JEDDAH — A new report published by Euromonitor International revealed a positive future for UAE hotels with annual revenues forecast to reach $10.9 billion in 2019, almost doubling from the $5.9 billion figure recorded in 2013. Visitor attraction revenues are also forecast to double from $521 million recorded in 2013 to over $1.2 billion by 2019. In 2015, UAE hotel revenues are forecast to reach $7.3 billion, while visitor attraction revenues will hit $638 million. The new figures were released at the recently held The Hotel Show and The Leisure Show Dubai at the Dubai World Trade Centre. Christine Davidson, Group Event Director of the dmg events hospitality portfolio including The Hotel Show and The Leisure Show, said: “Euromonitor International's new report reveals that the UAE is leading the Middle East and North Africa for hotel room revenues, with over 3 times the amount recorded and forecast for Saudi Arabia and Egypt who follow. The UAE also currently leads the region for hotel construction to meet demand.” She continued: “Saudi currently leads the market for visitor attractions, however, with $4.6 billion in revenues forecast for 2015 versus $638 million for the UAE. But with massive leisure development currently underway across the UAE including 5 theme parks, 3 major museums and 2 safari parks, its visitor attraction revenues are forecast to almost double to $1.2 billion by 2019. As more developments enter the pipeline, including last month's announcement of the record-breaking Meydan One project featuring the world's largest indoor ski slope, the UAE's future for leisure and entertainment tourism looks exceedingly good.” K.S. Ravikumar, Executive Director - International Operations at S&T said: “The Hotel Show Dubai 2015 is a great networking platform and participating in it only supplements your existence in the industry. The hospitality industry is increasingly seeing the use of modern materials like glass, steel etc. while the use of wood and traditional finishes is getting confined to public areas. S&T with its global operations and expertise brings a wide array of innovative interior fit-out solutions. This year, we will be presenting a unique Design and Build concept by combining 3Ms i.e. Materials, Methods and Management to provide Turnkey Solutions with a difference. We are certain our unique concept will take the science of execution to the next level." — SG
