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Riyadh Hospitality Market Outlook to 2023 - Growth in MICE Business and Surge in Tourism Supporting Occupancy Rate of Hotel Industry

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The report titled "Riyadh Hospitality Market Outlook to 2023 - Growth in MICE Business and Surge in Tourism Supporting Occupancy Rate of Hotel Industry" provides information on overview of hospitality market within Riyadh, factors influencing the hospitality market, current and future demand and supply, market insight and performance, key expected upcoming Hotel projects, key features and characteristics of Hotels in Saudi Arabia, average daily / monthly / annual rental rates and revPAR of hotels in Riyadh, Average daily occupancy rates of hotel in Riyadh, Riyadh hospitality market outlook, opportunities and future development trends, what gaps exist in Riyadh hospitality market, competitive analysis of major Hotels within Riyadh. The report concludes with recommended branded operators, Recommendations highlighting the success factors for developing luxurious resorts and Recommendations for construction of a 3 star Hotel. The report is useful for 5 star as well as 4 star hoteliers, investors in Riyadh hospitality Sector, hospitality industry associations, government / regulatory authorities and Ministry of Tourism.



Current and Future Demand and Supply:
The Hospitality market in Riyadh is showing significant potential owing to improvement in tourism, surge in personal disposable income among Saudi Nationals, developing infrastructure capabilities, increasing influx of foreign guests and others. However there exists an imbalance, in the market equilibrium skewed towards supply of hotels in Riyadh.
Both domestic as well as international tourists have been identified as the major target audience for the hospitality sector in the capital city Riyadh that are majorly looking for accommodation within premium hotels and resorts. Apart from tourists, people also come for business events and meetings (local / domestic and foreign expats) and prefer to book conference rooms and exhibition halls for project meetings. Riyadh is also known as the financial hub of the country as it consists of financial districts and business parks which host major conferences and events.
Riyadh Hospitality Market Insight:
Hospitality market of Riyadh faced a challenging economic / business environment during 2017-2018 owing to volatility / price fluctuations in crude oil after years of relative stability. Apart from that, delays in the completion of hotel infrastructure projects coupled with a decline in terms of business tourism have created a negative impact on the market. However, the market recovered during the year 2018 owing to several government initiatives which led to a higher supply of hotel rooms in the capital city Riyadh.
Riyadh Hospitality Market Outlook:
Saudi Arabia faced fluctuating crude oil prices during 2015-2017 which affected their economy negatively. It recovered after 2018 majorly due to government initiatives and change in policies. The diversification efforts led by the Government of Saudi Arabia’s have led to a subsequent boost for employment and its GDP outlook. Major hotel groups within Riyadh are further planning to start open up hotels across the nation especially in the capital city Riyadh as they aim to meet the ever growing demands of both domestic tourists and international visitors on the account of major infrastructure projects and easing visa requirements.
Over the years, major brands have contributed to the supply of hotels in the KSA. Marriott International has opened 2 Aloft Hotels (hotel chain owned by Starwood Hotels and Resorts) in the country (in Riyadh and Dhahran), Rocco Forte Hotels opened the Assila Hotel in Jeddah and in 2018 both Hilton and Swiss-Belhotel International opened three hotels each. There is also interest from other large groups such as Accor and InterContinental.
Recommendations Regarding Success Factors of Developing Hotels
Location is a factor of paramount importance in the hospitality sector. Location can affect a Customer’s buying decision in many ways, Proximity to the Airport, Connectivity within the city, proximity to Shopping malls and places of Leisure/Sightseeing, the overall surroundings of the hotels, other infrastructure/hotels located near the hotel and others are all factors people consider with regards to location in the Hospitality sector.
The design of Hotels should be unique but elegant. Since Riyadh caters to mostly high-profile customers, and thus should focus on comfort, elegance and grandeur. Brands have been seen to use their Architecture, as marketing material. The Architecture must complement the natural environment. It plays a massive role in giving a unique and personalized experience to guests, regardless of a hotel’s brand affiliation
Hoteliers in order to diversify their business operations must try to identify their target customers i.e. origin of their customers, income class and geography of their customers.
Competitive Analysis:
The hospitality market within Riyadh was observed to be highly competitive in terms of their offerings and the prices they offer. Each 3 star hotel has to compete in order to gain a new customer, so the quality of offerings automatically improves. Construction parameters and services offered become the basis for competition. The existing hotels are offering attractive discounts on room rates to increase the occupancy however at the cost of the ADRs, thus adding significant pressure on margins.
Competition via Hotel Type: Within Riyadh, the mid-market hotel segment is giving a stiff competition to the luxury hotel segment, which has dominated the Riyadh hospitality sector in terms of supply and pricing for a long period of time. The mid-market hotel segment includes mid-range priced hotels with modern amenities at lower costs. It has helped to generate market demand from emerging countries thereby, increasing occupancy rates yet causing a downward pressure on ADR
Key Segments Covered:
By Type of Hotels
One Star
Two Star
Three Star
Four Star
Five Star
Key Target Audience
5 star, 4 star and 3 Star hoteliers
Investors in Hospitality Sector
Hospitality Industry Associations
Government/Regulatory Authorities
Ministry of Tourism
Time Period Captured in the Report:
Historical Period: 2013-2018
Future Forecast: 2019-2023
Case Studies Covered:
Hyatt Palace
Double Tree –By Hilton
Mira Trio Hotel
Carawan Al Fahad Hotel
Al Mashreq Boutique Hotel
Business Inn Tahlia Hotel
Hotel Novotel (Riyadh)
Ibis Riyadh (Olaya Street)
Holiday Inn (Olaya Riyadh)
Key Topics Covered in the Report
Factors Influencing the Hospitality Market in Riyadh, KSA
Demand and Supply Analysis for Riyadh Hospitality Sector
Riyadh Hospitality Market Insight and Performance
Key Expected Hospitality Projects in Riyadh
Key Features and Characteristics of Hotels in Saudi Arabia
Average Daily / Monthly / Annual Rental Rates And RevPAR of Hotels in Riyadh
Average Daily Occupancy Rates of Hotel in Riyadh
Riyadh Hospitality Market Outlook, Opportunities and Future Development Trends
Does the Landscape of Hospitality in Saudi Arabia is Forecasted to be Positive and Encouraging to Invest in this Sector?
What Gaps Exist in Riyadh Hospitality Market?
Recommendations Regarding Success Factors of Developing Hotels
Recommended Branded Operators for Hospitality Sector in Riyadh
Recommendation for Construction of 3 Star Hotels in Riyadh
Competitive Analysis of Case Studies within Riyadh Hospitality Market
Case Studies of Major Hotels in Riyadh
READ MORE

