STR says Accor and Marriott International maintain the top room counts among parent companies operating in the region
Accor and Marriott International maintain the top room counts among parent companies operating in the Middle East, according to STR.
Figures released ahead of this week’s Arabian Hotel Investment Conference (AHIC) in Ras Al Khaimah reveal that 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 the end of February.
Using that same date, the two largest brands in the Middle East are Millennium Hotels and Resorts (8,852) and Mövenpick Hotels & Resorts (8,454), which is owned by Accor.
“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.”