Immense Potential For Investors In Dubai'S Hospitality Sector As 19,200 Rooms Already In The Pipeline: Les Roches Alumni Report

( MENAFN - ForPressRelease) 24th October, 2024 - A recent Report by Les Roches Global Hospitality Education alumnus, one of the world's leading hospitality schools, delves in-depth into the opportunities for investors in the Dubai hotel industry. Notably, UAE is the second country after Saudi Arabia regarding the highest number of projects across the Middle East; Dubai is leading the cities across UAE with 19,200 rooms in the pipeline with 67 projects. The Report 'A Clear Roadmap for a Hotel Business investment in Dubai' highlights that occupancy levels are expected to sustain an upward trajectory, further solidifying Dubai's position in the global hospitality market.

Occupancy rates have shown consistent growth, hitting a record 90.8% in February 2024, underscoring the strong demand in the market. Moreover, average daily rates (ADR) and revenue per available room (RevPAR) have risen significantly by 9.

3% and 13.1%, respectively, reflecting strong profitability, according to reports from STR and Deloitte. The city reports consistent month-over-month increases in RevPAR levels, "If we look at the pipeline for the next seven years, 46% of the projected keys fall into the luxury category, 25% go into the upmarket category, and roughly 4% go into the three-star hotel category.

The five-island development, formerly known as Deira Islands, is in line with the UAE's continuous efforts to become a top worldwide destination for visitors and investors," the report by Fares Yacti.