Alphen Capital has predicted the GCC hospitality market to reach US$ 32.5 billion by 2022 thanks to Expo 2020 and other global events occurring over the next few years, Hotelier Middle East reported.
The predictions have been made ahead of the Hotel Show, which will celebrate its 20th edition, taking place from 17th – 19th September at Dubai World Trade Centre.
The hotel sector is expected to be in “significant demand” owing to Expo 2020 in Dubai and other global events that will be hosted in the region, according to Alphen Capital's GCC Hospitality report.
Other studies, such as The Hotels Market Report by Ventures Onsite, expects 25 million visitors to come to the UAE for Expo 2020 in preparation, while Dubai’s hotel room supply is expected to reach 132,000 in 2019, with the Emirate aiming to complete 160,000 hotel rooms by October 2020.
In an interview with Matthew Engele, principal and regional design leader at Woods Bagot, about hotel trends, he said hotels are no longer requiring traditional zones and spaces and are instead opting for experimental and flexible designs.