13% of GCC hotel projects on hold

03 May 2010

While promising signs are emerging in the hotel development market in the GCC, the fallout from the downturn is still having an impact over the sector, according to John Podaras, Director of TRI Hospitality Consulting. Citing data from companies that operate hotels in the region, Podaras told delegates at the Arabian Hotel Investment Conference today that 13% of all hotel projects in the GCC are on hold, while 6% have been cancelled.

You might also like...

A MEED Subscription...

Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications