Key themes from the MENA hospitality sector roundtable
Despite the slowdown in the economy due to the oil price decline and volatile regional conditions, the Middle East and North Africa (MENA) region continues to grow. The regional hospitality industry remains an attractive investment potential for investors.
The changes in consumer preferences and the increasing use of technology are radically changing the industry. The market is also expecting to see an increased shift in investment activities and strategies over the coming years.
This report provides readers with a detailed view on the changing landscape in the hospitality industry based on primary and secondary research with industry stakeholders. It probes into investments, market trends, challenges, disruptions and the outlook of the hospitality sector.
Our key findings include the following.
- Evolving consumer preferences and technology are the major trends prevailing in the hospitality industry.
- Deployment of experienced hosts is the most leveraged strategy for driving personal engagement at properties.
- Evolution into alternate markets is emerging as the most preferred investment strategy to maximize investments.
- Budget and mid-scale segments have emerged as one of the most preferred investment categories.
- Online travel agents were found to be the most critical disruptor to the hospitality business.
- The sharing economy is not considered a major threat to the hospitality business in the region.
Marketing trends and investment - Though the hospitality industry witnessed a challenging year in 2016 — in both development and operations — the market remains healthy with strong investment potential.
What are the prevailing trends in the MENA region?*
Industry focus - The hospitality industry has constantly evolved with the changing consumer preferences and competitive landscape.
Which hospitality products have the strongest outlook for investment in 2017 in the MENA region?*
Industry disruptors - As new technologies emerge, the regional hospitality industry continues to evolve in order to improve customer experience, build competitive edge and grow business.
Which disruptors are most critical to the hospitality business?*