FINANCIAL NEWS

Gulf hotels to bring USD25 billion revenues by 2016

19 Jul 2013

(MENAFN) GCC continues to show a strong hospitality industry, as the region�s hotel revenues are expected to raise by 2016 to USD25 billion due to steady annual growth of 6.93%, reported Khaleej Times.

Hotels are set to welcome a greater number of tourists in three years causing an expected boost in occupancy rates to 73%, up from 68% in 2012.

It�s worth mentioning that the Gulf region runs 491 hotels including 120,705 rooms, according to STR Global reports in June 2013.

More News

This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more