Table Of Content

Scope

1. Executive Summary

2. Research Methodology
2.1. Market Definitions
2.2. Research Approach
2.3. Limitations

3. Factors Influencing the Hospitality Market in Riyadh, KSA
3.1. Rise in International Arrivals and Domestic tourists
3.2. Dominance of Business Tourism and Events in Riyadh
Business Tourism in Riyadh
Events and Entertainment in THE Riyadh
3.3. Government Initiatives Towards Tourism
3.4. Presence of Branded Hotel Operators
3.5. Increase in Tourist Expenditure
3.6. Tourism Contribution towards GDP of Saudi Arabia
3.7. Other Factors (Economical Factors, Geopolitical Factors, Technological Factors and Cultural Factors)

4. Demand and Supply Analysis for Riyadh Hospitality Sector
4.1. Demand and Supply dynamics
4.2. Hospitality Demand in Riyadh
Current and future Demand for Hotel rooms in Riyadh
Factors affecting demand
Demand and Occupancy Rates
Pricing Preference in Riyadh’s Hospitality Sector
Major Tourist attractions
4.3. Hospitality Supply in Riyadh
Factors Effecting Supply of Hotel rooms in Riyadh
Major Projects in Riyadh
Regions of Major Hospitality Projects
Major Upcoming Projects in Riyadh
4.4. Oversupply Situation in Riyadh Hospitality Market
4.5. Future Market Potential

5. Riyadh Hospitality Market Insight and Performance


6. Key Expected Hospitality Projects in Riyadh

6.1. Major Upcoming Hospitality Projects in Riyadh
6.2. Major Tourist Attractions

7. Key Features and Characteristics of Hotels in Saudi Arabia

8. Average Daily / Monthly / Annual Rental Rates And RevPAR of Hotels in Riyadh


9. Average Daily Occupancy Rates of Hotel in Riyadh


10. Riyadh Hospitality Market Outlook, Opportunities and Future Development Trends


11. Does the Landscape of Hospitality in Saudi Arabia is Forecasted to be Positive and Encouraging to Invest in this Sector?

11.1. Investment Potential of Saudi Arabia
11.2. Expected ROI’s for Hotels

12. What Gaps Exist in Riyadh Hospitality Market?


13. Recommendations Regarding Success Factors of Developing Hotels


14. Recommended Branded Operators for Hospitality Sector in Riyadh


15. Recommendation for Construction of 3 Star Hotels in Riyadh

15.1. Facilities to be Adopted in a 3 Star Hotel - 10,000 Sqm and 3 Floors
15.2. Design based Recommendations for a 3 Star Hotel – 10,000 Sqm and 3 Floors
15.3. Room Related Recommendations in a 3 Star Hotel – 10,000 Sqm and 3 Floors

16. Competitive Analysis of Case Studies within Riyadh Hospitality Market

16.1. Cross Comparison within Major Hotels in Riyadh

17. Case Studies of Major Hotels in Riyadh

17.1. Hyatt Group (Hyatt Palace)
17.2. Double Tree –By Hilton
17.3. Mira Trio Hotel
17.4. Carawan Al Fahad Hotel
17.5. Al Mashreq Boutique Hotel
17.6. Business Inn Tahlia Hotel
17.7. Hotel Novotel (Riyadh)
17.8. Ibis Riyadh (Olaya Street)
17.9. Holiday Inn (Olaya Riyadh)
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List Of Figure

