ProLeads: GCC Hotel Projects Valued At $7 Billion
Market research company ProLeads Global revealed that the total value of hotel projects under construction across the GCC until 2013 is estimated to be $7 billion (Dh25.69 billion). UAE projects alone account for the biggest portion of this figure at $4.4 billion, followed by Saudi Arabia at $1.2 billion. Qatar hotel projects are valued at $620 million, Bahrain ($490 mm), Oman ($300mm), and Kuwait ($90 mm).
Maggie Moore, Exhibition Director of The Hotel Show, said “We asked research company Proleads to examine active and under-construction hotel projects scheduled for completion between now and 2013 across the GCC.” She said the results show that the hospitality industry in the region continues to develop and is both robust and sustainable. The Hotel Show is a trade event for the hospitality sector that runs from May 18th until May 20th.
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