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Saudi Hospitality Sector in Boom

Responsible for supervision of the hotel sector, Saudi Commission for Tourism and National Heritage (SCTH) has highlighted the success of its initiatives, which resulted in a 300 percent growth of tourist accommodation options in 2016 to 6,527 facilities, compared to 1,402 in 2009.

The positive shift is also attributed to increased international investment in the industry, with the presence of global brands encouraging more diverse property types.

To attract further investment, SCTH has launched a lending programme for financing tourism and hotel projects, approved by its National Transformation Program 2020.

The Kingdom is expected to welcome 42 new hotels this year, with 219 properties in the pipeline. Estimated hotel investment is set to reach SAR143.9 billion (USD38.4 billion) by 2020.