Figure 3-1: Total Number of Domestic and International Tourists in the KSA in Million, 2017-2018
Figure 3-2: Total Number of Domestic and International Tourists in KSA in Percentage (%), 2017-2018
Figure 4-1: Current and Future Demand for Hotels in Riyadh on the Basis of Keys, 2013-2023E
Figure 4-2: Current and Future Supply for Hotels in Riyadh on the Basis of Total Number of Keys, 2013-2018
Figure 4-3: Upcoming Key Projects in Riyadh Including Total Number of Rooms and Year of Completion
Figure 4-4: Total Demand and Supply in Riyadh Hospitality Market on the Basis of Total Number of Rooms, 2018 and 2023E
Figure 4-5: Supply-Demand Gap in Riyadh Hospitality Market with Oversupply / Excess Demand Situation, 2013, 2018 and 2023
Figure 8-1: ADR and RevPAR for the Riyadh Hospitality Market, as of December 31st 2013-December 31st 2018
Figure 9-1: Current and Estimated Average Daily Occupancy Rates of Hotels in Riyadh in Percentage (%), 2013-2023E
Figure 15-1: Hotel Rooms for Branded Hotels in Riyadh: Clemence Suits
Figure 15-2: Entrance and Lobby for Branded Hotels in Riyadh: Al Sahafa
Figure 15-3: Hotel Rooms for Branded Hotels in Riyadh: Hilton Inn
Figure 15-4: Business Rooms for Branded Hotels in Riyadh: Ibis hotel
Figure 16-1: Cross Comparison of Amenities provided by Major Hotels on the Basis of Total Number of Hotels taken into account in Percentage (%) as of June 2019
Figure 17-1: Hyatt Place Snapshot- Lodging and Business: Hyatt Place Outer View (Top Left), Standard Suite (Top Right), Lounge Space (Bottom left), Conference and Presentation Space (Bottom Right) as of 2019
Figure 17-2: Hyatt Place Snapshot-Entertainment Services: Hyatt Swimming Pool (Top Left), Hyatt Bar (Top Right), Fitness Center (Bottom left), In Hotel Cafe (Bottom Right) as of 2019
Figure 17-3: Double Tree by Hilton Snapshot- Lodging and Business: Double Tree Outer View (Top Left), Standard Suite (Top Right), Presentation Room (Bottom left), Meeting Room (Bottom Right) as of 2019
Figure 17-4: Double Tree by Hilton Snapshot-Entertainment Services: Double Tree Restaurant (Top Left), Cafe (Top Right), Lounge (Bottom left), and salad Bar (Bottom Right) as of 2019
Figure 17-5: Mira Trio Hotel Snapshot- Lodging and Business: Mira Trio View (Top Left), Deluxe Room (Top Right), Standard Room (Bottom left), Meeting Room (Bottom Right) as of 2019
Figure 17-6: Mira Trio Hotels Snapshot-Entertainment Services: Mira Trio Fitness Center (Top Left), Mira Restaurant (Top Right), Swimming Pool (Bottom left), and Outer terrace (Bottom Right) as of 2019
Figure 17-7: Carawan Al Fahad Snapshot: Carawan Al Fahad Outside View (Top Left), Lounge (Top Right), Swimming Pool (Bottom left), Restaurant (Bottom Right) as of 2019
Figure 17-8: Al Mashreq Boutique Hotel Snapshot: Al Mashreq Boutique Outside View (Top Left), Suite (Top Right), Swimming Pool (Bottom left), Restaurant (Bottom Right) as of 2019
Figure 17-9: Business Inn Tahlia Hotel Snapshot: Business Inn Tahlia Hotel Outside View (Top Left), Suite (Top Right), Swimming Pool (Bottom left), Restaurant (Bottom Right) as of 2019
Figure 17-10: Hotel Novotel Snapshot: Hotel Novotel outside view (Top Left), Suite (Top Right), Lounge (Bottom left), Business Presentation Room (Bottom Right) as of 2019
Figure 17-11: Hotel Novotel Snapshot- Entertainment Services: Hotel Novotel Restaurant Food (Top Left), Pool (Top Right), Fitness center (Bottom left), and Hot Tub (Bottom Right) as of 2019
Figure 17-12: Ibis Riyadh Snapshot: Ibis Riyadh outside view (Top Left), Suite (Top Right), Lounge (Bottom left), Business Presentation Room (Bottom Right) as of 2019
Figure 17-13: Ibis Riyadh Snapshot- Entertainment Services: Ibis Riyadh Restaurant Food (Top Left and Top Right), Fitness center (Bottom left), and Restaurant Food (Bottom Right) as of 2019
Figure 17-14: Holiday Inn (Olaya Riyadh) Snapshot: Holiday Inn outside view (Top Left), Suite (Top Right), Business Presentation Room (Bottom left), Restaurant (Bottom Right) as of 2019
Figure 17-15: Holiday Inn (Olaya Riyadh) Snapshot- Entertainment Services: Swimming Pool (Left), Fitness Center (Right) as of 2019


