Elaf Group optimistic about growth in KSA’s hospitality industry for 2016

 January 30 2016,  13.13 PM IST || Pocket News Alert

Industry report reveals Makkah and Madinah hotels post surge in RevPAR for 2015

30 January, 2016 - The Elaf Group, a SEDCO Holding Group company and a leading provider of travel, tourism and hospitality services, has expressed key confidence in achieving strong growth for 2016 across the Kingdom of Saudi Arabia’s (KSA) thriving hospitality industry. The upbeat attitude of the company follows after a recent industry report showing that hotels in Makkah and Madinah witnessed strong growth in Revenue Per Available Room (RevPAR) in 2015. The full-year report states that Makkah experienced a seven per cent year-on year (Y-o-Y) increase in RevPAR while hotels in Madinah surged by eight per cent.

As the global hospitality industry registers an upward growth, a greater sense of optimism is visible across most regions. An accelerating capital market, favourable supply and demand balances, and strong investor appetites have fuelled higher transaction volumes and strengthened room occupancy. Globally, the travel and tourism industry encompasses 266 million jobs, contributing 9.5 per cent of the world’s gross domestic product (GDP).

Ziyad Bin Mahfouz, CEO of Elaf Group, said: “In 2015, the highest RevPARs in the GCC were recorded in Makkah and Madinah at 7 and 8 per cent, respectively, and the trend will continue in 2016. Last year was truly a remarkable period for hospitality in the KSA, especially in Makkah and Madinah due to the growth in tourism for religious purposes. Elaf Group remains steadfast in its commitment to continue to offer excellent travel and hospitality services to religious pilgrims. We are committed to deliver world-class services to facilitate further expansion of the KSA’s hospitality industry.”

Established in 1981, Elaf Group has positioned itself as a leading pillar of the Middle East’s travel and tourism industry. Specializing in religious tourism and operating in accordance with the Islamic Shari’ah guidelines, it has three major divisions – Elaf Hotels, Travels and Tours, and Hajj and Umrah. Elaf Hotels’ portfolio includes 14 world-class hotels in Jeddah, Makkah and Madinah offering 3,572 rooms.

Elaf Group optimistic about growth in KSA’s hospitality industry for 2016