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Gulf region to house 80 new hotels by year 2008

As many as 80 new hotels are being developed in the Gulf to accommodate an increasing flow of inbound traffic for business and leisure travellers.
 
In all over 25,000 rooms and suites will be added to the existing regional hotel room stock by 2008.
 
Many international chains are present in the region and others are set to join the fray. A total of 28 chains representing 43 hotel brands will open their doors for business within the next three years, according to GCC Market Review by Kuwait-based Global Investment House, The Gulf Today said in a report.

In addition to super-brands such as Inter-Continental, Hilton, Sheraton, Le Meridien, Hyatt and JW Marriott, other lesser known brands will be making their debut in the region, such as Banyan Tree, Armani, Bonnington and Chelsea.
 
The performance of the hotel sector in 2005 has been excellent.
 
Hotels across the Middle East have continued their winning streak during the first six months of 2005 with revenue per available room (revPAR) increasing by 24.5 per cent, according to latest results from the HotelBenchmark Survey by Deloitte.
 
Occupancy levels are at an all-time high of 71 per cent, and although still improving, the rate of growth has slowed to 2 per cent compared to 15 per cent in 2004. Given this high demand, hotels have been able to push up average room rates, which have surged by 22 per cent to reach $115. At $82, the resulting revPAR lags behind Europe by $3 but is an impressive $26 ahead of hotels in North America. With this level of occupancy levels and average room rates, the Middle East is a market that all hotel investors should seriously consider when searching for new markets and new customers.
 
According to the World Tourism Organisation (WTO), current trends show that tourism continues to be one of the most dynamic economic sectors in the Middle East. Forecasts for international tourist arrivals to the Middle East show that there will be 68.5 million arrivals in 2020. This represents an annual growth rate of 7.1 per cent over the period 1995-2020, which is above the global growth rate of 4.1 per cent.
 
Consequently, the overall share of arrivals to the Middle East region is expected to increase over the forecast period.
 
According to the WTTC's Tourism Satellite Account Research highlights, the most promising countries include Lebanon, Qatar and the UAE.
 
These countries have enough potential to sustain and improve their tourism sector.

( http://ehotelier.com)

 
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