Riyadh’s hotel industry reported its highest average daily rate (ADR) and revenue per available room (RevPAR) level on record, according to October 2023 preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
Saudi developer Red Sea Global will own and operate its own luxury hotel brand, Shebara, in the giga-project, it has revealed.
Dubai’s hotel industry has seen a noticeable jump in occupancy on the books as the market prepares to host the Dubai Airshow and COP28, according to CoStar’s Forward STAR data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
His Royal Highness Crown Prince Mohammed bin Salman bin Abdulaziz, Deputy Prime Minister, and Chairman of the Public Investment Fund (PIF) launched ARDARA to develop its flagship destination "AlWadi" in the Aseer region as its first destination, aiming to be a first of its kind urban lifestyle destination for local and international tourists. AlWadi has been developed in line with the Public Investment Fund's strategy to develop distinctive experiences across the Kingdom, in line with Vision 2030.
The Board of Directors of NEOM, the sustainable regional development taking shape in northwest Saudi Arabia, today announced Leyja, its latest tourism destination, further strengthening and enriching the Kingdom's ecotourism offering.
Dubai’s hotel industry posted its highest September occupancy since 2016, according to preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
Industry-leading Valor Hospitality Partners has been named lead operators of a new, multi-use development in Karachi, Pakistan by AAA. The Octa Karachi development consists of 314 commercial, retail and community spaces and will be Valor’s second property in Pakistan. This brings the global brand’s portfolio to more than 6,000 keys—with more than 900 in the Middle East.
In a significant milestone, the World Travel & Tourism Council (WTTC) and the Ministry of Tourism of Saudi Arabia have announced the extension of their partnership through the signing of a Memorandum of Understanding (MoU).
The Department of Culture and Tourism - Abu Dhabi (DCT Abu Dhabi) has announced a partnership with Erth Hospitality to launch École Ducasse Abu Dhabi Studio, the region’s first institute by École Ducasse whose founder is Chef Alain Ducasse, this coming December.
Marriott International, Inc. announced it has signed an agreement with NEOM to open two luxury properties in Trojena, NEOM’s mountain destination located in the north-west region of Saudi Arabia. The agreement includes Saudi Arabia’s first W Hotel, and a JW Marriott property.
Nikki Beach Global (‘Nikki Beach’) the international luxury lifestyle and hospitality brand, announced today a partnership to develop three waterfront residential buildings in Ras Al Khaimah. Nikki Beach and Aldar Properties (‘Aldar’), a leading real estate developer, investor, and manager in the UAE, have come together to develop branded residences on Al Marjan Island, which will launch for sale later this year.
Leading global real estate consultancy firm, Knight Frank, reports an exciting outlook for the United Arab Emirates' dynamic hospitality sector, characterised by an additional 9,200 rooms expected by the end of 2023. According to Knight Frank's latest analysis, by the end of 2023, approximately 154,000 rooms will be operating in Dubai's hospitality sector, marking a substantial 6.4% increase from the year, 2022.
SODIC, Egypt’s leading real estate developer, in partnership with Nobu Hospitality, the globally acclaimed luxury lifestyle brand, announces plans for a comprehensive expansion of the Nobu brand in Egypt with the development of luxury hotels, branded residences, and the iconic Nobu restaurant. Underpinned by SODIC’s extensive expertise and reputation, Nobu’s introduction into Egypt will anchor two of SODIC’s developments – Cairo in the New Zayed area and a coastal development on the North Coast – resulting in two multi-million dollar five-star hotels, a Nobu restaurant and branded Nobu residences with an extensive array of facilities for residents and guests.
As a founding Member State, joining in 1975, Israel has played an active role in UNWTO's work and continues to serve on several important Committees and bodies. Following on from the official visit of Israel's Ministry of Tourism, to the UNWTO headquarters in Madrid in July, the UNWTO Secretary-General Zurab Pololikashvili led a delegation to Israel for a series of high-level discussions around shared priorities.
Doha, the Katara Tower. After 10 years of planning and construction, these two towers are a symbol of Qatar's meeting on the Arabian Gulf. In just 12 weeks, two luxury hotels will open on 37 floors each, with almost 500 suites and hotel rooms as well as 18 restaurants, bars and cafes. Money is no object, as the goal is to surpass all previous mega-hotels on the Gulf. With the world's largest chandelier at a height of 57 meters and the world's only multimedia kaleidoscope in a hotel lobby, there are only 80 days left to finish on time. An almost impossible task for Christian Hirth, the German manager of both hotels. Despite construction sites everywhere, the team and Christian Hirth are meticulous in their attention to detail and ensure that everything is absolutely perfect before it opens. Two weeks before the opening, the 1130 employees from 73 countries finally see their uniforms for the first time. Join us as we explore this mega-hotel, the new landmark of Doha.
As Saudi Arabia continues to fulfill its vision of becoming a world leader for international travel and tourism, Hilton (NYSE: HLT) has announced plans to open over 50 new hotels across 10 of its brands, making the country the company’s largest pipeline market in Europe, the Middle East and Africa (EMEA). Hilton has accelerated its growth strategy in Saudi Arabia in recent years, announcing multiple signings as the company works towards its plans to increase its portfolio to more than 75 trading properties across the country.
Dubai’s resurgent tourism industry is celebrating a successful first half of 2023, after welcoming a record 8.55 million international overnight visitors, compared to 8.36 million tourists in H1 2019. Surpassing pre-pandemic visitation levels and further bolstering the city’s bid to become the world’s most visited destination, the latest data published by Dubai’s Department of Economy and Tourism (DET) represents the industry’s best ever H1 performance.
Prime office rents in Riyadh have growth by 13% over the last 12-months, fuelled in part by the looming Regional HQ Program deadline, which goes into effect in January 2024, according to global real estate consultancy, Knight Frank’s Summer 2023 Saudi Commercial Market Review.
IHG® Hotels & Resorts, one of the world’s leading hotel companies, with 6000 hotels across 18 brands, has signed a franchise agreement that will see a Hotel Indigo property open in Oxagon, a coastal industrial city in NEOM, located in the Northwest region of Saudi Arabia.
The Future Hospitality Summit (FHS) has confirmed the first speakers for the region’s flagship hospitality investment platform taking place from 25-27 September at Hilton Abu Dhabi Yas Island.