A consultancy and research firm conducted a survey about hotel construction projects throughout Middle East and Europe. According to their analysis, Middle East hotels are 50 percent more ambitious than Europe.
STR Global has reviewed global trends and based on its analysis, Europe presently intends to deliver 813 hotels with 133,797 rooms – an average of 165 rooms per hotel while throughout the Mena region there are plans for 485 hotels with 118,535 rooms, or an average of 244 rooms.
Its results showed land values in both regions – with those in Europe being higher which makes construction cost more expensive.
Qatar has also seen a substantial investment connected to the upcoming FIFA World Cup, but in the GCC most projects are targeted for Abu Dhabi and Dubai.
Istanbul which was regarded by the survey as being in Europe is experiencing the most activity on the continent, trailed by Berlin, London, Moscow, Vienna, Amsterdam, and Madrid.
The InterContinental Hotels Group covers eighteen hotels in the United Arab Emirates with over five thousand rooms, and seven more properties scheduled throughout the region.
The hotel representative stated that the company’s current pipeline in the UAE is more inclined towards high-end and upper upscale brands – Crowne Plaza, InterContinental Hotels, and Staybridge Suites – with regards to the region’s continued preference for luxury travel experiences. In contrast, Europe has more need in the mid-scale segment.
IHG regional properties scheduled to launch this year are in Saudi Arabia, Oman, and Lebanon, with 2014 projects in Oman, Kuwait, Saudi Arabia, and the United Arab Emirates.
The demand in Dubai continues to raise the quantity of hotels with developer Emaar launching its own brand of budget accommodation to provide or a section of the market which experts state is under-served in the UAE.