DUBAI, 6th December 2016 (WAM) -- Some 235 key decision makers and experts from the UAE and the Kingdom of Saudi Arabia were reunited with suppliers from across the globe at the 9th Hotelier Summit-UAE and KSA which opened today to provide a meeting platform for leading hotel owners, operators, developers, architects, interior designers, consultants and service providers in the hospitality industry.
"The initiative is featuring various seminars, presentations and panel discussions focusing on the new hotel designs and sustainable, high-tech and locally authentic hotel properties, beside the challenges that are faced in the hospitality sector in UAE and KSA," said Ganesh Babu, Director of India and Middle East, IDE, organiser of the summit.
The two-day summit provides an opportunity for holding one-on-one business meetings as well as networking sessions.
Citing a report issued by Alpen Capital in the second half of 2016, IDE said that hospitality industry in the UAE is expecting an important expansion due to the huge potential inflow of tourists for the World Expo 2020 to be hosted in Dubai.
The report also confirmed that more than 136,000 hotel and serviced apartment rooms are likely to enter the GCC hospitality market, taking the total inventory to nearly 770,000.
Of these, the UAE and Saudi Arabia are anticipated to witness addition of more than 60,000 and 47,000 rooms, respectively, by 2020.
The UAE hospitality sector revenue is anticipated to reach US$ 9.8 billion by 2020, translating into a robust 10.8 per cent annualised growth from 2015. Saudi Arabia's hospitality sector revenue is projected at US$ 23.1 billion in 2020, indicating an annual average growth of 6.2 per cent from 2015.
Source: Emirates News Agency