The growth of Arabian Travel Market (ATM) over the last two decades reflects the fast-paced development of the hospitality industry in the region, as well as globally.
Now less than two years away, Expo 2020 is clearly driving this growth with Dubai’s hotel supply alone expected to reach 132,000 in 2019, and the emirate aiming to complete 160,000 hotels rooms by October 2020 – with visitor numbers predicted to reach 25 million by 2025.
Each year, we invest a huge amount of time analysing the industry and assessing the key drivers that are set to have the most significant impact on the way the tourism sector in the Middle East will evolve.
In direct response to this analysis and industry feedback, ATM 2019 will host the show’s first Hotel Industry Summit as part of its line-up of special events.
The inaugural summit, scheduled to take place on April 30 on the Global Stage, will see various panels of experts discuss the latest hotel infrastructure developments, investment opportunities and digital innovations which are shaping the region’s ever-changing industry.
In a lively session entitled ‘Direct Bookings in the Bag’, guest speaker Charlotte Gossage, founder of new direct hotel booking platform BookedHappy, will explain how her Dubai-based start-up will help hotels stand up to commission-hungry OTAs and claim back ownership of their guests.
The UAE’s hospitality market is expected to be worth $7.6 billion annually by 2022, growing at a five-year Compound Annual Growth Rate (CAGR) of 8.5% between 2017 and 2022, driven by Dubai’s Expo 2020, Saudi Arabia’s Vision 2030 and various other government initiatives to boost travel and tourism across the region.
Over the same period, hotel supply is forecast to grow at a CAGR of 6% to 183,718 keys, according to research published in a report by Alpen Capital.
In addition to this, STR data shows that the GCC is expecting an additional 58,761 hotel rooms to enter the market in 2019. The leading contributors are the UAE with 31,517 rooms (53%) in the pipeline; Saudi Arabia with 24,170 (41%); and Oman with 2,984 (5%).
Highlighting the opportunities that will drive the next era of hospitality in the region, the inaugural ATM Hotel Industry Summit is an exciting addition to what is now a comprehensive 360 industry showcase.
* Curtis is exhibition director ME, Arabian Travel Market