MUSCAT: As many as 33 hotel properties, offering an estimated 6,792 hotel rooms, are anticipated to launch across the Sultanate of Oman during 2023, according to a key report. This growth in hotel capacity will boost tourism and contribute to Oman's overall development effort to expand capacity in the hospitality sector, said Lodging Econometrics (LE), a leading US-based provider of global hotel industry intelligence.
The Middle East continues to demonstrate consistent pipeline development in the second quarter of 2023, with the largest project count since Q1 2020, says LE in its latest overview on this region. A total of 597 projects offering 146,521 rooms make up the overall pipeline, which is up 10 per cent and 5 per cent , respectively, year on year. Middle East countries with the greatest number of projects in the construction pipeline at the Q2 close are led by Saudi Arabia, with an all-time high of 276 projects and 72,144 rooms.
Currently in the Middle East, projects under construction as of the end of the second quarter include 330 projects and 90,619 rooms. The number of projects with 23,909 rooms that are expected to break ground over the next 12 months climbed by 17 per cent year over year to 102 projects. The number of projects in the early stages of development climbed 31 per cent year over year, hitting its highest level since 2008, and is now at 165 projects/31,993 rooms.
Saudi Arabia led the Middle East nations with the most projects in the pipeline at the end of the second quarter, with an all-time high of 276 projects and 72,144 rooms. With 106 projects and 27,921 rooms, the United Arab Emirates (UAE) comes next, followed by Egypt with 91 projects and 20,814 rooms, Qatar with 43 projects and 10,267 rooms, and Oman with 33 projects and 6,792 rooms. Within these five nations are where 92 per cent of the pipeline hotel projects in the Middle East are currently situated.
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