Tag: Saudi Arabia Hotel Market

Saudi Arabia Hotel Market, Size, Forecast Report 2030

Renub Research provided a thorough industry analysis with market share insights in a recent report titled “Saudi Arabia Hotel Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2030″. Saudi Arabia Hotel Market share research is also provided for competitors, market segments, and recent advancements.

Saudi Arabia Hotel Market is anticipated to expand at a CAGR of 12.23% between 2023 and 2030

Hotels in Saudi Arabia have witnessed a surge in popularity pushed via the country’s ambitious tourism initiatives and monetary reforms. With the Vision 2030 schedule, Saudi Arabia has opened its doorways to global travellers, leading to an improved inflow of site visitors. Major cities like Riyadh, Jeddah, and Mecca boast a growing quantity of luxurious hotels catering to diverse traveller options. The kingdom’s rich cultural history, historic websites, and strategic business hubs contribute to the rising demand for accommodation. Hotels, ranging from opulent establishments to finances-friendly options, play a crucial function in improving the overall experience for both local and global travellers in Saudi Arabia.

Further, the comfortable visa policies in Saudi Arabia have created a more inviting surrounding for worldwide vacationers and business tourists, leading to accelerated hotel demand. Major occasions and trends, consisting of the Red Sea Project and NEOM metropolis, have garnered global attention, requiring top notch accommodations. The religious importance of Mecca and Medina for Muslims contributes to a vibrant hotel market, mainly in the course of Hajj and Umrah. The market has developed to embody alternative hotels like boutique hotels, eco-friendly motels, and glamping facilities, catering to particular preferences and increasing its enchantment to numerous tourist segments. Hence, Saudi Arabia Hotel Market is anticipated to reach US$ 62.57 Billion by 2030.

Also, a burgeoning and prosperous younger population, in search of particular leisure experiences, propels a heightened demand for resorts with modern services. Government support, presenting financial incentives and eased rules, fosters a good business climate for hotel operators and traders. Simultaneously, huge government investments in transportation infrastructure, such as airports, high-pace rail, and road networks, enhance connectivity, stimulating journey and bolstering resort stays throughout numerous regions. The infusion of digital technologies into hotel operations, encompassing online booking systems and personalised guest stories, augments convenience and attracts tech-savvy tourists, consolidating the flourishing hotel enterprise.

Elevated lodging establishments are set to take off, revolutionizing the hospitality scene in Saudi Arabia and bolstering the kingdom’s tourism portfolio.

High-end motels in Saudi Arabia are undergoing a transformative shift, redefining themselves as chic havens with modern layout, personalised carrier, and cheap prices. Attracting price-aware vacationers, these motels strike a balance among stylish motels, nearby experiences, and competitive costs. Embracing sustainability and true vibes, they foster cultural immersion. Strategically placed near vacationer destinations, they cater to particular pursuits like journey and eco-tourism. Fuelled by entrepreneurial spirit, local innovators infuse specific attraction into this niche. Social media amplifies their achievement, with lovely visuals and actual experiences capturing attention and attracting adventurous travellers seeking distinctive.

By leveraging technological advancements, online booking platforms are poised to continue their ascent in the Saudi Arabia hotel market

Booking travel has never been easier. Online structures provide on the spot access to a huge range of hotels, permitting travellers to compare expenses, amenities, and locations with a few clicks. Transparent evaluations and special descriptions build trust. Intuitive mobile apps cater to on-the-go travellers, imparting flexibility for spontaneous getaways. Aggregated deals and discounts ensure competitive prices. Personalized experiences, pushed by data and AI, replace one-size-fits-all itineraries. Platforms expand to provide tours, activities, and local recommendations for authentic cultural immersion. Tech-savvy vacationers, especially the younger generation, choose online platforms for seamless, digital convenience, making traditional methods obsolete.

