Saudi Arabia - The number of hotel rooms in Jeddah, Saudi Arabia is forecast to double by 2018 according to a new report.
The 'Jeddah Hotel Market Overview' report by JLL prepared ahead of The Hotel Show Saudi Arabia 2016 (17th - 19th May 2016) reveals that the current supply of 8,600 rooms (Q1 2016) in the city will double - with another 8,600 rooms forecast to be added to the market by 2018.
With a total stock of 17,200 hotel rooms estimated by 2018, major projects in the Jeddah pipeline include: The Ritz Carlton, Jeddah; Radisson Blu Al Salamah; Movenpick City Star; Elaf Galleria and Assila Hotel & Residence by Rocco Forte.
Christian Renz, Vice President for Sales and Marketing for Rocco Forte Hotels commented: "With the growth figures of Jeddah doubling, Jeddah was a clear choice for Rocco Forte Hotel's development in the Middle East. The Kingdom of Saudi Arabia is also one of our strongest outbound markets worldwide for our European hotels, so we felt it important to have a presence in the region. The Alissa family, who are one of the most respected families in the region, approached Sir Rocco Forte to partner as they admired his hotel management style in the European properties where they had stayed. Both family companies, together we have built the Assila Hotel on the prestigious Tahlia Street, the first five star to open in almost ten years in the city."
"Hotel occupancy rates in Jeddah are historically high," added Christine Davidson, Group Event Director of the dmg events hospitality portfolio. "Saudi Arabia is an important market for developing business and leisure tourism as well as the dominant religious tourism sector. Jeddah is a gateway for pilgrims travelling to the holy cities of Makkah and Madinah, while its coastal location makes it popular with domestic tourists. Business tourism is fast developing, and infrastructure developments in the pipeline including expansion works on Jeddah's King Abdulaziz International Airport will increase accessibility."
AccorHotels Middle East own a significant margin of Jeddah's hotel portfolio with nearly 600 operational rooms in the market at present, set to increase to over 3,000 hotel rooms in the coming years. Olivier Granet, Managing Director and Chief Operating Officer of AccorHotels Middle East commented: "We are on track to have 50 operational hotels in the Kingdom with over 13,500 rooms. By 2020 we are quintupling our network in Jeddah with a fivefold increase from three existing hotels to 15."
Granet added: "In order to attract both business and leisure clientele, AccorHotels has been focusing on the development of multi-brand projects; especially clusters that comprise midscale and economy hotels and serviced apartments. A particularly large-scale project in Jeddah will introduce a Novotel, ibis and Adagio to Al Andalus Road, which I personally believe will become a local landmark as it combines office, retail and hospitality components in one of the city's most vibrant areas."
At The Hotel Show Saudi Arabia, global consulting firm Deloitte will offer further insights in to the Jeddah market discussing "Market performance, trends and projects in Jeddah and Makkah" as part of the Vision Conference programme for 2016.
The Hotel Show Saudi Arabia (17-19th May 2016; 4-10pm; Jeddah Centre for Forums and Events) is the only event where hospitality industry professionals can source everything needed to develop, build and maintain a hotel or restaurant in the Kingdom. Exhibitors for 2016 include show sponsors Samsung and LG Electronics. Register to attend for free at:www.thehotelshowsaudiarabia.com.
-Ends-
For more information and/or images please contact Heather Macpherson, PR Manager of the dmg events hospitality portfolio on +971 4 445 3749 or heathermacpherson@dmgeventsme.com
About
The Hotel Show Saudi Arabia is organised by dmg events and belongs to the dmg hospitality portfolio comprising of The Hotel Show Saudi Arabia, The Hotel Show Dubai, Hotel, Food & Beverage India, The Leisure Show Dubai, Piscine Middle East, The Middle East Hotel Awards, The Middle East Pool & Spa Awards, The Vision Conference and TecSec Summit.
The Hotel Show
100% Hospitality for the hotel, restaurant, café and foodservice industry
The Hotel Show Saudi Arabia (17-19 May 2016, Jeddah Centre for Forums and Events) and The Hotel Show Dubai (17-19 September 2016, Dubai World Trade Centre) are pivotal business forums for the hospitality industry in the Middle East and Africa. Working with Department of Tourism and Commerce Marketing, industry associations, and partners, the 2016 shows include visionary features, extensive educational content (through the Vision Conference) and other knowledge sharing platforms together with senior level networking. Find out more or register to attend FREE at www.thehotelshowsaudiarabia.com or www.thehotelshow.com
About dmg events
An international exhibition and publishing company, dmg events produces market-leading exhibitions and conferences for the global energy, construction, coatings, hospitality and interior design industries. As a leading supplier of face-to-face business information, with a customer-centric focus that localizes operations and relationships, our objectives are to keep businesses informed and connect them with relevant consumers to create vibrant marketplaces across multiple event platforms and communities.
dmg events is a wholly-owned subsidiary of the Daily Mail and General Trust plc (DMGT) an international portfolio of information, media and events businesses listed on the London stock exchange.
dmg events Middle East, Asia & Africa
Founded in 1989, dmg events has operated in the Middle East since 1995 and owns many leading brands including The Big 5 portfolio of construction events, INDEX - the Middle East's largest event for the interior design industry and The Hotel Show, the longest running and most important event for the hospitality industry.
Headquartered in Dubai, UAE and with satellite offices in India, South Africa and the UK, dmg events Middle East, Asia & Africa organizes over 45 events across the Middle East, Africa, Asia, North America and Europe. The events attract more than 250,000 customers every year and provide opportunities for trade professionals to do business, network and learn. For more information visit www.dmgeventsme.com
About DMGT
'Satisfying the need to know'
DMGT manages a balanced multinational portfolio of entrepreneurial companies, with total revenues of almost £2bn, that provide a diverse range of businesses and consumers with compelling information, analysis, insight, news and entertainment. The company employs more than 10,000 people and is listed on the London Stock Exchange. It generated revenues of £1,864m and profit before tax of £291m in the year to September 2015. DMGT supplies high-value information to the insurance, property, energy, education and finance sectors, operates highly successful events and attracts a growing, global audience to its media activities.
The B2B businesses are:
- Risk Management Solutions (RMS)
- dmg information
- dmg events
- Euromoney Institutional Investor plc
The consumer business, dmg media, includes:
- The Daily Mail
- The Mail On Sunday
- MailOnline (DailyMail.com in the US)
- Metro
We have shareholdings as joint venture partners or associates in a variety of innovative businesses including Zoopla Property Group Plc* (Zoopla & Prime Location) and Wowcher.
DMGT aims to provide the highest quality information, insight and services to attractive growth markets in innovative ways, building on a track record of earnings and dividend growth. For more information visit www.dmgt.com
*c30% share
© Press Release 2016
