Accommodation and tourist attractions will drive the hospitality market in Saudi Arabia over the coming five years. Travel accommodation will grow most significantly from now until 2017; with increased project spend of 24% over that time. The tourist attraction market follows closely behind, set to grow 23% within the same period.
With such opportunity, companies from across the region are looking for ways of getting closer to the market. Christine Davidson, event director for The Hotel Show Saudi 2014, has seen increasing diversification from companies looking to capitalise on sector growth, she said: “The hospitality sector in Saudi Arabia has significant potential, at present and for the foreseeable future.
“We see companies looking for a platform where they can find out more about the latest products and services available to them in order to drive this growth forward. The Hotel Show Saudi brings global products and brands to a local audience, providing a unique opportunity for business and information mining,” she said.
Other core sectors expected to present opportunities in the Kingdom include travel retail and transportation, anticipated to see 22 and 21% growth respectively 2014 – 2017. Both Riyadh and Jeddah are currently in the top 10 cities for new hotel projects in the Middle East , representing 60% of the total number of projects in the Kingdom. This year’s edition will also include the participation of Samsung Electronics, which will showcase its full suite of hospitality products designed to enhance the hotel experience.
“Saudi Arabia is an exciting market, and offers significant growth potential across all facets of its hospitality sector,” said Mr. JaeCheon Park, general manager, Samsung Electronics, Saudi Arabia. “We are very pleased to feature our innovative hospitality solutions, which can significantly enhance guests’ stay. At The Hotel Show Saudi, we will offer visitors a chance to experience Samsung’s full range of hospitality products, from stunning visual display technology and smooth, cloud-based operations systems that elevate industry standards and usher in the future of the sector,” he added.
The Hotel Show Saudi Arabia, taking place at Jeddah Centre for Forums & Events from 22-24 April, is supported by the Jeddah Chamber of Commerce and Industry, the Saudi Commission for Tourism and Antiquities and MICE. Knowledge Partners include Euromonitor International, Ventures Middle East and Top Hotel Projects.
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