Ras Al Khaimah is expected to welcome 4,445 new rooms over the next three years.
Ras Al Khaimah Tourism Development Authority (RAKTDA) revealed the plan at Arabian Travel Market (ATM) on Wednesday, 26 April.
Haitham Mattar, CEO of RAKTDA, said: “As Ras Al Khaimah draws closer to reaching the one million visitors target by the end of 2018, the need for quality hotel rooms has never been so important. To accommodate this growth in visitors, we are providing potential investors a range of innovative opportunity to develop stand out properties across the emirate.
“It is an exciting time for hoteliers and hotel investors in Ras Al Khaimah, and with renowned international names joining the portfolio of accommodation options, it provides for greater recognition of the emirate’s potential for investors. Working with independent assessors, we have outlined strong return on beach and mountain properties. Looking at beach resorts in particular, existing hotels have shown high profit conversion when compared to similar regional markets.”
He said that with the increased focus on Jebel Jais and active adventurers over the last 12 months, and with further products to be introduced later this year, there is a range of opportunities to develop luxury mountain resorts and wellness retreats in the coming years.
One key area for hotel growth is Al Marjan Island, an archipelago stretching 4.5km out to sea. Already boasting the Rixos Bab Al Bahr, DoubleTree by Hilton Hotel Resort & Spa Marjan Island, and Marjan Island Resort & Spa, managed by AccorHotels, the islands have been earmarked for an additional 16 hotels by 2025.