ATM 2023 Dubai: Emaar Hospitality set to open eight new properties across MENA region

ATM 2023 Dubai: Emaar Hospitality set to open eight new properties across MENA region

The Dubai-headquartered Emaar Hospitality Group on Monday announced that it would open eight new properties in the Middle East and North Africa region in 2023 and 2024, as travel and tourism industry growth drives demand for new hotel rooms, especially in key markets such as Dubai.

The hospitality major, a subsidiary of Emaar Properties, will add Address Jabal Omar Makkah, Vida Dubai Mall, Vida Creek Beach, Palace Dubai Creek Harbour, Address Marassi Beach Resort in Egypt, Vida Marina Resort & Yacht Club Marassi in Egypt, Vida Aljada, and Vida Residences Cairo Gate to its portfolio in the coming quarters.

“We have witnessed successful growth in occupancy rates, with 2022 rates going up from the original 60 per cent in 2021 to 65 per cent and 74 per cent in 2023 thus far. With the increasing demand for hospitality in the region, our expansion plans are aligned to welcome local as well as international tourists,” an Emaar spokesperson said.

Global real estate consultancy Knight Frank said the volume of hotel room keys planned to be delivered in Saudi Arabia by 2030 is nothing short of incredible, with a total likely stock of close to 450,000 hotel rooms. Meanwhile, the UAE has a combined total