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Jeddah, the vibrant heartbeat of Saudi Arabia’s Red Sea coast, is witnessing a remarkable blossoming of its hotel industry

Jeddah, a focal point in Saudi Arabia’s tourism-driven economic transformation, is thriving. Major infrastructure projects like the King Abdullah Economic City and Jeddah Corniche are reshaping the city, attracting global investments. Beyond religious tourism, Jeddah diversifies with cultural events and adventure activities, increasing hotel occupancy. Improved connectivity through airport expansion and high-speed rail links enhances accessibility. Government incentives, including relaxed visas and financial support, foster industry growth. Jeddah’s diverse hotel segments, from luxury escapes with beachfront opulence to boutique gems showcasing local charm, cater to a broad range of travellers, including budget-conscious options for accessibility.

Competitive Landscape

The leading businesses in the Saudi Arabia hotel industry are Dur Group, Al Hokair Group, Altyaar Group, IHG Group, Marriot International, Accor Middle East, and Hilton Hotels.

Market Summary

Type- The Report covers the Saudi Arabia Hotel Market, by type in 3 viewpoints (High End, Mid-Scale, and Budget).

Ordering Platform- By ordering platform, the Saudi Arabia Hotel Market, breakup in 2 viewpoints (Online, Offline).

Regions- The Saudi Arabia Hotel Market by regions breakup in 5 viewpoints (Makkah, Riyadh, Madinah, Jeddah, Al Khobar and Dammam).

Key Players- All the major players in the Saudi Arabia Hotel Market have been covered from 3 Viewpoints (Overview, Recent Developments, and Revenue) Dur Group, Al Hokair Group, Altyaar Group, IHG Group, Marriot International, Accor Middle East, and Hilton Hotels.

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About the Company: 

Renub Research is a Market Research and Information Analysis company with more than 14 years of experience in Research, Survey, and Consulting. Our research helps companies to take business decisions: on strategy, organization, operations, technology, mergers & acquisitions, etc. Till now we have published more than 7000 syndicated reports and worked on more than 500 custom research projects. Currently, we are supplying data to EMIS, Bloomberg, Thomson Reuters, etc. We support many blue-chip companies by providing them with findings and perspectives across a wide range of markets.

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Email: info@renub.com

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Saudi Arabia Hotel Market, Size Forecast Report 2030

Saudi Arabia Hotel Market, Size, Forecast 2024-2030, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis

Renub Research has assisted in the recent release of a document titled “Saudi Arabia Hotel Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2030,” which contains extensive enterprise analysis and market percentage records. The competition, geographic distribution, and growth potential of the Saudi Arabia Hotel Market are all examined in this study.

Expert Insights: Ask Analyst or Download Full Report with TOC & Figures: https://www.renub.com/saudi-arabia-hotel-market-p.php

The Saudi Arabia Hotel Market is expected to grow at a 12.23% compound annual growth rate (CAGR) between 2023 and 2030. The hotel enterprise is a dynamic and speedy-changing Saudi Arabian financial system zone. The most critical cognizance is tourism to diversify the financial system, as established through Vision 2030, a complete plan for economic reform. Initiatives beneath this plan, such as opening the country to international vacationers and mega-tasks like the Red Sea Project and NEOM, have appreciably bolstered Saudi Arabia’s tourism infrastructure, attracting various enterprise and leisure tour visitors.

Also, the hotel industry in Saudi Arabia is experiencing a widespread transformation pushed by the adoption of digital technology and online reserving systems, making it extra handy for tourists to search, examine, and reserve accommodations, thereby improving the sector’s growth. Simultaneously, sustainability and luxury have become vital themes in the market. A growing emphasis on environmental obligation has brought about the enormous adoption of eco-friendly practices and the emergence of eco-conscious accommodation alternatives. Concurrently, the posh section is flourishing, with high-end hotels and resorts providing top-class, tailored experiences catering to various vacationer possibilities in this dynamic and evolving hospitality panorama. 

Moreover, cities like Riyadh and Jeddah have experienced a surge in business travel as Saudi Arabia solidifies its function as a regional business hub. Establishing dedicated commercial enterprises and conference centers, which include the King Abdullah Financial District in Riyadh, has significantly multiplied the demand for lodges. Furthermore, the country’s massive infrastructure development, encompassing transportation networks, modernized airports, and high-speed rail systems, has advanced connectivity and eased access to diverse regions across Saudi Arabia, making it more attractive for commercial enterprises and entertainment tourists. Hence, the Saudi Arabia hotel market will grow to US$ 62.57 billion by 2030.