List Of Table

Table 3-1: International Tourist Influx within Saudi Arabia by Month for 2018
Table 3-2: Entertainment Statistics in Riyadh by Type of Tourists (Domestic and International) Including Number of Attendees, Number of Events and Event Days, as of 2018
Table 3-3: Entertainment Statistics in Riyadh by Type of Event Including Number of Attendees, Number of Events and Event Days, as of 2018
Table 3-4: List of Major Venues for Conducting Business Exhibitions in Riyadh City Including Venue Name and Venue Type, as of 2018
Table 3-5: Government Initiatives towards KSA Tourism Including Gov. Initiative Name, Features and Effect on Hospitality Sector
Table 3-6: List of Branded Hotel Chains in Riyadh as of 2019
Table 3-7: Business Tourism Spending, Leisure Tourism Spending, Foreign Spending, Government Individual spending In Saudi Arabia from 2013-2019
Table 3-8: Other Factors (Economical Factors, Geopolitical Factors, Technological Factors and Cultural Factors) affecting the Demand for Travel and Tourism in the KSA
Table 4-1: Number of Hotel Rooms in Riyadh by Hotel Type (Number of Keys), 2018
Table 5-1: Current and Expected Performance within the Riyadh Hospitality Market, 2018 and 2023E
Table 6-1: Key Expected Upcoming Hospitality Projects (Movenpick hotels, Hilton Garden Inn, Westin Riyadh and Hilton Hotels and Element Riyadh) in Riyadh city Including Hotel / Project Name and Project Description
Table 6-2: List of Upcoming Hotel Openings in Riyadh Including Project Name, Project Type; Stage and Estimated Completion Year
Table 7-1: Cross Comparison of Major Hotel Chains in Saudi Arabia Including Hotel Name, Property Description, Locations and Features as of June 3rd 2019
Table 7-2: Cross Comparison of Major Hotel Prices in Riyadh on the Basis of Rental Rates per Night in SAR, 2019
Table 8-1: List of Parameters affecting the Price of Hotels in Riyadh Including Brand, Premium Facilities, Location and Room Size
Table 10-1: IQAMA Renewal Fees on the Basis of Fee in SAR / Month, 2018-2020E
Table 10-2: Summarized List of Generic and Specific Features, Room Number and Areas, Number of Floors and Rentable Area for Popular Brands of 3-Star Hotels in Riyadh
Table 11-1: Factors Influencing the Investment Decision in the Saudi Arabia Hospitality Market and their Degree of Impact (Encouraging, Positive and Negative)
Table 11-2: Cost of Hotel Construction Including Furniture, Fixtures & Equipment (FF+E), Operating Supplies & Equipment (OS+E) by Facilities by 3-Star Hotel, 4 Star Hotel, 5 Star Business Hotel and 5 Star Resort on the Basis of Cost Range (Low, Medium and High) in SAR per Square Meters, 2017
Table 12-1: List of Gaps with Possible Solutions affecting Riyadh Hospitality Sector
Table 13-1: Recommendations related to Success Factors of Developing Hotels within the KSA Hospitality Market
Table 14-1: List of Major Branded Hotel Operators Including Brand Name, Properties / Listings in Saudi Arabia and Major Properties
Table 14-2: Strengths and Weaknesses of Major Hotel Chains (Marriott Hotels & Resorts, Sheraton, Radisson Blu, Inter Continental Hotels & Resorts and Hilton Hotels & Resorts) in the Saudi Arabia
Table 15-1: Other Features offered by 3 Star hotels in Riyadh
Table 15-2: Ideal Floor Suggestions for a 3 Star Hotel in Riyadh Including Floor Type, Room Type and Area
Table 16-1: Cross Comparison of Hotels in Riyadh (Hyatt Place, Double Tree by Hilton, Mira Trio Hotel, Carawan Al Fahad Hotel, Al Mashreq Boutique Hotel)
Table 16-2: Cross Comparison of Hotels in Riyadh (Business Inn Tahlya Hotel, Hotel Novotel (Riyadh), Ibis Riyadh (Olaya Street), Holiday Inn (Olaya Riyadh))
Table 16-3: Service Comparison Matrix of Major Hotels (Hyatt Place, Double Tree by Hilton, Mira Trio Hotel, Carawan Al Fahad Hotel and Al Mashreq Boutique Hotel) in Riyadh
Table 16-4: Service Comparison Matrix of Major Hotels (Business Inn Tahlya Hotel, Hotel Novotel Riyadh, Ibis Riyadh Olaya Street and Holiday Inn Olaya Riyadh) in Riyadh
Table 17-1: Case Review of Hyatt Place-Riyadh including, Hyatt Overview, Hyatt Place overview, Number of Rooms, Number of Floors, Total Area, Room Area, Price/Night (Daily), Price/Night(Monthly), Price/Night(Annually), Services, Amenities and Facilities, Popular Locations Nearby, Customer Ratings and Reviews
Table 17-2: Case Review of Double Tree Hilton-Riyadh including, Hilton Overview, Double Tree overview, Number of Rooms, Number of Floors, Total Area, Room Area, Price/Night (Daily), Price/Night(Monthly), Price/Night(Annually), Services, Amenities and Facilities, Popular Locations Nearby, Customer Ratings and Reviews
Table 17-3: Case Review of Mira Trio Hotel Riyadh including, Mira Trio Hotel overview, Number of Rooms, Number of Floors, Total Area, Room Area, Price/Night (Daily), Price/Night(Monthly), Price/Night(Annually), Services, Amenities and Facilities, Popular Locations Nearby, Customer Ratings and Reviews
Table 17-4: Case Review of Carawan Al Fahad Hotel Riyadh including, Carawan Al Fahad Hotel overview, Number of Rooms, Number of Floors, Total Area, Room Area, Price/Night (Daily), Price/Night(Monthly), Price/Night(Annually), Services, Amenities and Facilities, Popular Locations Nearby, Customer Ratings and Reviews
Table 17-5: Case Review of Al Mashreq Boutique Hotel Riyadh including, Al Mashreq Boutique Hotel overview, Number of Rooms, Number of Floors, Total Area, Room Area, Price/Night (Daily), Price/Night(Monthly), Price/Night(Annually), Services, Amenities and Facilities, Popular Locations Nearby, Customer Ratings and Reviews
Table 17-6: Case Review of Business Inn Tahlia Hotel Riyadh including, Al Mashreq Boutique Hotel overview, Number of Rooms, Number of Floors, Total Area, Room Area, Price/Night (Daily), Price/Night(Monthly), Price/Night(Annually), Services, Amenities and Facilities, Popular Locations Nearby, Customer Ratings and Reviews
Table 17-7: Case Review of Hotel Novotel Riyadh including, Hotel Novotel overview, Number of Rooms, Number of Floors, Total Area, Room Area, Price/Night (Daily), Price/Night(Monthly), Price/Night(Annually), Services, Amenities and Facilities, Popular Locations Nearby, Customer Ratings and Reviews
Table 17-8: Case Review of Ibis Riyadh (Olaya Street) Riyadh including, Ibis Riyadh (Olaya Street) overview, Number of Rooms, Number of Floors, Total Area, Room Area, Price/Night (Daily), Price/Night(Monthly), Price/Night(Annually), Services, Amenities and Facilities, Popular Locations Nearby, Customer Ratings and Reviews
Table 17-9: Case Review of Holiday Inn (Olaya Riyadh) including, Holiday Inn (Olaya Riyadh) overview, Number of Rooms, Number of Floors, Total Area, Room Area, Price/Night (Daily), Price/Night(Monthly), Price/Night(Annually), Services, Amenities and Facilities, Popular Locations Nearby, Customer Ratings and Reviews

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Products and Companies

Products

By Type of Hotels(One Star,Two Star,Three Star,Four Star,Five Star)


Companies

Hyatt Palace,Double Tree –By Hilton,Mira Trio Hotel ,Carawan Al Fahad Hotel,Al Mashreq Boutique Hotel,Business Inn Tahlia Hotel,Hotel Novotel (Riyadh),Ibis Riyadh (Olaya Street),Holiday Inn (Olaya Riyadh)

