Saudi Arabia is planning a major expansion of its hospitality sector, which will add up to 315,000 hotel rooms by 2030, according to reports by global property consultancy, Knight Frank. In its report, Knight Frank states that this growth will result in a hotel room inventory greater than the current 140,000 hotel rooms available in Dubai.
The plan is expected to create nearly 450,000 hotel rooms, which is approximately 58% more than the combined total of the UAE’s 200,000 rooms, including Dubai’s 140,000 keys. The development of the hospitality sector is expected to play a critical role in boosting domestic tourism, which is already a thriving industry in Saudi Arabia.
To cater to this increasingly important segment of the market, the industry will need to think broader and incorporate the likes of luxury glamping sites and youth hostels. Saudi Arabia is on the cusp of becoming one of the world’s major tourist markets, with Giga projects like NEOM leading the supply pipeline.
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