Wednesday, April 24, 2024

There are 22.3 thousand hotel rooms under construction in the UAE market


STR Corporation, which specializes in hotel research and consulting, reported that the total number of hotel rooms under actual construction in the UAE reached more than 22.3 thousand rooms at the end of the first quarter of this year.

According to its periodic report, the foundation said the UAE market accounts for more than 18% of the total number of rooms under construction in the Middle East and Africa region, which has registered more than 119,000 rooms, indicating that the UAE is the second largest. Market in the region for hotel rooms in actual construction phase.

The number of rooms under construction in the Middle East and Africa region recorded a 5.8% decline in the first quarter of this year compared to the same period last year, when rooms were booked in the final planning stage. A growth of more than 20% to reach 45.5 thousand rooms.

According to the STR report, rooms in the region are in the initial planning phase, reaching 84,000 rooms, a growth rate of 21% compared to the end of the first quarter of last year.

According to the Ministry of Economy, the hotel market in the UAE succeeded in achieving strong performance levels as the UAE tourism sector quickly overcame the crises associated with the “Covid-19” pandemic and continued to achieve record growth numbers. Exceeded 2019 levels.

The number of hotel establishments in the country reached 1,200 with a growth rate of 5% compared to 2019, while the number of hotel rooms reached more than 200,000 rooms, an increase of 11% compared to 2019.

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In turn, last year the hotel occupancy rate reached 71%, which is the highest in the region and the world, while the hotel revenue reached a qualitative leap in 2022, as the total hotel revenue reached 38 billion dirhams. 23% growth rate compared to 2019.

Bill Dittman
Bill Dittman
"Freelance alcohol fan. Coffee maven. Musicaholic. Food junkie. Extreme web expert. Communicator."

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