US$3.63 trillion slated for hospitality industry by 2020

A recent study predicts that the Middle East is set to see US$3.63 trillion invested in the hospitality industry by 2020.
US$3.63 trillion slated for hospitality industry by 2020
By Mohammed Aly Sergie
Sun 23 Dec 2007 04:00 AM

A recent study predicts that the Middle East is set to see US$3.63 trillion invested in the hospitality industry by 2020.

The Fast Future Ventures study anticipated a marked increase in investments in hotels, leisure projects, aviation developments, cruise lines, tourism promotion and supporting infrastructure in order to accommodate more than 150 million visitors by 2020.

Just last week, Starwood Hotels & Resorts Worldwide announced the launch of two new hotels in Amman and Abu Dhabi. The two hotels it is launching are a new twist on the normal model of luxury that characterises the region's hospitality offering.

In Abu Dhabi, the company is bringing its much-anticipated new lifestyle brand ‘aloft' hotels - which will be the first aloft hotel in the Middle East. Aloft is partnering with Abu Dhabi National Exhibitions Company. Construction starts in 2008, and the hotel is expected to open in late 2009. The 408-room hotel will be located within the Abu Dhabi National Exhibition Centre.

As a complementary brand of the chic W Hotel, aloft is shaking up the lodging industry with urban-influenced design. Each guest loft is also a combination high-tech office and entertainment centre, featuring a one-stop connectivity solution for multiple electronic gadgetry such as PDAs, cell phones, mp3 players and laptops.

In Amman, Starwood is building Jordan's first W Hotel. Scheduled to open in 2011, this highly anticipated development is expected to become a vibrant destination in the heart of the historic city of Amman. As in Abu Dhabi, Starwood teamed up with a local partner, the Hariri family's Saraya real estate company. W Amman is the brand's fourth hotel in the region following W Doha, W Dubai Festival City, and W Dubai The Palm.

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