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Saudi Arabia

Boom in hotel investment

JEDDAH: Makkah region, which attracts more than 10 million pilgrims annually, has the largest number of hotels in the Kingdom, a report said yesterday.
Total investment in hotels and furnished apartments in the country would reach SR 97.5 billion by 2020, it added. About 54.8 percent of hotels in the Kingdom are in the Makkah region, followed by Madinah (16.7%) and Eastern Province (9.5%). Two-star hotels account for 68.2% of the total, followed by three star (18.8%), five star (8.3%) and four star (4.6%).
The report was released by Muhammad Al-Amri, executive director of the SCTA in the Makkah region on the occasion of Hotel Show Saudi Arabia 2012, which will be held in Jeddah on Nov. 17-19.

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