23 Hrs
Source:
الوئام
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Saudi Hospitality Market Growth
The hospitality market in Saudi Arabia is expected to see an increase in the number of licensed establishments and rooms in 2026, with a growth of 17.9% to approximately 6,278 facilities, including hotels and serviced apartments. Meanwhile, the occupancy rate has declined to 51%, down from 53.2% last year, and the average room rate has decreased by 12.4% to around 563 riyals. This reflects a balancing phase between supply and demand, as the sector rapidly expands in terms of available capacity, prompting competition to lower prices and improve offerings and services. However, the growth in occupancy is not keeping pace with the expansion in the number of rooms, creating greater challenges for operators. It also indicates that competition will increasingly focus on service quality and customer experience, as Saudi Arabia aims to achieve 150 million tourist visits annually by 2030.
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