Saudi Arabia targets 315,000 new hotel rooms by 2030

Saudi Arabia targets 315,000 new hotel rooms by 2030

Saudi Arabia is gearing up for a major expansion in its hospitality sector by developing 315,000 hotel keys by 2030, according to global property consultancy Knight Frank.

This growth, Knight Frank says, will see Saudi Arabia’s hotel room inventory swell to become larger than Dubai’s current 140,000 keys. The development of the hospitality sector is a cornerstone of the Kingdom’s economic diversification plans.

Faisal Durrani, Partner – Head of Middle East Research explained: "The volume of hotel room keys planned to be delivered in the Kingdom by 2030 is nothing short of incredible, with a total likely stock of close to 450,000 hotel rooms. For context, the UAE today has a combined total of around 200,000 rooms, including Dubai’s 140,000 keys, so Saudi is gearing up to see nearly 58% more than this figure.

“A major part of the success of the Kingdom’s future tourism and hospitality market will be its domestic tourism sector. The sector is already alive and thriving, with 65% of Saudis already traveling within the Kingdom between one- and three- times a month. What’s fascinating however is the fact that 58% of Saudis we spoke to as part of our 2023 Saudi Report opt not to stay in hotels.”

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