Besides, Saudi Arabia’s cultural and spiritual significance is underscored by its status as the house of the Islamic holy towns of Mecca and Medina. These cities attract thousands and thousands of religious pilgrims annually, making the call for motels consistently robust. The peak seasons throughout the Hajj and Umrah draw even larger crowds, further amplifying the need for accommodations. Pilgrims worldwide are searching for a sacred adventure to those destinations, ensuring that the lodge market in Mecca and Medina plays a pivotal role in accommodating the spiritual wishes of endless visitors over the year.

The high-end motel segment is surging in the Saudi Arabia hotel market

Saudi Arabia has actively promoted tourism, with projects like Vision 2030 encouraging domestic and international journeys. As a result, there may be a developing influx of vacationers and business travelers searching for top-class motels. High-end motels cater to this need, supplying cutting-edge amenities, high-priced stories, and cultural immersion, often at lower-priced expenses than traditional luxurious hotels. Also, motels can be strategically positioned, providing convenient access to sights and enterprise hubs. The upward thrust of high-end resorts reflects their capability to mix affordability and comfort, making them an attractive choice within the evolving Saudi Arabia hotel market. 

Type – The Saudi Arabia Hotel Market has been covered from three viewpoints

  1. High End
  2. Mid-Scale
  3. Budget

Online booking platforms are poised to dominate the Saudi Arabia Hotel Market

The proliferation of the digital generation in Saudi Arabia, characterized by improved internet and cellphone utilization, has notably improved the ease and accessibility of online booking, catering mainly to the tech-savvy younger generation. The pandemic expedited the transition to contactless booking, with a desire for digital platforms. These digital avenues offer an array of alternatives, simplifying payment comparisons and overviews, which fosters transparency and builds agreement amongst consumers. To recap, the intersection of tech-savvy demographics, comfort, and safety considerations firmly positions online booking systems to seize an excellent proportion of the Saudi Arabia Hotel Market.

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Ordering Platform – The Saudi Arabia Hotel Market has been covered from two viewpoints.

  1. Online
  2. Offline

The Jeddah hotel industry thrives as a dynamic sector within the Saudi Arabia Hotel Market.

As Saudi Arabia’s commercial and cultural hub, Jeddah attracts a steady stream of business and leisure travelers. Its strategic coastal location along the Red Sea and its rich cultural heritage and tourism initiatives foster a diverse range of visitors. The city’s ever-expanding infrastructure, including new convention centers and mega-projects, further boosts its appeal. Furthermore, Jeddah’s growing popularity as a tourist destination benefits from relaxed visa regulations, enhancing accessibility for international travelers.

Regions – The Saudi Arabia Hotel Market has been covered from six viewpoints

  1. Makkah
  2. Riyadh
  3. Madinah
  4. Jeddah
  5. Al Khobar
  6. Dammam

Competitive Landscape

The leading companies in the Saudi Arabia hotel market are Dur Group, Al Hokair Group, Altyaar Group, IHG Group, Marriot International, Accor Middle East, and Hilton Hotels.

Company Insights

  • Overview
  • Recent Development and Initiatives
  • Sales Analysis

Analysis of the companies present in the Saudi Arabia hotel market

  1. Dur Group
  2. Al Hokair Group
  3. Altyaar Group
  4. IHG Group
  5. Marriot International
  6. Accor Middle East
  7. Hilton Hotels.

About the Company: 

Renub Research is a Market Research and Information Analysis company with more than 14 years of experience in Research, Survey, and Consulting. Our research helps companies to take business decisions: on strategy, organization, operations, technology, mergers & acquisitions, etc. Till now we have published more than 7000 syndicated reports and worked on more than 500 custom research projects. Currently, we are supplying data to EMIS, Bloomberg, Thomson Reuters, etc. We support many blue-chip companies by providing them with findings and perspectives across a wide range of markets.

Media Contact:

Company Name: Renub Research

Contact Person: Rajat Gupta, Marketing Manager

Phone No: +1-478-202-3244 | +91-120-421-9822 (IND)

Address: 225 Kristie Ln, Roswell, GA 30076

Email: info@renub.com

LinkedIn: https://linkedin.com/company/renub-research

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