New LE Report: Middle East Hotel Construction Pipeline Rises to 612 Projects/144,222 Rooms
- EDITOR
- May 17, 2024
- 1 min read
LE analysts report that, top Middle Eastern countries with the greatest number of projects are Saudi Arabia, with a record 318 projects, accounting for 75,761 rooms, and Egypt with record-high counts of 103 projects and 24,731 rooms. Following distantly are the United Arab Emirates with 89 projects/22,849 rooms, Qatar with 32 projects/8,053 rooms, and Oman with 32 projects/5,939 rooms.
Cities in the Middle East with the largest pipelines at Q1 are led by the Provincial region with 144 projects/30,266 rooms, Riyadh with record-high counts of 93 projects and 18,715 rooms, Jeddah with a record 59 projects/12,262 rooms, Cairo with 40 projects/8,760 rooms, and Doha with 29 projects/7,365 rooms. Sixty percent of the projects and 54% of the rooms in the region’s total construction pipeline are located within these five cities.
During the first quarter, the Middle East opened 21 new hotels/3,663 rooms. LE is forecasting an additional 86 new hotels/17,748 rooms to open throughout the remainder of the year for a total of 107 new hotels/26,743 rooms to open by year-end 2024. By year-end 2025, LE analysts forecast another 101 new hotels/26,743 rooms to open across the Middle East. Europe will rise with 367 new hotels/52,605 rooms anticipated to open in 2025.
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