Published on : Nov 07, 2019
Albany, New York, November 7, 2019: Saudi Arabia has increased its hotel offerings in recent years and has become a hub of international hotel groups. Smaller destinations such as Dammam and Jazan have emerged as tourist attractions. Tourism projects in Saudi Arabia play a vital role in its futuristic economic diversification agenda.
Three major types of visitors that include corporate, religious and leisure visitors account for majority of demand pools that boosts hotel requirement. Government has enforced tourism laws that encourage to encourage tourism sector and emphasizes on increasing international activities in hotel industry. Growth in number of international visitors creates momentum in Saudi Arabia Hotel Market which sparks different levels of interest amongst world’s largest hotel groups and chains. Marriot international established country’s first two aloft hotels followed by opening of Rocco Forte Hotels. Other groups that are looking forward to expand their presence in Saudi Arabia include Accor and InterContinental.
An intelligence report titled, “Saudi Arabia Hotel Market, Volume & Forecast by Type (High End, Mid-Scale, Budget) Ordering Platform (Online, Offline), Regions, Company” is the source of all the stated insights. This report is the latest addition to Market Research Hub’s ever growing repository
Luxury resorts attract visitors
Tourism influx has led to luxury resorts construction in Saudi Arabia. Public investment funds are also diverted towards leisure-focus developments to suffice the growing demand. An ultra-luxury mega project named Amaala is under development. The plan is to develop 2500 luxury hotel keys along with 700 villas and marinas.
Hosting key international events that include international half marathon, Formula E events and Time Entertainment’s Comic-Con benefits tourism and ultimately, the hotel market of Saudi Arabia. Pilgrimages of hajj and Umrah draw millions of customers annually which contributes in extending stay pf the overseas visitors. Pilgrimage sites boost hotel occupancy levels. Government has taken up upgradation of cultural sites such as Grand Mosque of Makkah to increase its tourist capacity. Projects such as NEOM have been planned to focus on creating cross-border economic city that accommodates number of permanent residents along with regular overseas corporate travelers.
Saudi Arabia hotel market: Report Synopsis
Quantitative and qualitative assessment exhort intelligence and overarching report on the Saudi Arabia hotel market. Further, the report thoroughly delineates various aspects of the market that will potentially have considerable influence on the development of the Saudi Arabia hotel market. As such, those aspects incorporate drivers, trends, restraints, and opportunities. Furthermore, the report elucidates segregation of the market that provides an exhaustive analysis on Saudi Arabia hotels.
An insightful and deep-dive assessment of the competitive assessment of the Saudi Arabia hotel market pins hope on Porters’ Five Force Analysis. Accordingly, the Porters’ Five Force Analysis offers a pressing analysis on the potential strategies of the preeminent players in the Saudi Arabia hotel market. In addition, the business strategies counts on company overview, product portfolio, SWOT analysis, key differentiation and recent development.
Saudi Arabia hotel market: Research Methodology
Primary sources and secondary sources propel intelligence report on Saudi Arabia hotel market that provide deep dive analysis on the market. As such, the report provides reliable and unbiased projections, and assessments which have palpable impact on the market size and historical data. Besides, the report also counts on primary sources which hinges upon in-depth and intelligent analysis from well-grounded and reliable experts, telephonic interview, and a thorough assessment from surveys and seasoned analyst.
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