Mashroo3k Consulting prepares a feasibility study for a three-star hotel, based on a comprehensive market analysis that confirms a strong demand for the services offered by the residential-commercial hotel project. These services include: private rooms, meeting rooms, dining rooms, standard double rooms, residential apartments, suites, royal suites, a women’s beauty salon and its accessories, a men’s barber shop, a business center, a retail shop, and a cafeteria. These offerings are widely in demand across the tourism, leisure, service, and commercial sectors.
he feasibility study for a three-star hotel, presented by Mashroo3k Economic Consulting and Feasibility Studies Company, indicates that the project idea is to establish a three-star hotel, but with the operational efficiency of a four-star hotel. The hotel consists of: (single standard rooms – single superior rooms – double standard rooms – double superior rooms – meeting room – event hall – suites – royal suites – car rental office – women’s salon – men’s salon – cafe – gift shop). Therefore, the project seeks to benefit from the natural and touristic components and the development of the tourism market size. It also seeks to benefit from these components by creating harmonious urban areas with touristic attraction through establishing the hotel and taking advantage of the tourism and population growth rates. Therefore, establishing a hotel is considered one of the investment opportunities that achieve high economic returns.
Attention to the quality of services provided
Excellent location and easy access to the hotel
A comprehensive and strong marketing plan
A highly competent and professional team
Diverse and wide-ranging services within the project
Availability of salons for both men and women
High-standard preparation of event and meeting halls
Utilization of a top-tier customer service team
Easy booking process through a user-friendly application
Use of modern and advanced communication methods
Availability of high-end technology for service delivery
Executive summary
Study project services/products
Market Size Analysis
Risk Assessment
Technical study
Financial study
Organizational and administrative study
The Tourism Sector in GCC Countries
The tourism sector is considered one of the most significant contributors to the global GDP. Its direct contribution accounts for 3.3% of the total global GDP, while its total contribution amounts to 10.4%, representing USD 9.2 trillion. Jobs in this sector constitute 10.6% of all global employment (334 million jobs), and global spending on leisure travel is estimated at approximately USD 2.37 trillion. It is worth noting that the tourism sector continues to grow steadily, generating one in every four new jobs worldwide. This provides a brief overview of global tourism indicators.
As for the indicators of the tourism sector in the GCC countries, they are as follows:
The total number of inbound tourists to GCC countries reached 43.8 million, with an annual decline rate of 0.3% over a five-year period.
If we break down inbound tourist numbers by percentage, the UAE alone accounts for approximately 49.2%, followed by Saudi Arabia with 31.1%. The following chart would illustrate the distribution across the rest of the GCC countries.
Tourist spending in the GCC countries recorded consecutive growth of 12.1%, reaching USD 81.1 billion.
The UAE alone accounts for 47.3% of the total inbound tourist spending in the region.
The total number of nights spent by tourists in GCC countries reached 303.2 million nights, with Saudi Arabia accounting for 57.4% of these.
The total number of intra-GCC tourists reached around 12.6 million people.
Intra-GCC tourism accounted for 28.7% of the total number of inbound tourists to the region. Notably, Bahrain recorded the highest share of intra-GCC tourists, with an estimated 95.6%.
According to a report by the GCC Statistical Center, the total number of hotel establishments in GCC countries reached 11,119.
These establishments offer around 620,517 rooms, with projections indicating expected growth of 2.3%.
The entertainment and hospitality construction market in GCC countries is projected to reach USD 642.3 billion by 2023.
According to the UN World Tourism Organization, GCC countries are expected to receive 195 million visitors by 2030.
There is no doubt that the COVID-19 pandemic had a significant impact on global travel and tourism indicators, with the sector’s contribution to the global GDP dropping to just 6.1%, down from 10.3% in the year prior to the pandemic. However, the sector has recently begun to recover, as confirmed by global indicators. Therefore, Mashroo3k Consulting recommends investing in this vital sector for the following reasons:
According to the World Tourism Organization (UNWTO), the number of international tourists grew from 25.2 million in 1950 to 1.40 billion after 68 years.
By the end of 2021, a total of 2,246 hotels had opened worldwide. This number was expected to reach 2,805 hotels by the end of 2022, and 2,934 hotels by the end of 2023.
In 2021, 340.7 thousand hotel rooms were opened globally, with expectations of reaching 428 thousand rooms by the end of 2022. By 2023, the number of rooms was projected to reach 447.6 thousand.
By the end of 2021, the global travel and tourism sector saw a 21.7% increase in its contribution to the global GDP compared to the previous year when the pandemic had severely affected the industry. The sector contributed approximately USD 5.81 trillion to global GDP. Additionally, the global tourism market was valued at around USD 1.311 trillion, and it is expected to grow to USD 2.291 trillion by 2030 (excluding the pandemic-related impact).
