It seems barely a week goes by without the opening of another grand new hotel somewhere in the UAE.
According to one recent report, more than 200 new hospitality and leisure-recreation projects are currently under construction across the country, with more than 80 of them slated to open during 2018.
It should come as little surprise then to learn that the hospitality industry is among the world’s largest and fastest-growing industries. But what many of us forget is that it encompasses much more than just hotels.
Indeed, the sector is also home to restaurants, private clubs, food and beverage eateries, travel service providers, traditional aggregators, global distribution systems, event managers, and a whole raft of other tourism-related businesses.
While it’s possible to group all these under the umbrella of hospitality, there are also many differences between them, with ownership and investment structures varying greatly by geography and segment.