Recent data from global research organizations presents an optimistic forecast for the GCC hospitality industry, highlighting the sector’s expected growth driven by an ongoing emphasis on tourism by regional governments. The Arabian Travel Market (ATM) 2024, set to occur from May 6 to 9 at the Dubai World Trade Centre, will play a crucial role in advancing the discussions and collaborations within the industry.
Deloitte’s analysis puts Dubai at the forefront of the regional hospitality market, projecting a buoyant outlook for 2024. Notably, Dubai boasts a hotel room count that surpasses those of major global cities like London, New York City, and Bangkok, with a current capacity exceeding 150,000 hotel rooms. Dubai’s attractiveness as a tourist destination is evident in its ability to draw 17.15 million overnight visitors in 2023. This vibrancy is further underscored by the city achieving an impressive 88% occupancy rate in February, as reported by the Dubai Department of Economy and Tourism (DET).
Riyadh is marking significant strides in hotel supply growth, according to STR. The Saudi capital has witnessed a 134% increase, equating to an additional 28,465 rooms. Doha, meanwhile, has experienced a notable advancement in its hospitality offerings, doubling its hotel inventory over the past decade to 39,968 rooms.
The forthcoming ATM 2024 will showcase a broad spectrum of international hospitality brands, reflecting the industry’s dynamic evolution and the substantial interest it garners. Danielle Curtis, Exhibition Director ME of ATM, revealed a 21% increase in exhibition space allocated to hotel brands. This year’s official hotel partner, IHG Resorts, along with prestigious names like Four Seasons Hotels, Rosewood Hotels and Resorts, and Shangri-La Group, underscores the event’s significance. An 12% uptick in the presence of hospitality brands highlights a rich assembly of esteemed participants, promising a comprehensive experience across luxury, upper-midscale, and midscale categories.
First-time exhibitors such as Ethno Belek from Turkey and Buff Medical Resort from Germany will join ATM alongside European Voyages, expanding the geographical representation and diversity of offerings. The event will also witness enhanced participation from Italy and Turkey, indicating the growing appeal of the Middle Eastern tourism market to these regions.
ATM 2024 anticipates hosting enlightening discussions and expert-led sessions throughout the week, focusing on the latest trends and investment frameworks in the hospitality industry. Noteworthy sessions include those led by distinguished figures like Guy Hutchinson of Hilton, Basmah Al-Mayman of the UNWTO, and Jan Gerrit Koechling of Roland Berger, offering deep dives into market adaptation, growth strategies, and emerging business opportunities.
In line with its tradition of fostering innovation, ATM 2024 emphasizes “Empowering Innovation: Transforming Travel Through Entrepreneurship” as its theme. The event seeks to highlight how the travel and tourism sector’s innovators are attracting investments and paradigms that might elevate the industry’s impact on the global economy. With comprehensive exhibitions spanning aviation, accommodation, attractions, and technology, ATM 2024 aims to be a catalyst for growth and development in the Middle Eastern hospitality and tourism landscape.
Supported by strategic partnerships with entities like the Dubai Department of Economy and Tourism (DET), Emirates, IHG Hotels & Resorts, and Al Rais Travel, ATM 2024 is shaping up to be a pivotal platform for networking, knowledge sharing, and industry advancement, continuing its legacy as a landmark travel trade event in the region.