The report titled "Riyadh Hospitality Market Outlook to 2023 - Growth in MICE Business and Surge in Tourism Supporting Occupancy Rate of Hotel Industry" provides information on overview of hospitality market within Riyadh, factors influencing the hospitality market, current and future demand and supply, market insight and performance, key expected upcoming Hotel projects, key features and characteristics of Hotels in Saudi Arabia, average daily / monthly / annual rental rates and revPAR of hotels in Riyadh, Average daily occupancy rates of hotel in Riyadh, Riyadh hospitality market outlook, opportunities and future development trends, what gaps exist in Riyadh hospitality market, competitive analysis of major Hotels within Riyadh. The report concludes with recommended branded operators, Recommendations highlighting the success factors for developing luxurious resorts and Recommendations for construction of a 3 star Hotel. The report is useful for 5 star as well as 4 star hoteliers, investors in Riyadh hospitality Sector, hospitality industry associations, government / regulatory authorities and Ministry of Tourism.



Current and Future Demand and Supply:
The Hospitality market in Riyadh is showing significant potential owing to improvement in tourism, surge in personal disposable income among Saudi Nationals, developing infrastructure capabilities, increasing influx of foreign guests and others. However there exists an imbalance, in the market equilibrium skewed towards supply of hotels in Riyadh.
Both domestic as well as international tourists have been identified as the major target audience for the hospitality sector in the capital city Riyadh that are majorly looking for accommodation within premium hotels and resorts. Apart from tourists, people also come for business events and meetings (local / domestic and foreign expats) and prefer to book conference rooms and exhibition halls for project meetings. Riyadh is also known as the financial hub of the country as it consists of financial districts and business parks which host major conferences and events.
Riyadh Hospitality Market Insight:
Hospitality market of Riyadh faced a challenging economic / business environment during 2017-2018 owing to volatility / price fluctuations in crude oil after years of relative stability. Apart from that, delays in the completion of hotel infrastructure projects coupled with a decline in terms of business tourism have created a negative impact on the market. However, the market recovered during the year 2018 owing to several government initiatives which led to a higher supply of hotel rooms in the capital city Riyadh.
Riyadh Hospitality Market Outlook:
Saudi Arabia faced fluctuating crude oil prices during 2015-2017 which affected their economy negatively. It recovered after 2018 majorly due to government initiatives and change in policies. The diversification efforts led by the Government of Saudi Arabia’s have led to a subsequent boost for employment and its GDP outlook. Major hotel groups within Riyadh are further planning to start open up hotels across the nation especially in the capital city Riyadh as they aim to meet the ever growing demands of both domestic tourists and international visitors on the account of major infrastructure projects and easing visa requirements.
Over the years, major brands have contributed to the supply of hotels in the KSA. Marriott International has opened 2 Aloft Hotels (hotel chain owned by Starwood Hotels and Resorts) in the country (in Riyadh and Dhahran), Rocco Forte Hotels opened the Assila Hotel in Jeddah and in 2018 both Hilton and Swiss-Belhotel International opened three hotels each. There is also interest from other large groups such as Accor and InterContinental.
Recommendations Regarding Success Factors of Developing Hotels
Location is a factor of paramount importance in the hospitality sector. Location can affect a Customer’s buying decision in many ways, Proximity to the Airport, Connectivity within the city, proximity to Shopping malls and places of Leisure/Sightseeing, the overall surroundings of the hotels, other infrastructure/hotels located near the hotel and others are all factors people consider with regards to location in the Hospitality sector.
The design of Hotels should be unique but elegant. Since Riyadh caters to mostly high-profile customers, and thus should focus on comfort, elegance and grandeur. Brands have been seen to use their Architecture, as marketing material. The Architecture must complement the natural environment. It plays a massive role in giving a unique and personalized experience to guests, regardless of a hotel’s brand affiliation
Hoteliers in order to diversify their business operations must try to identify their target customers i.e. origin of their customers, income class and geography of their customers.
Competitive Analysis:
The hospitality market within Riyadh was observed to be highly competitive in terms of their offerings and the prices they offer. Each 3 star hotel has to compete in order to gain a new customer, so the quality of offerings automatically improves. Construction parameters and services offered become the basis for competition. The existing hotels are offering attractive discounts on room rates to increase the occupancy however at the cost of the ADRs, thus adding significant pressure on margins.
Competition via Hotel Type: Within Riyadh, the mid-market hotel segment is giving a stiff competition to the luxury hotel segment, which has dominated the Riyadh hospitality sector in terms of supply and pricing for a long period of time. The mid-market hotel segment includes mid-range priced hotels with modern amenities at lower costs. It has helped to generate market demand from emerging countries thereby, increasing occupancy rates yet causing a downward pressure on ADR
Key Segments Covered:
By Type of Hotels
One Star
Two Star
Three Star
Four Star
Five Star
Key Target Audience
5 star, 4 star and 3 Star hoteliers
Investors in Hospitality Sector
Hospitality Industry Associations
Government/Regulatory Authorities
Ministry of Tourism
Time Period Captured in the Report:
Historical Period: 2013-2018
Future Forecast: 2019-2023
Case Studies Covered:
Hyatt Palace
Double Tree –By Hilton
Mira Trio Hotel
Carawan Al Fahad Hotel
Al Mashreq Boutique Hotel
Business Inn Tahlia Hotel
Hotel Novotel (Riyadh)
Ibis Riyadh (Olaya Street)
Holiday Inn (Olaya Riyadh)
Key Topics Covered in the Report
Factors Influencing the Hospitality Market in Riyadh, KSA
Demand and Supply Analysis for Riyadh Hospitality Sector
Riyadh Hospitality Market Insight and Performance
Key Expected Hospitality Projects in Riyadh
Key Features and Characteristics of Hotels in Saudi Arabia
Average Daily / Monthly / Annual Rental Rates And RevPAR of Hotels in Riyadh
Average Daily Occupancy Rates of Hotel in Riyadh
Riyadh Hospitality Market Outlook, Opportunities and Future Development Trends
Does the Landscape of Hospitality in Saudi Arabia is Forecasted to be Positive and Encouraging to Invest in this Sector?
What Gaps Exist in Riyadh Hospitality Market?
Recommendations Regarding Success Factors of Developing Hotels
Recommended Branded Operators for Hospitality Sector in Riyadh
Recommendation for Construction of 3 Star Hotels in Riyadh
Competitive Analysis of Case Studies within Riyadh Hospitality Market
Case Studies of Major Hotels in Riyadh
READ MORE

