Hospitality Brands in MEA
Investing UAE

More investment opportunities will open for Global hospitality brands in MEA

The Middle East and Africa (MEA) region continue to provide opportunities for global hospitality companies, with both Marriott International and Hilton announcing plans to expand their hotel portfolios in the region in the next few years.

Marriott International revealed that it expects to add 19 new propertie to its MEA portfolio in 2019. This is in line with the company’s expansion plans to add more than 100 new properties and nearly 26,000 rooms across the region by the end of 2023. Marriott estimates its development pipeline through 2023 represents up to $8 billion of investment from property owners and is expected to generate over 20,000 new jobs across the region.

Year-to-date, the company opened five new properties in the region and is expected to add more – bringing its portfolio across the Middle East and Africa to nearly 270 properties and over 60,000 rooms – by the end of the year.

Meanwhile, Hilton has announced that it expects to open almost 100 hotels in the region in the next five years, mainly in the UAE, Saudi Arabia, Kuwait, Bahrain, Morocco, and Egypt, equating to a $9 billion investment by Hilton’s development partners. This will see the company almost double in size in the UAE, and quadruple in size in Saudi Arabia throughout the next five years, bringing Hilton’s portfolio to almost 50 hotels in each of these key markets.

Hilton has seen significant demand in the Mena region for its mid-market brands, including Hilton Garden Inn and Hampton by Hilton, with 25 hotels representing these two brands in its existing development pipeline. In addition to this, Hilton will open a Waldorf Astoria in Dubai later this year, and will continue to grow its strong presence in Ras Al Khaimah with three new properties in its pipeline for the emirate. Hilton currently operates 64 hotels across the Mena region and expects to see continued demand for its brands.

SOURCE

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.