Riyadh – Mubasher: Saudi Arabia’s hotel sector is expected to continue positive performance in the coming period, Savills said in a recent report titled ‘Saudi Arabia Hotel Sector Report’.
The Middle East’s leading real estate services provider ascribed its growth forecast of the GCC nation’s hotel to the rising demand of tourists, especially in the three sectors of corporate visitors, entertainment, and pilgrim.
“Major hotel groups are driving construction trends across the country as they aim to meet the demands of an ever-increasing number of domestic tourists and international visitors,” Savills’s head in Saudi Arabia David O’Hara stated.
Over the previous three years, famous brands invested in the Saudi hotel sector, including Marriott International, Rocco Forte Hotels, Hilton and Swiss-Belhotel International.
“Improving the transport network for domestic and international travellers is vital for the sustainable growth of tourism in the Kingdom,” O’Hara added.
On a related note, a document by to the World Travel and Tourism Council (WTTC) expected the number of travellers to Saudi Arabia to rise by 4% annually to around 22.1 million in 2025.
Savills, which is listed on the London Stock Exchange (LSE), is an international real estate developer and owns more than 600 branches in over 60 countries in the Middle East, Africa, Asia Pacific, Europe, North America, South America, and the UK.
