Rooms Hotels

Hotel investors ramp up investment efforts in Saudi Arabia for religious tourists

Excerpt from HotelNewsNow

Sep 21, 2012 2:25 pm

Skift Take

In a tightly regulated market like Saudi Arabia, whatever the govt. decides happens. It is ramping up modernization efforts for pilgrims and tourists, and hence this spate of hotel investment,

— Rafat Ali

Free Report: The Changing Business of Extended-Stay Hotels

Muslim tourists to the Kingdom are expected to grow annually between 6% and 8% over the next two to three years, reaching more than16 million tourists.

Hotel developers are working furiously to keep pace. Christie + Co. counts some 13,000 branded rooms among 30 new properties scheduled to open by 2015.

Headlining hotel development is the Jabal Omar Development Company’s 26-hotel, multiphase project being built on 24 million square feet of land.

Read the Complete Story →

Tags:

Next Up

More on Skift

MasterCard Wants to Become a Muslim Travel Market Influencer
Skift Forum Video: Tourism in a Digital Age from the Met’s Chief Digital Officer
W Hotels Throws Its Support Behind Legalizing Same-Sex Marriage
Free Webinar: How To Effectively Personalize Marketing Across Travel Sectors