The total number of hotel projects currently under construction in Makkah currently exceeds 100 towers--and a number of those hotels are nearing completion, adding more than 24,500 hotel rooms, according to The Saudi Commission for Tourism and Antiquities.
The Commission expects the kingdom to witness a boom in the field of hotel facilities and projects during the next two years, and calculates an estimated investment of $38.4 billion by 2020, according to Hotelier Middle East.
The findings predict growth to be driven by the development of Saudi cities and the increasing annual growth of local tourism. They also suggested many of these properties will be operated by international hotel chains.
Investments in hotel projects that will launch in the next two years in Makkah is expected to reach $4.9 billion.
Riyadh, meanwhile, is poised to get 70 hotels during the next two years, with more than 8,180 rooms and investments up to $4.3 billion.