ID :
50600
Sun, 03/15/2009 - 12:53
Auther :
Shortlink :
https://oananews.org//node/50600
The shortlink copeid
Dozens of hotels to be built in Gulf by end of 2010
A total of 61 hotel developments worth US$8.8bn are due for completion by the end of next year across the Gulf, despite the global economic downturn, a new survey has revealed.
Findings from the study released on Saturday show that the vast bulk of the hotels will be built in the UAE - with 22 scheduled for completion this year and 13 by the end of 2010.
Five major hotels will be finished in Saudi Arabia this year, with seven more on track for 2010. Qatar will also see five new hotels completing this year and two in 2010.
A total of 61 hotel developments worth US$8.8bn are due for completion by the end of next year across the Gulf, despite the global economic downturn, a new survey has revealed.
Meanwhile, Bahrain has one finishing in 2009 and four in 2010.
Spending on new hotels is at its highest over the two years in the UAE, accounting for US$6.1bn of the combined US$8.8bn.
"These are challenging times for everyone but these latest figures show that hotel suppliers continue to have an expanding market in the Middle East," said Maggie Moore, director of The Hotel Show, which commissioned the survey.
"There will certainly be downwards pressure on hotel rates in the short term, but one has to remember that hotels in the GCC region recorded some of the highest average rates in the world last year," she added.
The Hotel Show showcases the latest products, services and technologies for all aspects of the hospitality and leisure sector. In 2008 the show featured 1,050 exhibitors from 46 countries.
The survey was carried out by the research and database company Proleads for The Hotel Show, which takes place at the Dubai International Exhibition and Convention Centre from May 24 to 26.
Findings from the study released on Saturday show that the vast bulk of the hotels will be built in the UAE - with 22 scheduled for completion this year and 13 by the end of 2010.
Five major hotels will be finished in Saudi Arabia this year, with seven more on track for 2010. Qatar will also see five new hotels completing this year and two in 2010.
A total of 61 hotel developments worth US$8.8bn are due for completion by the end of next year across the Gulf, despite the global economic downturn, a new survey has revealed.
Meanwhile, Bahrain has one finishing in 2009 and four in 2010.
Spending on new hotels is at its highest over the two years in the UAE, accounting for US$6.1bn of the combined US$8.8bn.
"These are challenging times for everyone but these latest figures show that hotel suppliers continue to have an expanding market in the Middle East," said Maggie Moore, director of The Hotel Show, which commissioned the survey.
"There will certainly be downwards pressure on hotel rates in the short term, but one has to remember that hotels in the GCC region recorded some of the highest average rates in the world last year," she added.
The Hotel Show showcases the latest products, services and technologies for all aspects of the hospitality and leisure sector. In 2008 the show featured 1,050 exhibitors from 46 countries.
The survey was carried out by the research and database company Proleads for The Hotel Show, which takes place at the Dubai International Exhibition and Convention Centre from May 24 to 26.
