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Friday, March 29, 2024
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UAE continues to push ahead with luxury resorts

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While tourist destination Dubai often grabs headlines with novel resort concepts, we shouldn’t forget smaller emirates like Ras Al Khaimah, which are looking for a bigger slice of the pie and plan to provide The area has attracted another 20,000 hotel keys over the years.

quarter million key

Tourism is one of the largest non-oil revenue generators for the Middle Eastern country, and its hotel supply reflects this. By the end of September 2022, benchmarking firm STR calculates that the UAE has more than 202,000 existing rooms and 48,910 rooms under construction. By 2030, this should create a total of nearly 251,000 keys.

In the high-end hospitality sector, the UAE will welcome at least 130 high-end hotels totaling nearly 34,000 rooms in the next few years, according to THP.

Extravagant tendencies

In terms of upcoming hotel openings, the country’s reputation for luxury remains undiminished, with 64% of high-end projects being five-star, equivalent to 83 locations, while the remaining 36%/47 projects are upscale four-star properties.

The trend toward more direct deliveries is strong, with 68 properties set to complete this year, representing 52% of the current premium pipeline. Looking ahead, rates will drop significantly, with 27 sites planned to open in 2024, then just seven in 2025 and five in 2026. The remaining 23 projects have either not yet specified delivery dates or will open after 2026.

dubai rule

In terms of high-end deliveries, Dubai appears set to maintain its position at the top of the tree, with 81 projects headed to the emirate over the next few years, accounting for 62% of the pipeline.

Far behind are Sharjah in 14th, Ras Al Khaimah in 13th and Abu Dhabi in 10th.

Highlights

One of the major Dubai developments to watch is the Heart of Europe, a self-contained, upscale resort located 6 kilometers offshore among the World Islands. The new district, developed by the Kleindienst Group, will include 16 hotels and resorts inspired by major European cities.including 250 rooms Venice Hotelwill open in the first quarter of 2024, offering seven-star accommodation and dining experience above and below water.

Another ‘world in the city’ destination in Dubai is the Falconcity of Wonders, which will soon be together vegaa pyramid-shaped hotel-apartment complex, will deliver 450 keys in the third quarter of 2023.

Elsewhere in the UAE, the Hard Rock Hotels brand will come to Abu Dhabi in the third quarter of 2023, with a 37-storey skyscraper comprising 378 rooms.After facing numerous delays, the project was finally launched again late last year, and Hard Rock Hotel Abu Dhabi There will be a variety of specialty restaurants, entertainment and meeting facilities, including Hard Rock Cafe and sky bar with swimming pool.

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