View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
April 18, 2011

GCC Hotel Revenues to Rise

Hotel revenues in the Gulf Cooperation Council (GCC) are expected to rise by 11% per year to reach $22bn by 2012 and $27bn by 2015, according to a forecast by Alpen Capital. The Alpen Capital GCC Hospitality Industry Report predicts that the UAE and Saudi Arabia will continue to be the

By cms admin

Hotel revenues in the Gulf Cooperation Council (GCC) are expected to rise by 11% per year to reach $22bn by 2012 and $27bn by 2015, according to a forecast by Alpen Capital.

The Alpen Capital GCC Hospitality Industry Report predicts that the UAE and Saudi Arabia will continue to be the two largest markets in the region with a combined share of 89%.

According to the report, the annual revenue per available room (revPAR) will stabilise at $173 during 2012-15, whereas the average daily rate (ADR) will reach $257. RevPAR and ADR in the GCC are the highest among global sub-regions.

Hotel occupancy rates for 2012-15 will average at around 67%, according to the report.

The GCC hotel room supply pipeline is currently led by Saudi Arabia, which is responsible for 61% of new rooms underway, followed by the UAE with 29%.

However, the UAE is ahead of Saudi Arabia in rooms under construction, with 62% of all GCC rooms being built for 2011, compared with 16% in Saudi Arabia.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU