The Islamic hospitality market or Sharia-compliant hotels is set to be one of the fastest growing hospitality segments.
Dubai-based hospitality group Almulla Hospitality recently launched its Sharia-compliant hotel portfolio, comprising three brand tiers. The group has also cited plans to target development in Saudi Arabia, UAE, Jordan, Egypt and Malaysia in the first instance, with Thailand and Europe following closely behind.
Almulla Hospitality's chairman, Abdulla Almulla, said that the demand for Sharia-compliant accommodation is on the increase and represents 10 per cent of the world tourism market.
''In less than a decade Middle East leaders have transformed the landscape and created one of the world's fastest growing regions, with hospitality investment at its core,'' he said.
"UAE travellers alone spend more than $4.9 million on travel annually and the Islamic hotel product will be in high-demand, certainly reaching 10 per cent in the short-term.''
Meanwhile, Rezidor Hotel Group has estimated that the Sharia-compliant hospitality market will grow by a staggering 20 per cent per year over the next decade.
Rotana agrees that there is a high-demand and Selim El Zyr, the group's president and CEO, said that this is driven by the desire for individual choice.
"In this ever-changing world, individuality of choice is important to the traveller and some guests seek to reflect the values they hold in the accommodation they choose," he explained.