STR has released a report on top branded development for the Middle East.
Accor and Marriott International maintain the top room counts among parent companies operating in the region, the report found, each having 34,327 rooms and 33,757 rooms, respectively. The megachains were the only two companies with at least 30,000 rooms in the region as of February 28.
As of that date, the two largest brands in the Middle East are Millennium Hotels and Resorts (8,852 rooms) and Mövenpick Hotels & Resorts (8,454 rooms), which is owned by Accor.
“Supply remains a hot topic in the Middle East when looking at both the recent impact on performance as well as how much new inventory continues to be developed as part of ‘mega events’ and economic initiatives,” said Philip Wooller, STR’s area director for the Middle East and Africa. “The growing presence of so many major global companies and brands speaks to the importance of the Middle East as developers identify growth opportunities in this sector of real estate. The region will certainly be key on the global development landscape for years to come.”
