STR Global: Luxury-hotel growth in Middle East tops global industry

04/22/2012 | ArabianBusiness.com (United Arab Emirates)

Middle East hotels surpassed the rest of the world in the luxury segment with a 3.9% yearly growth since 2000, STR Global reports. "The Asia/Pacific and Middle East/Africa regions led the inventory growth, particularly with the luxury and upper-upscale segments, which increased 3.2% and 3.9%" compound annual growth, respectively, said Elizabeth Randall, managing director at STR Global. Globally, hotel inventory showed a 1.6% CAGR from 2000 to 2012, STR Global said.

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