Scope

1. Executive Summary

2. Research Methodology
2.1. Market Definitions
2.2. Research Approach
2.3. Limitations

3. Factors Influencing the Hospitality Market in Riyadh, KSA
3.1. Rise in International Arrivals and Domestic tourists
3.2. Dominance of Business Tourism and Events in Riyadh
Business Tourism in Riyadh
Events and Entertainment in THE Riyadh
3.3. Government Initiatives Towards Tourism
3.4. Presence of Branded Hotel Operators
3.5. Increase in Tourist Expenditure
3.6. Tourism Contribution towards GDP of Saudi Arabia
3.7. Other Factors (Economical Factors, Geopolitical Factors, Technological Factors and Cultural Factors)

4. Demand and Supply Analysis for Riyadh Hospitality Sector
4.1. Demand and Supply dynamics
4.2. Hospitality Demand in Riyadh
Current and future Demand for Hotel rooms in Riyadh
Factors affecting demand
Demand and Occupancy Rates
Pricing Preference in Riyadh’s Hospitality Sector
Major Tourist attractions
4.3. Hospitality Supply in Riyadh
Factors Effecting Supply of Hotel rooms in Riyadh
Major Projects in Riyadh
Regions of Major Hospitality Projects
Major Upcoming Projects in Riyadh
4.4. Oversupply Situation in Riyadh Hospitality Market
4.5. Future Market Potential

5. Riyadh Hospitality Market Insight and Performance


6. Key Expected Hospitality Projects in Riyadh

6.1. Major Upcoming Hospitality Projects in Riyadh
6.2. Major Tourist Attractions

7. Key Features and Characteristics of Hotels in Saudi Arabia

8. Average Daily / Monthly / Annual Rental Rates And RevPAR of Hotels in Riyadh


9. Average Daily Occupancy Rates of Hotel in Riyadh


10. Riyadh Hospitality Market Outlook, Opportunities and Future Development Trends


11. Does the Landscape of Hospitality in Saudi Arabia is Forecasted to be Positive and Encouraging to Invest in this Sector?

11.1. Investment Potential of Saudi Arabia
11.2. Expected ROI’s for Hotels

12. What Gaps Exist in Riyadh Hospitality Market?


13. Recommendations Regarding Success Factors of Developing Hotels


14. Recommended Branded Operators for Hospitality Sector in Riyadh


15. Recommendation for Construction of 3 Star Hotels in Riyadh

15.1. Facilities to be Adopted in a 3 Star Hotel - 10,000 Sqm and 3 Floors
15.2. Design based Recommendations for a 3 Star Hotel – 10,000 Sqm and 3 Floors
15.3. Room Related Recommendations in a 3 Star Hotel – 10,000 Sqm and 3 Floors

16. Competitive Analysis of Case Studies within Riyadh Hospitality Market

16.1. Cross Comparison within Major Hotels in Riyadh

17. Case Studies of Major Hotels in Riyadh

17.1. Hyatt Group (Hyatt Palace)
17.2. Double Tree –By Hilton
17.3. Mira Trio Hotel
17.4. Carawan Al Fahad Hotel
17.5. Al Mashreq Boutique Hotel
17.6. Business Inn Tahlia Hotel
17.7. Hotel Novotel (Riyadh)
17.8. Ibis Riyadh (Olaya Street)
17.9. Holiday Inn (Olaya Riyadh)
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List Of Figure

