Active GCC hotel development pipeline now equal to 40% of existing room supply, compared with 11% globally

According to new research commissioned by Arabian Travel Market (ATM), and conducted at the end of September 2022 by hotel market intelligence and global benchmarking company STR, the GCC region now has over 170,000 hotel rooms under active development (planning, final planning & under construction). This is equivalent to 40% of the GCC’s existing hotel room inventory, a figure almost four times greater than the rest of the world which currently lags behind at an average of 11% under active development compared with existing supply. Danielle Curtis, Exhibition Director, Arabian Travel Market, said: “Between EXPO 2020, the 2022 FIFA World Cup, and Saudi Arabia’s ambitious Vision2030 strategy, the GCC’s hospitality sector development pipeline remains robust in contrast to global hotel development, which is slowing, due to weak economic growth forecasts. “While the hospitality sector’s growth does highlight the region’s increasing popularity on the global stage, it is also indicative of regional government strategy, to diversify GDP growth away from hydrocarbons into tourism, that will help to drive demand still further, over the coming years. The STR report estimates 135,560 existing rooms in Saudi Arabia with an active pipeline of 82,639 rooms, with total room inventory projected for 2030, at over 218,000 rooms. Similarly for the UAE, STR currently tracks more than 202,000 existing rooms with an active pipeline of 48,910 rooms, a combined total of almost 251,000 rooms by 2030. “Interestingly, Ras Al Khaimah, is second only to Dubai, with 5.076 rooms in its pipeline, almost the same amount as Sharjah, Abu Dhabi and Fujairah combined,” said Curtis. The UAE’s historic occupancy performance provides a blueprint of what the region can expect as new rooms enter the market. Rooms supply …

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Uttarakhand declares ₹5 lakh incentive to tour operators booking for International Yoga Festival

Uttarakhand Tourism Development Board (UTDB) has announced a financial incentive scheme of up to Rs.5 lakh per tour operator for tour operators booking international tourists for the upcoming International Yoga Festival (IYF) 2023 to be held at Rishikesh from March 1 to March 7, 2023. This incentive will be offered to tour operators for bringing international tourists to the International Yoga Festival 2023.  For this, UTDB has decided to provide incentive to these tour operators from Rs.10,000 per international tourist up to a maximum of Rs.5 lakh.

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Airlines expected to register small $4.7 bn profit in 2023 after $6.9 bn loss in 2022

International Air Transport Association (IATA) has revealed that in 2023, airlines are expected to post a small net profit of $4.7 billion—a 0.6% net profit margin. It is the first profit since 2019 when industry net profits were $26.4 billion (3.1% net profit margin). In 2022, airline net losses are expected to be $6.9 billion.

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Ebix is consolidating its business in India currently: Naveen Kundu

Naveen Kundu, MD, EbixCash Travel & Holidays, has said that while they keep doing something new, they are currently consolidating themselves in India because when we acquired companies in 2018-2019, we were hit by pandemic, which was bad. “We had made huge investments in India and it’s time to relaying our foundation and now everything is growing organically, and we are very focused in what we are doing,” he said.

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With VisitBritain England Expert e-learn platform, learn to sell cities & destinations in England

Vishal Bhatia, Country Manager, VisitBritain- India has shared that they have launched The VisitBritain England Expert e-learn platform, in partnership with TravTalk. “The objective is to educate, familiarise and equip our industry partners with destinations across England, priority focus being on the West Midlands region & London,” he said

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Le Murraya Hospitality signs India Sales Associates as their India Representatives

Le Murraya Hospitality Group (LMH) from Koh Samui, Thailand enters India Outbound Travel market by partnering with INDIA SALES ASSOCIATES (ISA Tourism Pvt Ltd) as their India Representatives. Le Murraya Hospitality Group (LMH) operates boutique hotels and resorts, namely- Le Murraya Hotel, Synergy Resort and La Vida Resort and restaurant ownerships as well as other hospitality services. Based in the beautiful island of Koh Samui – these properties offer not only the diverse stay facilities ranging from budget to luxury categories but also a variety of dining experiences, serving the best of Thai favourites, Mediterranean, Western cuisine and with a breath-taking views from the amazing beaches. Speaking on this new partnership, Mr Manas Sinha, Director, INDIA SALES ASSOCIATES said, “Koh Samui is steadily growing as a must visit part of Thailand. It has become a hot favourite amongst Indian guests looking at the wholesome experiences. By presenting these three properties, we are happy to bring a range of options for our valued travel partners. The resorts on their front are very keen to customize servicing, food and other facilities to impart excellent holiday memories to Indian couples and families”. Le Murraya Boutique Hotel, Samui Located in the heart of Chaweng beach and just 15 minutes drive from Samui international airport, Le Murraya Hotel is Thailand’s hippest new hotel with spacious and serviced residence like rooms each with modern amenities and stylish furnishings, is the perfect choice for long and short stay accommodation on this vibrant island get-a-way. The hotel is home to an elegant pool-side restaurant serving the finest in Asian and international cuisine. A fully quipped fitness room is open to guests who like to stay healthy and fell …

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