MidEast construction slowdown

Dubai

The hotel construction pipeline in the Middle East declined by 7% to 579 projects at the end of the third quarter, according to Lodging Econometrics.

This was the fifth consecutive quarter the pipeline declined since reaching its cyclical peak by projects in Q2 2019.

Additionally, in the third quarter, the Middle East opened only 10 new hotels accounting for 1,779 rooms.

Countries with the most projects in the construction pipeline were Saudi Arabia with 204 projects/69,743 rooms and the United Arab Emirates with 185 projects/54,533 rooms. Following distantly was Egypt with a record 58 projects/14,610 rooms, then Qatar with 56 projects/14,286 rooms, and Oman with 33 projects/6,615 rooms.

Forty-six percent of the projects in the pipeline in the Middle East belonged to these companies at the end of the third quarter: Hilton with 95 projects/26,559 rooms, followed by Marriott International with 90 projects having 23,808 rooms. Next is Accor with 82 projects/24,724 rooms.