Figure 3-1: Total Number of Domestic and International Tourists in the KSA in Million, 2017-2018
Figure 3-2: Total Number of Domestic and International Tourists in KSA in Percentage (%), 2017-2018
Figure 4-1: Current and Future Demand for Hotels in Riyadh on the Basis of Keys, 2013-2023E
Figure 4-2: Current and Future Supply for Hotels in Riyadh on the Basis of Total Number of Keys, 2013-2018
Figure 4-3: Upcoming Key Projects in Riyadh Including Total Number of Rooms and Year of Completion
Figure 4-4: Total Demand and Supply in Riyadh Hospitality Market on the Basis of Total Number of Rooms, 2018 and 2023E
Figure 4-5: Supply-Demand Gap in Riyadh Hospitality Market with Oversupply / Excess Demand Situation, 2013, 2018 and 2023
Figure 8-1: ADR and RevPAR for the Riyadh Hospitality Market, as of December 31st 2013-December 31st 2018
Figure 9-1: Current and Estimated Average Daily Occupancy Rates of Hotels in Riyadh in Percentage (%), 2013-2023E
Figure 15-1: Hotel Rooms for Branded Hotels in Riyadh: Clemence Suits
Figure 15-2: Entrance and Lobby for Branded Hotels in Riyadh: Al Sahafa
Figure 15-3: Hotel Rooms for Branded Hotels in Riyadh: Hilton Inn
Figure 15-4: Business Rooms for Branded Hotels in Riyadh: Ibis hotel
Figure 16-1: Cross Comparison of Amenities provided by Major Hotels on the Basis of Total Number of Hotels taken into account in Percentage (%) as of June 2019
Figure 17-1: Hyatt Place Snapshot- Lodging and Business: Hyatt Place Outer View (Top Left), Standard Suite (Top Right), Lounge Space (Bottom left), Conference and Presentation Space (Bottom Right) as of 2019
Figure 17-2: Hyatt Place Snapshot-Entertainment Services: Hyatt Swimming Pool (Top Left), Hyatt Bar (Top Right), Fitness Center (Bottom left), In Hotel Cafe (Bottom Right) as of 2019
Figure 17-3: Double Tree by Hilton Snapshot- Lodging and Business: Double Tree Outer View (Top Left), Standard Suite (Top Right), Presentation Room (Bottom left), Meeting Room (Bottom Right) as of 2019
Figure 17-4: Double Tree by Hilton Snapshot-Entertainment Services: Double Tree Restaurant (Top Left), Cafe (Top Right), Lounge (Bottom left), and salad Bar (Bottom Right) as of 2019
Figure 17-5: Mira Trio Hotel Snapshot- Lodging and Business: Mira Trio View (Top Left), Deluxe Room (Top Right), Standard Room (Bottom left), Meeting Room (Bottom Right) as of 2019
Figure 17-6: Mira Trio Hotels Snapshot-Entertainment Services: Mira Trio Fitness Center (Top Left), Mira Restaurant (Top Right), Swimming Pool (Bottom left), and Outer terrace (Bottom Right) as of 2019
Figure 17-7: Carawan Al Fahad Snapshot: Carawan Al Fahad Outside View (Top Left), Lounge (Top Right), Swimming Pool (Bottom left), Restaurant (Bottom Right) as of 2019
Figure 17-8: Al Mashreq Boutique Hotel Snapshot: Al Mashreq Boutique Outside View (Top Left), Suite (Top Right), Swimming Pool (Bottom left), Restaurant (Bottom Right) as of 2019
Figure 17-9: Business Inn Tahlia Hotel Snapshot: Business Inn Tahlia Hotel Outside View (Top Left), Suite (Top Right), Swimming Pool (Bottom left), Restaurant (Bottom Right) as of 2019
Figure 17-10: Hotel Novotel Snapshot: Hotel Novotel outside view (Top Left), Suite (Top Right), Lounge (Bottom left), Business Presentation Room (Bottom Right) as of 2019
Figure 17-11: Hotel Novotel Snapshot- Entertainment Services: Hotel Novotel Restaurant Food (Top Left), Pool (Top Right), Fitness center (Bottom left), and Hot Tub (Bottom Right) as of 2019
Figure 17-12: Ibis Riyadh Snapshot: Ibis Riyadh outside view (Top Left), Suite (Top Right), Lounge (Bottom left), Business Presentation Room (Bottom Right) as of 2019
Figure 17-13: Ibis Riyadh Snapshot- Entertainment Services: Ibis Riyadh Restaurant Food (Top Left and Top Right), Fitness center (Bottom left), and Restaurant Food (Bottom Right) as of 2019
Figure 17-14: Holiday Inn (Olaya Riyadh) Snapshot: Holiday Inn outside view (Top Left), Suite (Top Right), Business Presentation Room (Bottom left), Restaurant (Bottom Right) as of 2019
Figure 17-15: Holiday Inn (Olaya Riyadh) Snapshot- Entertainment Services: Swimming Pool (Left), Fitness Center (Right) as of 2019


