With upcoming mega events like Expo 2020, Dubai is set to double the number of its hotels.
Hospitality Management Holdings, a dubai-based hotel management company, is looking to double its portfolio in the UAE and Saudi Arabia in the next five years, according to the GCC Hospitality Industry report conducted by Alpen Capital.
Capital investments in the sector is set to grow to 5.4% each year, until 2026 according to the same report. While this number seem positive, it is considered a minimum prerequisite for Gulf economies to become sustainable and ensure resilience, away from oil.
