Bahrain's hospitality sector continues to see development growth with 15 four- and five-star hotel projects and 5,100 guest rooms, estimated to cost over $10 billion, currently in the pipeline, said a report by property expert CBRE.
Set to open over the next five years, the brands include: The One&Only Resort, Wyndham Grand Hotel, Fairmont, Vida Hotel & Resort, Ibis Hotel and Pullman Hotel.
These hotels will add to the kingdom’s existing supply of more than 190 hotels and resorts. This includes 18 five-star hotels, 48 four-star hotels, 35 three-star hotels, 81 serviced apartments and 11 resorts, it said.
According to the Bahrain Tourism and Exhibition Authority (BTEA), 12.3 million tourist visitors entered the Kingdom in 2016, a 6 per cent increase from 2015, with 88 per cent of day and short trips from Saudi Arabia over the King Fahad Causeway, forming the majority of the hotel room demand for Bahrain.
The current average hotel occupancy for the region in 2016 to date is 60 per cent in comparison to 53 per cent for Manama, Bahrain.
“The region is seeing an influx of new hotel rooms in spite of reduced demand and prolonged economic challenges primarily as a result of deflated oil prices. The majority of hotel rooms available in the Bahrain market in 2016 were in the four-star market constituting 43 per cent of total room supply. In terms of future supply of hotel rooms in the development pipeline, there are an additional 5,100 rooms planned to be introduced by 2021 in the five-Star category which will further advance the standard of property in the Bahrain market,” said Heather Longden, associate director, CBRE Bahrain. - TradeArabia News Service
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