Middle East Hotel Construction Pipeline Sees Growth in Q1 2024

Middle East Hotel Construction Pipeline Sees Growth in Q1 2024

By Nithyakala Neelakandan

Published on May 19, 2024

The latest report from Lodging Econometrics (LE) provides valuable insights into the thriving hotel construction landscape in the Middle East, particularly during the first quarter of 2024. Amidst evolving trends and increasing demand, the region experienced a notable 5% increase in projects year-over-year, culminating in a total of 612 projects encompassing 144,222 rooms.

As of Q1 2024, the Middle East showcases a robust construction scene, with 302 projects actively underway. Furthermore, 133 projects are slated to commence construction within the next 12 months, indicating a 28% increase in projects year-over-year. Additionally, the early planning stage witnessed significant growth, with 177 projects in the pipeline, marking an 18% increase from the previous year.

Top Countries:

Saudi Arabia emerges as a frontrunner in hotel development, boasting a record-high of 318 projects, while Egypt closely follows with an impressive count of 103 projects. These nations demonstrate substantial investment in the hospitality sector, reflecting their commitment to meeting the growing demand for accommodations.

Major Cities:

Within the Middle East, certain cities and provincial regions stand out for their burgeoning hotel construction pipelines. Provincial areas, alongside cities like Riyadh, Jeddah, and Cairo, boast the largest number of projects and rooms. This concentration highlights the strategic importance of these urban centers in catering to the region's diverse tourism needs.

Future Outlook:

Looking ahead, the Middle East's hospitality sector is poised for continued expansion, with LE forecasting the opening of 107 new hotels and 26,743 rooms by the end of 2024. Furthermore, an additional 101 new hotels with 26,743 rooms are anticipated to be operational by the close of 2025. These projections underscore the region's enduring appeal as a global tourism destination and signal ample opportunities for stakeholders in the hospitality industry.

The growth witnessed in the Middle East's hotel construction pipeline reflects the region's resilience and adaptability in meeting the evolving needs of travelers. As major events and cultural attractions continue to drive demand, developers are capitalizing on these opportunities to enhance the region's hospitality infrastructure, ensuring a memorable and comfortable experience for visitors from around the world.


Royal Caribbean Group raises dividend by 33% to $1 per share

Royal Caribbean Group raises dividend by 33% to $1 per share

By Manu Vardhan Kannan

Published on September 14, 2025

Royal Caribbean Group (NYSE: RCL) has announced a significant increase in its shareholder returns, declaring a 33% hike in its quarterly dividend. The company’s Board of Directors approved a dividend of $1.00 per common share, payable on October 13, 2025, to shareholders of record at the close of business on September 25, 2025.

Jason Liberty, President and CEO of Royal Caribbean Group, said the move underscores the company’s confidence in its performance and long-term growth strategy. “Today’s dividend increase reflects both the strength of our performance and our commitment to return capital to shareholders. This increase in dividend, along with our ongoing share repurchase program, highlights our balanced approach to capital allocation, returning value to shareholders while funding future growth,” Liberty stated.

Royal Caribbean Group is a global leader in the vacation industry, operating a fleet of 68 ships across five brands that serve millions of guests annually. Its portfolio includes Royal Caribbean International, Celebrity Cruises, and Silversea, as well as land-based experiences such as Perfect Day at CocoCay and the Royal Beach Club collection. The company also holds a 50% joint venture in TUI Cruises, which manages brands like Mein Schiff and Hapag-Lloyd Cruises.

With a reputation for innovation and guest-focused experiences, Royal Caribbean Group continues to expand its global footprint while maintaining its commitment to responsible and sustainable growth.


Apeejay Surrendra Park Hotels Reports Rs 13 Crore Net Profit in Q1 FY26

Apeejay Surrendra Park Hotels Reports Rs 13 Crore Net Profit in Q1 FY26

By Manu Vardhan Kannan

Published on August 18, 2025

Apeejay Surrendra Park Hotels Limited (ASPHL) announced its financial results for Q1 FY26, recording a net profit of Rs 13 crore. Revenue from operations stood at Rs 154 crore, a 14% increase year-on-year, while operating EBITDA grew 16% YoY to Rs 45 crore. The company maintained an industry-leading occupancy of 92%, reaffirming its leadership in the hospitality sector.

ASPHL’s growth is fueled by expansion into Tier 2 and Tier 3 markets. The company recently signed an MoU to acquire and manage four leisure properties in Goa, Manali, Shimla, and Dharamshala, adding 138 rooms under its brand. These steps align with ASPHL’s strategy to broaden its presence in high-potential tourism destinations and double its key count to 5,750 over the next five years.

Flurys, ASPHL’s iconic bakery and confectionery brand, now operates 102 outlets nationwide, reflecting the company’s focus on expanding its market presence while integrating modern amenities with rich cultural heritage.

Commenting on the performance, Vijay Dewan, Managing Director, Apeejay Surrendra Park Hotels, said,

"We have delivered an extraordinary and best-ever Q1, setting a strong momentum for the year ahead. With topline growth of 14% and EBITDA growth of 16%, we recorded India’s highest occupancy of 92% and maintained leadership in RevPAR in the upper-upscale segment. ARR improved by 13% and RevPAR increased by 12%. With nearly 600 new rooms added, including a 41% rise in our asset-light model, and nationwide Flurys rollout, we are poised to scale faster, enhance margins, and deliver exceptional shareholder value."

ASPHL’s strong performance in Q1 FY26 underscores its strategic focus on market expansion, operational excellence, and premium guest experiences.


Marriott Announces Dividend and Expands Share Buyback Plan

Marriott Announces Dividend and Expands Share Buyback Plan

By Manu Vardhan Kannan

Published on August 10, 2025

Marriott International, Inc. has declared a quarterly cash dividend of 67 cents per share on its common stock, reaffirming its commitment to delivering shareholder value. The dividend will be paid on September 30, 2025, to shareholders who are on record as of August 21, 2025.

Alongside the dividend announcement, the hospitality giant also revealed an expansion of its share repurchase program. The board of directors has authorized the repurchase of an additional 25 million shares of its Class A common stock. This comes in addition to the approximately 7.4 million shares that were still available under previous authorizations as of July 30, 2025.

Marriott has already bought back 6.4 million shares this year, amounting to $1.7 billion. These moves reflect the company’s continued confidence in its financial stability and long-term performance, aiming to strengthen shareholder value through strategic capital allocation.

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