Tag Archives: 2028

The growth in the hospitality sector revenue of individual GCC countries is expected to range from a CAGR of 6.9% to 11.0% between 2023 and 2028. Saudi Arabia is projected to grow in line with the GCC average of 7.5%, supported by numerous government-led initiatives as part of its Vision 2030, whereas the UAE is expected to grow at a CAGR of 6.9%, backed by the government’s focus on modernizing infrastructure and easing tourist visa rules. Smaller markets are expected to witness high growth rates during the forecast period, with Qatar at 11.0%, Kuwait at 10.5% and, Oman and Bahrain at 9.0% CAGR. According to Alpen Capital, the GCC hospitality sector revenue is expected to grow at a CAGR of 7.5% from 2023 to 2028, reaching approximately US$ 48.1 billion by 2028. This robust growth is fueled by the unified efforts of the GCC countries in prioritizing hospitality as a key element of their long-term diversification strategies. Furthermore, steady economic growth, increasing tourist arrivals and a multitude of mega MICE (Meetings, Incentives, Conferences, and Exhibitions) and sporting events to be hosted in the region will support the projected growth. “A rising trend towards sustainable tourism and responsible travel is gaining ground across the GCC’s hospitality sector due to increasing ecological awareness among consumers worldwide. The tourism industry is experiencing a surge in the popularity of new segments, such as cultural tourism and health & wellness tourism, reflecting evolving consumer likings and lifestyles. Despite market competition and geopolitical uncertainties, the industry continues to strategically enhance visitor experiences and stimulate demand through innovation and consolidation. We expect to witness healthy domestic and cross-border M&A activity, as the sector advances to respond to the …

According to Go-Globe, by 2028, the Sharing Economy market will expand by 32% compared to 2022. In MENA, the segment of Shared Accommodation will grow by 42%, Shared Business Services by 40% and Shared Transportation by 38%. The city of Dubai is extensively introducing co-sharing products. Today, the city provides various services of shared transportation: scooters — Lime, Tier and Circ, bicycles — Byky, cars — Udrive and Ekar, yachts and boats — CharterClick and Xclusive Yachts. There are also coworking spaces — The Cribb, Impact Hub Dubai and AstroLabs Dubai. However, there is still a vacant niche for other services popular in the West — equipment co-sharing such as Fat Llama and ToolzDo, or animal care services such as Rover. As for the shared accommodation, there is a list of restrictions for co-habitation in Dubai, but the regulations are gradually becoming more lenient. It has recently become possible for unmarried couples to share accommodation, so you can already find shared rentals within the laws of the city. For example, the Colife service shows that Dubai residents are interested in renting separate apartments with common areas. Colife data from other countries shows that this type of rental is popular with students, digital nomads, work-relocated expats and new residents. According to data obtained by Colife as a result of surveys, 72% of users plan to stay in Dubai for a year or more. However, not everyone can afford rent with a desired level of comfort. The average rent price for an apartment in Dubai is 7.900 dirhams. while the optimal price for surveyed users is 7.000 dirhams. 42,5% of users travel and live alone, meaning that many residents simply cannot afford …

Accor announced the signing of a cooperation agreement with the leading Georgian development company Archi to open the first Mövenpick in Georgia on the Black Sea coast in 2028. Mövenpick Kobuleti will deliver the best of Swiss hospitality, high-end gastronomy, exciting family offerings and children’s’ facilities thanks to the Mövenpick Family brand program as well as additional privileges and access to the global ALL – Accor Live Limitless loyalty program. “We are thrilled to present our premium Swiss brand Mövenpick on the Black Sea coast in Georgia. Kobuleti is rightfully considered one of the best resorts for a relaxing family holiday. It has a unique combination of the mild subtropical climate, clean well-maintained beaches and ancient architectural monuments, and of course, we couldn’t pass by this destination. We are confident that the new opening will make a significant contribution to the resort’s popularity among international travelers and residents. The tourism market in Georgia is one of the most promising in our region, and Accor aims to take a leading position in it. We are grateful to our partners for their trust and are looking forward to bringing this wonderful project to life,” – notes Alexis Delaroff, COO of Accor New East Europe. The new hotel will occupy several floors in one of the high-rise buildings on the eastern coast of the Black Sea within walking distance from a well-equipped beach with small pebbles. Kobuleti resort is perfectly suited for a comfortable family vacation, thanks to its long coastline, fresh air and mineral springs. For travelers who prefer sports activities and experiences, there are facilities for paragliding, jet skiing, paddle surfing, kayaking, and flyboarding. The exclusive Mövenpick Kobuleti will offer 120 …

Mandarin Oriental Hotel Group has announced that it will manage a luxury hotel in Kuwait, projected to open in 2028. The hotel will be located in the heart of the financial district of Kuwait City and will bring a new standard of luxury and elegance to the destination. Mandarin Oriental, Kuwait will be located in an iconic 80-storey tower, designed by the award-winning architects, Foster & Partners. In addition to the hotel, the tower will comprise a podium with a variety of international retail and entertainment centres, as well as premium office space. It will also be the headquarters of Bukhamseen Group Holding, which is developing the overall project. The hotel will feature 159 guestrooms, including 33 suites, and 10 serviced apartments, with views of downtown Kuwait City. It will offer a wide range of food and beverage outlets comprising a signature dining experience, a three meal period venue, a poolside  restaurant, a lobby lounge with a Mandarin Oriental Cake Shop, a club lounge and a shisha venue. There will also be extensive banqueting and meeting spaces to accommodate social and business events. A comprehensive Spa at Mandarin Oriental will provide a wide range of spa, beauty and wellness experiences and will feature eight private treatment rooms, a fitness centre, and both an indoor and outdoor swimming pool, the latter being set on a landscaped pool deck. The hotel is well placed for the city’s financial, commercial and governmental institutions and is a 20 minute drive from Kuwait’s International Airport. James Riley, Group Chief Executive of Mandarin Oriental Hotel Group said, “We are delighted at the opportunity to extend Mandarin Oriental’s presence in the Middle East with this important landmark …

IHG® Hotels & Resorts, one of the world’s leading hotel companies, has announced the signing of a Management Agreement with Al Ajlan Company for InterContinental Hotel & Residences in the Riyadh North area. Set to open by 2028, the prestigious 400-key hotel and serviced apartments will form part of a state-of-the art masterplan comprising of high-end retail, offices and entertainment. The hotel will reflect the modern luxury philosophy and will strengthen IHG’s offering in the segment. Saudi Arabia represents significant potential for tourism and hospitality industry, as part of its Vision 2030 ambitions. While Riyadh has long been and continues to be a centre for business in the Kingdom, new developments in the north of the city, including the Boulevard, U-Walk, and Riyadh Seasons herald a new demand for leisure tourism as well. In addition to rooms designed with modern aesthetics, the hotel will feature distinctive dining options, multipurpose meetings and events rooms, a health club and a spa. Located in proximity to the airport, the hotel will also be strategically positioned to cater to business and leisure demand. Speaking on the announcement, Haitham Mattar, Managing Director, India, Middle East & Africa, IHG said: “This Management Agreement of an exciting new build InterContinental property in Riyadh’s vibrant north district represents IHG’s commitment to support the growing tourism and hospitality ambitions of the Kingdom of Saudi Arabia, as part of Vision 2030.  With new developments in leisure and entertainment sector across the country, and the introduction of e-visas and a new airline, Riyadh is ready to welcome more diversified tourists to the capital city. With a strong hotel portfolio across all guest segments and a growing regional office in Riyadh, we …