Dublin, Feb. 23, 2024 (GLOBE NEWSWIRE) -- The "Saudi Arabia Hotel Market, Size, Forecast 2024-2030, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.
Riyadh, Saudi Arabia - The latest comprehensive analysis of Saudi Arabia's hotel industry encapsulates the meteoric rise anticipated for the sector, forecasting a market value swell to US$ 62.57 billion by 2030. The research divulges critical trends, growth trajectories, and opportunities within the Saudi Arabian hospitality market, contextualized within the broader framework of the Kingdom's Vision 2030 goals.
The report provides an in-depth view of the market segmentation, including analysis by hotel type, booking platforms, and key regions. As digital adoption accelerates, online booking platforms for hotels are expected to capture substantial market share, revolutionizing how bookings are made within the Kingdom. With data on occupancy rates, average daily rates (ADR), and revenue per available room (RevPAR), the resource offers essential insights for industry stakeholders.
High-End Hotel Segment to Drive Market Prosperity
The high-end hotel sector is shaping up to be a beacon of growth in the hospitality landscape. Supported by Giga-projects and luxury-focused tourism initiatives, this segment commands attention for its opulent offerings that cater to affluent visitors. As the destination strategy pivots towards attracting lavish experiences, the report emphasizes the segment's trajectory for sustained advancement.
Impact of Major Projects and Government Initiatives on Industry Outlook
An extensive array of projects and government investments provides a cornerstone for the report's analysis, with key developments such as NEOM, Qiddiya, and The Red Sea Project set to significantly bolster room inventory and tourist attractions.
Regional Market Analysis Highlights Growth Hotspots
An assessment of regional markets illuminates Jeddah and Riyadh as hospitality hotspots, with Jeddah's diverse hotel offerings steering market expansion and Riyadh cementing its role as a hub for international events and commerce. This detailed regional breakdown offers a nuanced understanding of local market dynamics and potential for investment.
The holistic overview presents a sector-wide evaluation, including market valuations and projections, supported by insights into occupancy rates and revenue metrics. Notable hotel companies such as IHG Group, Marriot International, Accor Middle East, and Hilton Hotels are highlighted, providing contextual industry benchmarks.
- Depth analysis by hotel type: High-End, Mid-Scale, and Budget hotels
- Strategic insights into online and offline booking trends
- Regional insights into Makkah, Riyadh, Madinah, Jeddah, Al Khobar and Dammam
- Detailed forecasting of room volume and market valuation up to 2030
The towering ambition of Saudi Arabia's hotel industry is on full display in this new research publication, signalling a paradigm shift in hospitality and bolstering the Kingdom's position as a leading tourist destination globally.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 210 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $27.9 Billion |
| Forecasted Market Value (USD) by 2030 | $62.57 Billion |
| Compound Annual Growth Rate | 12.2% |
| Regions Covered | Saudi Arabia |
Key Topics Covered:
1. Introduction
2. Research & Methodology
3. Executive Summary
4. Market Dynamics
5. Saudi Arabia Hotel Market
6. Share Analysis - Saudi Arabia Hotel Analysis
7. Hotel Type - Saudi Arabia Hotel Market and Volume
8. Ordering Platform - Saudi Arabia Hotel Market
9. Region - Saudi Arabia Hotel Market
10. Porter's Five Forces
11. SWOT Analysis
12. Hotel/Company Revenue
Companies Mentioned
- Dur Group
- Al Hokair Group
- Altyaar Group
- IHG Group
- Marriot International
- Accor Middle East
- Hilton Hotels
For more information about this report visit https://www.researchandmarkets.com/r/cuqfc6
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