A new study conducted by STR at the Arabian Travel Market (ATM) showcases a bullish growth in the hospitality sector in the Gulf region in 2024. The research highlights how government initiatives, such as 'Saudi Vision 2030' and the UAE's 'We are UAE 2031' campaign, drive growth and increase tourism opportunities in the region. The study also highlights luxury hospitality as a key growth factor, with industry leaders planning to showcase exclusive ideas at ATM 2025.
The hospitality sector in the Gulf region is experiencing a strong recovery, according to new data prepared by STR from the Arabian Travel Market (ATM), with significant growth registered in the region for 2024. According to the report, the aggregated revenue per available room (RevPAR) in Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE increased by 5.4% last year compared to 2023, mainly due to rising occupancy levels.
The event will also feature exclusive ideas from leading industry experts, including Hyatt's Matt Matara, the regional director for India, the Middle East, and Africa at IHG Hotels & Resorts, who are shaping the future of the hospitality sector in the region. Matt Matara stated: "The emerging markets of the Gulf are in an exciting phase of growth for tourism and hospitality, stimulated by key governmental initiatives that lead to increased demand in hospitality segments.
Historically, the Gulf's markets have been defined by luxury hospitality, and demand is likely to grow due to factors such as the development of giga- and megaprojects, increased business activity, and enhanced outbound tourism. We aim to bring and develop the best in class global brands in the region, including Regent, Six Senses, InterContinental, Kimpton, Vignette Collection, Hotel Indigo, and are ready to make our contribution to the dynamic hospitality landscape, offering tailored experiences for a broad range of travelers."
During the event, Matara will conduct a session titled "Hospitality Reinvented, Find Your Competitive Edge", which will explore the challenges and opportunities shaping growth in the regions of the Middle East, Africa, and South-East Asia. As demand for premium travel grows, the Gulf region is excellently positioned to strengthen its reputation as a global hub for luxury tourism.
ATM 2025 will present a diversity of leading brands in the hospitality industry and luxury, including IHG Hotels & Resorts, Jumeirah International, Address Hotels + Resorts, Mandarin Oriental, Four Seasons, Kempinski, Kerzner International, The Peninsula Hotels, Hilton Worldwide, and Wyndham Hotels & Resorts Middle East.