List Of Table

Table 3-1: International Tourist Influx within Saudi Arabia by Month for 2018
Table 3-2: Entertainment Statistics in Riyadh by Type of Tourists (Domestic and International) Including Number of Attendees, Number of Events and Event Days, as of 2018
Table 3-3: Entertainment Statistics in Riyadh by Type of Event Including Number of Attendees, Number of Events and Event Days, as of 2018
Table 3-4: List of Major Venues for Conducting Business Exhibitions in Riyadh City Including Venue Name and Venue Type, as of 2018
Table 3-5: Government Initiatives towards KSA Tourism Including Gov. Initiative Name, Features and Effect on Hospitality Sector
Table 3-6: List of Branded Hotel Chains in Riyadh as of 2019
Table 3-7: Business Tourism Spending, Leisure Tourism Spending, Foreign Spending, Government Individual spending In Saudi Arabia from 2013-2019
Table 3-8: Other Factors (Economical Factors, Geopolitical Factors, Technological Factors and Cultural Factors) affecting the Demand for Travel and Tourism in the KSA
Table 4-1: Number of Hotel Rooms in Riyadh by Hotel Type (Number of Keys), 2018
Table 5-1: Current and Expected Performance within the Riyadh Hospitality Market, 2018 and 2023E
Table 6-1: Key Expected Upcoming Hospitality Projects (Movenpick hotels, Hilton Garden Inn, Westin Riyadh and Hilton Hotels and Element Riyadh) in Riyadh city Including Hotel / Project Name and Project Description
Table 6-2: List of Upcoming Hotel Openings in Riyadh Including Project Name, Project Type; Stage and Estimated Completion Year
Table 7-1: Cross Comparison of Major Hotel Chains in Saudi Arabia Including Hotel Name, Property Description, Locations and Features as of June 3rd 2019
Table 7-2: Cross Comparison of Major Hotel Prices in Riyadh on the Basis of Rental Rates per Night in SAR, 2019
Table 8-1: List of Parameters affecting the Price of Hotels in Riyadh Including Brand, Premium Facilities, Location and Room Size
Table 10-1: IQAMA Renewal Fees on the Basis of Fee in SAR / Month, 2018-2020E
Table 10-2: Summarized List of Generic and Specific Features, Room Number and Areas, Number of Floors and Rentable Area for Popular Brands of 3-Star Hotels in Riyadh
Table 11-1: Factors Influencing the Investment Decision in the Saudi Arabia Hospitality Market and their Degree of Impact (Encouraging, Positive and Negative)
Table 11-2: Cost of Hotel Construction Including Furniture, Fixtures & Equipment (FF+E), Operating Supplies & Equipment (OS+E) by Facilities by 3-Star Hotel, 4 Star Hotel, 5 Star Business Hotel and 5 Star Resort on the Basis of Cost Range (Low, Medium and High) in SAR per Square Meters, 2017
Table 12-1: List of Gaps with Possible Solutions affecting Riyadh Hospitality Sector
Table 13-1: Recommendations related to Success Factors of Developing Hotels within the KSA Hospitality Market
Table 14-1: List of Major Branded Hotel Operators Including Brand Name, Properties / Listings in Saudi Arabia and Major Properties
Table 14-2: Strengths and Weaknesses of Major Hotel Chains (Marriott Hotels & Resorts, Sheraton, Radisson Blu, Inter Continental Hotels & Resorts and Hilton Hotels & Resorts) in the Saudi Arabia
Table 15-1: Other Features offered by 3 Star hotels in Riyadh
Table 15-2: Ideal Floor Suggestions for a 3 Star Hotel in Riyadh Including Floor Type, Room Type and Area
Table 16-1: Cross Comparison of Hotels in Riyadh (Hyatt Place, Double Tree by Hilton, Mira Trio Hotel, Carawan Al Fahad Hotel, Al Mashreq Boutique Hotel)
Table 16-2: Cross Comparison of Hotels in Riyadh (Business Inn Tahlya Hotel, Hotel Novotel (Riyadh), Ibis Riyadh (Olaya Street), Holiday Inn (Olaya Riyadh))
Table 16-3: Service Comparison Matrix of Major Hotels (Hyatt Place, Double Tree by Hilton, Mira Trio Hotel, Carawan Al Fahad Hotel and Al Mashreq Boutique Hotel) in Riyadh
Table 16-4: Service Comparison Matrix of Major Hotels (Business Inn Tahlya Hotel, Hotel Novotel Riyadh, Ibis Riyadh Olaya Street and Holiday Inn Olaya Riyadh) in Riyadh
Table 17-1: Case Review of Hyatt Place-Riyadh including, Hyatt Overview, Hyatt Place overview, Number of Rooms, Number of Floors, Total Area, Room Area, Price/Night (Daily), Price/Night(Monthly), Price/Night(Annually), Services, Amenities and Facilities, Popular Locations Nearby, Customer Ratings and Reviews
Table 17-2: Case Review of Double Tree Hilton-Riyadh including, Hilton Overview, Double Tree overview, Number of Rooms, Number of Floors, Total Area, Room Area, Price/Night (Daily), Price/Night(Monthly), Price/Night(Annually), Services, Amenities and Facilities, Popular Locations Nearby, Customer Ratings and Reviews
Table 17-3: Case Review of Mira Trio Hotel Riyadh including, Mira Trio Hotel overview, Number of Rooms, Number of Floors, Total Area, Room Area, Price/Night (Daily), Price/Night(Monthly), Price/Night(Annually), Services, Amenities and Facilities, Popular Locations Nearby, Customer Ratings and Reviews
Table 17-4: Case Review of Carawan Al Fahad Hotel Riyadh including, Carawan Al Fahad Hotel overview, Number of Rooms, Number of Floors, Total Area, Room Area, Price/Night (Daily), Price/Night(Monthly), Price/Night(Annually), Services, Amenities and Facilities, Popular Locations Nearby, Customer Ratings and Reviews
Table 17-5: Case Review of Al Mashreq Boutique Hotel Riyadh including, Al Mashreq Boutique Hotel overview, Number of Rooms, Number of Floors, Total Area, Room Area, Price/Night (Daily), Price/Night(Monthly), Price/Night(Annually), Services, Amenities and Facilities, Popular Locations Nearby, Customer Ratings and Reviews
Table 17-6: Case Review of Business Inn Tahlia Hotel Riyadh including, Al Mashreq Boutique Hotel overview, Number of Rooms, Number of Floors, Total Area, Room Area, Price/Night (Daily), Price/Night(Monthly), Price/Night(Annually), Services, Amenities and Facilities, Popular Locations Nearby, Customer Ratings and Reviews
Table 17-7: Case Review of Hotel Novotel Riyadh including, Hotel Novotel overview, Number of Rooms, Number of Floors, Total Area, Room Area, Price/Night (Daily), Price/Night(Monthly), Price/Night(Annually), Services, Amenities and Facilities, Popular Locations Nearby, Customer Ratings and Reviews
Table 17-8: Case Review of Ibis Riyadh (Olaya Street) Riyadh including, Ibis Riyadh (Olaya Street) overview, Number of Rooms, Number of Floors, Total Area, Room Area, Price/Night (Daily), Price/Night(Monthly), Price/Night(Annually), Services, Amenities and Facilities, Popular Locations Nearby, Customer Ratings and Reviews
Table 17-9: Case Review of Holiday Inn (Olaya Riyadh) including, Holiday Inn (Olaya Riyadh) overview, Number of Rooms, Number of Floors, Total Area, Room Area, Price/Night (Daily), Price/Night(Monthly), Price/Night(Annually), Services, Amenities and Facilities, Popular Locations Nearby, Customer Ratings and Reviews

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Hyatt Palace,Double Tree –By Hilton,Mira Trio Hotel ,Carawan Al Fahad Hotel,Al Mashreq Boutique Hotel,Business Inn Tahlia Hotel,Hotel Novotel (Riyadh),Ibis Riyadh (Olaya Street),Holiday Inn (Olaya Riyadh)

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