Saudi Arabia hotel market has grown significantly in recent years and is expected to continue growing in the forecast period. With significant demand for leisure, corporate, and religious visitors, Saudi Arabia has lured many international and national hotel chains. The Saudi Arabia hotel industry is driven by rapid economic growth, the development of real estate projects investment, and Constructions. Besides, the growing tourism demand in the country has played an essential role in the accelerated growth of the tourism industry as well as the hotel industry. The Kingdom has also project to grow the number of Hajj and Umrah tourists, presently the major contributor to the kingdom visitor number to 30 Million by 2030 from around 19 Million in 2019. Saudi Arabia Hotel Market is projected to be more than USD 24 Billion by the end of the year 2025.
Saudi's Vision of 2030, taking prior initiatives into the Hotel industry; likewise, according to the Index Saudi, the government plan to open 144 pulse hotel and 56,106 rooms between the years 2019 to 2021. This year, the government is going to open 44 new hotels, and the next couple of years by 2020, the government plan to open 15 new hotels, and by 2021, 21 projects are in their pipeline. Apart from that, 41 and 9 hotels are in pre-planning stages.
Many hotel (4+ stars, 4 stars, 3 stars, and 2 stars) companies in the Kingdom has grown rapidly and as per our study, the publisher has covered companies future prospect say for instance, the Intercontinental Hotel Group (IHG) to open Voco hotel with 4,200 rooms, Accor Hotels Middle East will open 13,500 rooms by 2020, and Marriott International pipeline of 29 hotels and over 5700 rooms in the Kingdom by 2030 and many more companies in cities like Makkah, Medina, Riyadh, and Jeddah.
Also, with the assistance of internet hotel booking, the high-end hotel and mid-scale hotel in Saudi Arabia is a significant contributor to the rapid development of the financial community. International and national tourists in Saudi Arabia are more likely to book their hotels online through the region, mostly in Makkah, Medina, Riyadh, Jeddah, and Dammam. The Government of Saudi Arabia is committed to enhancing citizens ' quality of life by implementing its Vision 2030.
This report titled “Saudi Arabia Hotel Market, Volume & Forecast by Type (High End, Mid Scale, Budget) Ordering Platform (Online, Offline), Regions (Makkah, Medina, Riyadh, Jeddah and Dammam), Company (Dur Group, Al Hokair Group, Altyaar Group, IHG Group, Marriot International, Accor Middle East, Hilton Hotels)” provides a complete analysis of Saudi Arabian's Hotel Market.
By Hotel Type - High-End Hotel Market Dominates the Hotel Market in Saudi Arabia
The report studies the market for the following hotel segments: High End, Mid Scale, and Budget. High-end hotel controls the largest market share in this market place.
By Ordering Platform - Online Hotel Booking Market is steadily Growing
In the Saudi Arabia hotel market, Online hotel booking market is steadily growing. This report covers two types of ordering platform: online and offline. It is predicted that by 2025, the online hotel market will increase tremendously.
By Region - Saudi Arabia Hotel Market
This report covered Hotels Status in the following Regions: Makkah, Medina, Riyadh, Jeddah, and Dammam. Each region provides the following details: Number of Rooms, Room Average Daily Rate (ADR), Revenue per Available Room (RevPAR), and Occupancy Rate in the Region.
Hotel/Company Analysis - All the hotels have been studied from two points
- Recent Development or Strategy
- Sales
Hotels Cover in the Report
- Dur Group
- Al Hokair Group
- Altyaar Group
- IHG Group
- Marriot International
- Accor Middle East
- Hilton Hotels
Hotel Type- Saudi Arabia Hotel Market by Value
- High-End Hotel
- Mid Scale Hotel
- Budget Hotel
Hotel Type- Saudi Arabia Hotel Market by Volume
- Premium Hotel (4+ star)
- Mid-Scale Hotel (3+ star)
- Budget Hotel(2+star)
Ordering Platform - Saudi Arabia Hotel Market
- Online
- Offline
By Region - Saudi Arabia Five Star Hotel Status
- Makkah
- Medina
- Riyadh
- Jeddah
- Dammam
Each Region provides the following Details
- Number of Rooms
- Room Average Daily Rate (ADR)
- Revenue per Available Room (RevPAR)
- Occupancy Rate
Table of Contents
1. Introduction2. Research & Methodology3. Executive Summary
Samples
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Companies Mentioned
- Accor Middle East
- Al Hokair Group
- Altyaar Group
- Dur Group
- Hilton Hotels
- IHG Group
- Marriot International
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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