Saudi Arabia embarks on hotel construction drive as holy cities rebound from Covid shock – ArabianBusiness
- Date: 01-Apr-2022
- Source: Arabian Business
- Sector:Real Estate
- Country:Saudi Arabia
Saudi Arabia embarks on hotel construction drive as holy cities rebound from Covid shock – ArabianBusiness
A total of 32,621 hotel rooms are currently under construction in Saudi Arabia, as the kingdom prepares to meet pent-up demand from pilgrims returning to its holy cities.
That’s according to the latest research from STR, commissioned by Arabian Travel Market (ATM) 2022, which will take place at Dubai World Trade Centre (DWTC) in May.
Analysts found that the country’s revenue per available room (RevPAR) recovery index stands at 52 percent, noting that the absence of millions of Muslim pilgrims has significantly impacted hotel performance in Saudi Arabia.
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