Main Photo: The Moevenpick Doha
Date: April 2019
Location: Middle East
Name: The Top 10 Hotels Companies in the Middle East Region
Who and What: STR has released a report on top branded development for the Middle East.
As part of the STR 500, the company will release the top 50 companies and brands in the Middle East during this week’s Arabian Hotel Investment Conference (AHIC) in Ras Al Khaimah.
Accor and Marriott International maintain the top room counts among parent companies operating in the region, the report found, each having 34,327 rooms and 33,757 rooms, respectively. The mega-chains were the only two companies with at least 30,000 rooms in the region as of February 28 2019.
As of that date, the two largest brands in the Middle East are Millennium Hotels and Resorts (8,852 rooms) and Mövenpick Hotels & Resorts (8,454 rooms), which is owned by Accor.
“Supply remains a hot topic in the Middle East when looking at both the recent impact on performance as well as how much new inventory continues to be developed as part of ‘mega events’ and economic initiatives,” said Philip Wooller, STR’s area director for the Middle East and Africa.
“The growing presence of so many major global companies and brands speaks to the importance of the Middle East as developers identify growth opportunities in this sector of real estate. The region will certainly be key on the global development landscape for years to come.”
STR also have a great spreadsheet with exiting supply and pipeline of 50 plus hotel companies, room count by Parent company and brand – visit it here
THPT Comment: So the million dollar question is the region getting over-heated in terms of supply or is it a case build and they will fill it?
First Seen: Hotel News Now
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