UAE’s Hospitality market set to grow 25 percent by 2030
(MENAFN) The United Arab Emirate’s hospitality market is prepared to see a surge of 25 percent by the end of this decade, with an additional 48,000 rooms surging to the countries extensive 200,000 key portfolio, as shown by a study done by Knight Frank.
The worldwide property consultancy stated that in its report that Dubai is going to account for the largest stake of these additional rooms, with 76 percent flowing to the emirate, which by now boasts at least 130,000 rooms.
Faisal Durrani, partner and chief of Middle East Research at Knight Frank made a statement that “The emirate has cemented its status as a city with universal appeal, in large part to the world-leading government response to the pandemic and some of the world’s most visited and incredible attractions.”
It is projected that the hotel room provision is going to amount to nearly 117.5 billion dirhams (nearly USD32 billion).
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.