Middle East & North Africa hotel owners upbeat despite challenging market conditions
“I take comfort in the fact that in our industry, the basic requirements of having a good night's sleep and a great shower is here to stay. It cannot be disrupted. It cannot be digitized,” said Khalifa Bin Braik, managing director of hotels at UAE’s Majid Al Futtaim.
Like Braik, other hotel owners acknowledged the adverse economic impact of COVID-19 during the Arabian Hotel Investment Conference 2020 (AHIC), held online from September 29 to October 1. But instead of being preoccupied about lost earnings they are focusing on their long-term visions and express confidence in the sector.
The report “MENA Hotel Market Sentiment”, published in April by commercial real estate services firm Colliers International, echoes the owners’ positive attitude.
Free, in under 30 seconds
Join thousands of professionals reading Salaam Gateway — the Global Islamic Economy Gateway.
Already a member? Sign in
- 5 free articles every month
- Weekly Islamic-economy newsletter
- Save articles to read later
