(MENAFNEditorial)
Saudi Arabia’s hotels are seeing strong growth backed by two important factors. Firstly the country is home to the two holy cities of Makkah and Medina which attract a large number of pilgrims every year. Continued growth in the number of pilgrims each year is leading to massive expansion plans by the current hotels as well as the arrival of new hotels both chained and unchained. Secondly the thriving oil-based economy is seeing a boom in business activities mostly in the capital Riyadh and the Red Sea city of Jeddah. Frequent business trips to the country by investors and organisational members are paving the way for the development of more hotels and serviced apartments. This has had a strong impact on the overall occupancy rate which rose to an average of 60% in 2013. The average daily rate is constantly on the rise as demand is outstripping supply. Another factor which is contributing to the strong performance of hotels is the large domestic tourism market with domestic tourists spending SR8.2 billion on accommodation in 2013. These factors contributed to the stronger growth of travel accommodation in 2013.
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Industry Prospects
Hotels are expected to perform well over the forecast period with a value CAGR of 4% at constant 2013 prices. The total number of rooms is expected to reach 185000 by 2018 growing by a CAGR of 6%. Growth will be driven by strong growth in the number of pilgrims arriving for religious tourism thanks to the ongoing expansion of the two holy cities of Makkah and Medina. The positive economic outlook for the country on the other hand will be the key driver of business tourism hence leading to growth in hotels in other cities particularly in the capital Riyadh. Strong growth will encourage the development of more hotels. A number of international chains such as Hilton Hyatt Group Intercontinental Saudi Arabia Hotels Starwood and Marriott have finalised plans to add more hotels in the country in the next five years.
Report Overview
Discover the latest market trends and uncover sources of future market growth for the Travel Accommodation industry in Saudi Arabia with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available understand competitive threats with our detailed market analysis and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Travel Accommodation industry in Saudi Arabia our research will save you time and money while empowering you to make informed profitable decisions.
The Travel Accommodation in Saudi Arabia market research report includes:
* Analysis of key supply-side and demand trends
* Detailed segmentation
* Historic volumes and values company and brand market shares
* Five year forecasts of market trends and market growth
* Robust and transparent market research methodology conducted in-country
Our market research reports answer questions such as:
* What is the market size of Travel Accommodation in Saudi Arabia?
* What are the major brands in Saudi Arabia?
* What is the rate of development for chained hotels vs independent hotels?
* How are luxury hotels performing compared to mid-priced and budget hotels?
* Is there an increase in hostels and campsites?
Reasons to Get this Report
* Gain competitive intelligence about market leaders
* Track key industry trends opportunities and threats
* Inform your marketing brand strategy and market development sales and supply functions
Product coverage: Travel Accommodation by Category Travel Accommodation by Channel.
Data coverage: market sizes (historic and forecasts) company shares brand shares and distribution data.
Report Table of Contents:
TRAVEL ACCOMMODATION IN SAUDI ARABIA
LIST OF CONTENTS AND TABLES
Headlines
Trends
Prospects
Category Data
Table 1 Travel Accommodation Sales by Category: Value 2008-2013
Table 2 Travel Accommodation Outlets by Category: Units 2008-2013
Table 3 Travel Accommodation by Category: Number of Rooms 2008-2013
Table 4 Travel Accommodation Sales by Channel: Value 2008-2013
Table 5 Hotel NBO Company Shares: % Value 2009-2013
Table 6 Hotel Brands by Key Performance Indicators 2013
Table 7 Regional Hotel Parameters 2013
Table 8 Forecast Travel Accommodation Sales by Category: Value 2013-2018
Table 9 Forecast Travel Accommodation Outlets by Category: Units 2013-2018
Table 10 Forecast Travel Accommodation Sales by Channel: Value 2013-2018
Executive Summary
Tourism Thrives on the Back of the Growing Number of Pilgrims
Government Efforts Show Positive Results
Online Sales Become More Promising
Restrictions on Tourist Visas Remain A Roadblock
Travel and Tourism Set for Strong Growth
SWOT
Summary 1 Saudi Arabia: SWOT
Demand Factors
Table 11 Leave Entitlement: Volume 2008-2013
Table 12 Holiday Takers by Age 2008-2013
Table 13 Seasonality of Trips: % Breakdown 2008-2013
Balance of Payments
Table 14 Balance of Tourism Payments: Value 2008-2013
Definitions
Sources
Summary 2 Research Sources
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