Colliers expects over 3,600 branded keys to open in Sharjah by 2023
A string of hotel operators are expected to enter the Sharjah market over the next four years
Colliers International has predicted a “bright mid-term future” for Sharjah as over 3,600 hotel keys are expected to enter the market by 2023.
Speaking exclusively to Hotelier Middle East, Colliers International’s head of hotels for the MENA region Christopher Lund said the Sharjah hotel market is expected to keep up the “evolving market dynamics” with a series of key openings and aging properties to undergo renovations.
Among the new operators entering the market include The Address Hotels & Resorts with 1087 keys, Jannah Hotels & Resorts, Minor Hotel Group with 233 keys, along with Shaza Hotels which was recently appointed to manage three desert retreats.
GHM Hotels also recently opened Al Bait Sharjah and the Chedi Khorfakkan, Al Jabal Resort will also be opening a 100 key property imminently.
“With the entry of new hotels, new brands and new unique concepts, as well as the development of new demand generators, the Sharjah hotel market has a bright mid-term future,” said Lund.
According to Lund, the majority of Sharjah’s hospitality products are either locally branded or unbranded for the leisure market and expects to further strengthen its position as a tourism destination in the coming years.