Exploring the Growing GCC Hospitality Industry: Hotels and Serviced Apartments - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "GCC Hospitality Market: Analysis by Segment (Hotels and Serviced Apartments), By Region Size & Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

This comprehensive report provides detailed insights into the hospitality industry in the Gulf Cooperation Council (GCC) region. The report covers various enterprises and services in the GCC hospitality industry related to travel, tourism, and lodging. These include hotels, resorts, serviced apartments, restaurants, cafes, theme parks, tour operators, travel agencies, airlines, and other businesses catering to tourists and travelers from the GCC and around the world. The GCC hospitality market was valued at US$25.61 billion in 2022 and is expected to reach US$37.62 billion by 2028.

Market Segmentation Analysis

The report analyzes the GCC hospitality market based on two segments: Hotels and Serviced Apartments. The hotel segment dominated the market in 2022, driven by government policies and initiatives encouraging private sector investments in the hospitality industry. On the other hand, the serviced apartment segment is expected to witness the highest CAGR in the future as travelers seek more flexible and personalized lodging options.

Regional Market Analysis

The report provides insights into the GCC hospitality market based on geographical operations in Saudi Arabia, UAE, Oman, Bahrain, Kuwait, and Qatar. Saudi Arabia's hospitality market held the highest market share in 2022, driven by socio-economic reforms under Vision 2030, aimed at making the country more modern, liberal, and tourism-friendly. Qatar's thriving tourism industry, strategic location, world-class infrastructure, and diverse cultural offerings contribute to its hospitality market growth.

Market Dynamics

The report explores the growth drivers, challenges, and trends influencing the GCC hospitality market. Rising disposable incomes and economic conditions drive increased travel spending, leading to higher demand for lodging and related services. However, the sector faces challenges such as supply chain issues, labor shortages, and seasonality. The growing trend of serviced apartments offers an alternative lodging choice catering to changing traveler demands.

Competitive Landscape and Recent Developments

The GCC hospitality market is moderately fragmented, with various companies dominating in different regions. Mergers and acquisitions are common as companies seek strategic expansion. Key players include Seera Holding Group, Gulf Hotels Group B.S.C., Abdul Mohsen AI Hokair Group, Abu Dhabi National Hotels Company PJSC, and more.

Key Topics Covered:

1. Executive Summary

2. Introduction

2.1 GCC Hospitality: An Overview

2.1.1 GCC Hospitality Overview

2.1.2 GCC Hospitality Segmentation

3. GCC Market Analysis

3.1 GCC Hospitality Market: An Analysis

3.2 GCC Hospitality Market: Segment Analysis

4. Regional Market Analysis

5. Impact of COVID-19

6. Market Dynamics

6.1 Growth Drivers

6.1.1 Rising Travel Spending

6.1.2 Mounting Hotel Supply

6.1.3 Increased Tourism

6.1.4 Augmenting GDP of GCC Countries

6.1.5 Upgrading Of Transport Infrastructure

6.1.6 Eased Visa Regulations

6.1.7 Mega Events

6.2 Challenges

6.2.1 Supply Chain Issues and Labor Shortages

6.2.2 Economic Factors

6.2.3 Seasonality

6.3 Market Trends

6.3.1 Rising Demand of Serviced Apartments

6.3.2 Digitalization

6.3.3 Government Initiatives

6.3.4 Religious Tourism

7. Competitive Landscape

7.1 GCC Hospitality Market Players by Recent Developments

7.2 GCC Hospitality Market Players: Merger and Acquisition Comparison

7.3 GCC Hospitality Market Players: Hotel Brands Comparison

7.4 GCC Hospitality Market Players: Type Comparison

8. Company Profiles

• Seera Holding Group
• Gulf Hotels Group B.S.C.
• Abdul Mohsen AI Hokair Group
• Abu Dhabi National Hotels Company PJSC
• National Hotels Company
• National Corporation for Tourism and Hotels
• Al Sraiya Hotels & Hospitality Group
• Dur Hospitality Co.
• Katara Hospitality
• Kingdom Holding Company
• Safir Hotels & Resorts
• IFA Hotels and Resorts
• Landmark Group (CityMax Hotels)

For more information about this report visit https://www.researchandmarkets.com/r/b0u1yw

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.