The hotel market segment in Saudi Arabia continued to display a positive trend with a number of new luxury hotel openings in 2017 as well a positive growth projected for the next few years, said a report.
According to Saudi Arabia Full year review by Colliers International, the regions of Riyadh, Jeddah, Makkah, Khobar, Dammam, and Dhahran witnessed a boost in hotel supply, with the highest growth recorded in Makkah.
The figures provided display the promising supply numbers which Fas Hotels will be a key part of.
Hotel supply figures for KSA:
Riyadh up from 8,684 keys to 16,216 keys forecasted in 2019
Jeddah up from 5,646 keys to 12,957 keys forecasted in 2019
Makkah up from 14,675 keys to 36,758 keys forecasted in 2019
Madinah up from 6,421 keys to 10,033 keys forecasted in 2019
Dammam region up from 4,001 keys to 7,652 keys forecasted in 2019
*figures from Colliers KSA Hotels overview
The majority share of the total branded hotel supply remained in the five-star and four-star category, pointing out the opportunity of increasing the share of mid-market hotel segment, especially under the present market conditions.