The UAE hospitality market is expected to reach $7.6 billion by 2022 at a five-year CAGR of 8.5 per cent (2017-2022) and international tourist visits are expected to grow at a five-year CAGR of 4.3 per cent to 25.5 million whereas the hotel supply is expected to grow at a five-year CAGR of 6 per cent to 183,718 hotel rooms, shows Alpen Capital's latest report on GCC Hospitality Industry 2018. In Dubai… With the increase in tourism, revenue per available rate is expected to grow with a 5-year CAGR of 2.1% up to $116 by 2022. Copyright © 2020 Khaleej Times. With the current trajectory, it will scale greater heights in the future.". On a macro level, more favourable terms for new business owners, such as reduced visa deposits, will further strengthen the business environment. The UAE's hospitality industry is upbeat on the second half of 2018 and ready to welcome 2019 on a positive note. - We would love to help you! Already known for its innovative building, style and facilities, the industry has distinguished itself on the world stage. Regional players such as Emaar Hospitality, Rotana, CityMax Hotels and Habtoor Hotels are building room inventories and increasing their construction pipelines at a substantial rate. All Rights Reserved.
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