Ras Al Khaimah is expected to add more than 4,000 hotel rooms over the next three years as it targets one million visitors by the end of 2018.
Ras Al Khaimah Tourism Development Authority (RAKTDA) announced an anticipated 4,445 new rooms to open over the coming years, ranging from 3 to 5 star properties.
“As Ras Al Khaimah draws closer to reaching the one million visitors target by the end of 2018, the need for quality hotel rooms has never been so important. To accommodate this growth in visitors, we are providing potential investors a range of innovative opportunity to develop stand out properties across the emirate,” said Haitham Mattar, CEO of RAKTDA.
According to STR, Ras Al Khaimah achieved the second highest average daily rates (ADR) and revenue per available room (RevPAR), and third highest occupancy in the GCC during the first quarter of this year.
Official visitor numbers from RAKTDA’s reports reveal that occupancy during this period averaged 75.5 percent, an increase of 6.2 percent when compared to Q1 last year.
“These strong performance indicators, which are expected to continue throughout 2017 and beyond, clearly outline the potential for investors in looking at Ras Al Khaimah for their next hospitality venture,” added Mattar.
A key area for hotel growth is Al Marjan Island, an archipelago stretching 4.5km out to sea. Already boasting the Rixos Bab Al Bahr, DoubleTree by Hilton Hotel Resort & Spa Marjan Island, and Marjan Island Resort & Spa, managed by AccorHotels, the islands have been earmarked for and additional 16 hotels by 2025.
“It is an exciting time for hoteliers and hotel investors in Ras Al Khaimah, and with renowned international names joining the portfolio of accommodation options, it provides for greater recognition of the emirate’s potential for investors. Working with independent assesors, we have outlined strong return on beach and mountain properties. Looking at beach resorts in particular, existing hotels have shown high profit conversion when compared to similar regional markets,” said Mattar.
“With the increased focus on Jebel Jais and active adventurers over the last 12 months, and with further products to be introduced later this year, there is a range of opportunities to develop luxury mountain resorts and wellness retreats in the coming years,” he added.For all the latest travel news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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