The number of hotel rooms which is under construction in the Middle East and Africa region amplified by 38.5% annually in August.
The concrete number of rooms being constructed last month arrived at 97,553. Saudi Arabia had the most rooms under structure, which handles 28,745 rooms in 68 hotels. Next is the United Arab Emirates with 23,821 rooms in 90 hotels and Qatar with 7,315 rooms in 30 hotels, according to statistics which has been issued.
There were 688 hotels with 175,574 rooms under agreement in the region in August, increase 19.1% when compared to the similar period in 2014.
The United Arab Emirates, mainly Dubai, is considering an amplifying number of hotel rooms coming online. In 2016, 20,000 more rooms are approximated to come into the emirate. Around 140,000 and 160,000 rooms are required by 2020, when the emirate intends to receive 20 million guests yearly and host the Expo 2020, which is projected to fascinate 25 million guests.
Higher hotel room supply has dropped average room rates in the emirate this 2015. In August, average daily rates plunged 12.5% annually to Dh587.50, according to report.
Nonetheless, in July, tenure was lower than 50% till the end of Ramadan, after which it handled 70%, information indicated. The higher annual tenure and the 2.95 drop in ADR to Dh614 responded in RevPAR to increase 22.4% to Dh353.
Hotel room supply amplified by 6% in August outpacing demand which was up to 4.3%.
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