Accor and Marriott International maintain the top room counts among parent companies operating in in the Middle East, according to STR.
As part of the STR 500, the company will release the top 50 companies and brands in the Middle East during this week’s Arabian Hotel Investment Conference (AHIC) in Ras Al Khaimah (April 9-11).
Accor (34,327 hotel rooms) and Marriott International (33,757) were the only two companies with at least 30,000 rooms in the region as of February 28. Using that same cutoff date, the two largest brands in the Middle East are Millennium Hotels and Resorts (8,852) and M?venpick Hotels & Resorts (8,454), which is owned by Accor.
InterContinental Hotels Group (23,331 rooms), Rotana Hotel Management (16,860 rooms) and Hilton Worldwide (14,916 rooms) capped the top five parent companies.
“Supply remains a hot topic in the Middle East when looking at both the recent impact on performance as well as how much new inventory continues to be developed as part of ‘mega-events’ and economic initiatives,” said Philip Wooller, STR’s area director for the Middle East & Africa. “The growing presence of so many major global companies and brands speaks to the importance of the Middle East as developers identify growth opportunities in this sector of real estate. The region will certainly be key on the global development landscape for years to come.”
Wooller will be one of several STR executives in attendance at AHIC. - TradeArabia News Service
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