Dubai: Dubai powered the UAE to the top of a list ranking the 11 global markets with the largest number of hotel projects in the latest report released by Tophotelprojects.com, a database for hotel projects.
With a massive 97 upscale hotel projects under way, the study — which analysed facts and data of over 4,300 projects worldwide — reveals that Dubai is taking the lead in the construction of hotel projects in the UAE.
The emirate is closely followed by Abu Dhabi with 66 projects and Ras Al Khaimah with 14, bringing the total to 177 under construction in the UAE.
Other global markets with a high number of hotel projects under way include Berlin with 49, New York City with 43, Moscow with 32 and Marrakesh with 24.
The numbers fuel fears recently voiced by some industry experts about an oversupply (of rooms) in the UAE hotel market. Global consultancy CBRE recently pointed out that Dubai hotels’ exposure to the tourism sector and an oversupply of luxury accommodation will “likely delay a recovery in room rates”.
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