Viability Reports 325 Middle East Projects Planned
Hospitality and property consultancy firm Viability reports the Middle East has record number of upcoming hotel projects planned, despite the global economic downturn. Viability released its annual GCC future hotel survey showing 325 projects equating to 92,036 rooms are in the pipeline. However the survey showed that 42 projects, equating to 10,000 more rooms, are on hold with no timetable for completion.
According to the GCC survey, while the UAE accounts for 60% of the regions planned hotels, it also accounts for the most project cancellations or postponements. In terms of brand names, Accor has the most number of projects planned, with 36 hotels or 8,667 rooms planned.
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