61 New Hotels Valued at $8.8 Billion in Gulf by end 2010

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(DUBAI, U.A.E.) -- Sixty-one new hotels are due to go on line by the end of 2010 in the countries of the Arabian Gulf, according to a new survey released today.  The total value of the properties is $8.8 billion.

The United Arab Emirates leads the rankings with 22 new hotels opening this year and another 13 next year. The 35 hotels represent investments of $6.1 billion. Despite the economic downturn that has been felt in the UAE, business and tourism continue to look stronger than in many other countries. 

"These are challenging times for everyone but these latest figures show that hotel suppliers continue to have an expanding market in the Middle East," said Maggie Moore, Director of The Hotel Show which opens at the Dubai International Exhibition and Convention Centre on May 24.

The survey by project research and database company Proleads was conducted for The Hotel Show, the leading trade show for the hospitality industry in the Middle East. The survey shows five major hotels this year in Saudi Arabia and seven more in 2010. Qatar will open five hotels this year and two in 2010. Bahrain has one in 2009 and four in 2010.


"With thousands of new hotel rooms coming on stream over the next two years, the hospitality industry will need to focus on standards and value for money for customers," said Moore. "There will certainly be downwards pressure on hotel rates in the short term, but one has to remember that hotels in the GCC region recorded some of the highest average rates in the world last year.

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