Tourism Gulf’s first casino likely to spur hotel demand in RAK By Gavin Gibbon February 14, 2025, 7:44 AM Ras Al Khaimah Tourism Development Authority Tourists admire the view in the mountains of Ras Al Khaimah. Visitor numbers look set to rise steeply RAK needs to triple rooms Shortfall of 6,000 Resort expected to attract 3.5m The Gulf’s first casino, being developed by Las Vegas-based Wynn Resorts in the UAE’s Ras Al Khaimah (RAK), is likely to spur investment in the emirate’s hotel sector through to 2030 to plug an expected shortfall in supply, say developers. Home to the UAE’s sixth biggest town by population, RAK needs to add about 24 hotels to meet expected customer demand over the next five years, especially after the $4 billion Wynn Al Marjan Island resort opens in 2027. Home to about 400,000 people, RAK is already almost doubling the number of hotel keys from 7,886 now to more than 15,000 in 2027. But that is still almost 6,000 rooms short of what is needed, according to Christopher Hewett, senior vice president and head of hospitality at RAK-based Al Hamra real estate developers. That is equivalent to approximately 24 hotels. “We do have a significant gap in the market,” he said. “There is going to be a significant increase in visitation levels, but the pace of supply is not necessarily going to match the pace of demand.” RAK’s Wynn Al Marjan Island resort, which will include a so-called "gaming area", or casino, may encourage another 3.5 million people to visit the UAE each year, Hewett said. About 5.5 million people are expected to visit RAK in 2030, almost four times more than last year, when it already hit a record, Hewett said. For comparison and linked to the opening of casinos and other resorts, Singapore visitor numbers grew more than 20 percent from 2009 to 2010, and then another 10 percent per year for the next three years after the opening of the Marina Bay Sands and Resorts World Sentosa in 2010, Universal Studios Singapore in 2011 and Gardens by the Bay 2012. Global consultants EY forecast RAK hospitality demand will climb to roughly 9.6 million room nights in 2030, almost triple the number for 2022, based on an average length of stay of 3.5 days for overnight hotel guests. Wynn Resorts secures loan for RAK casino Wynn Resorts says UAE site will earn $1bn in gaming revenue RAK Properties sets vision for Ras Al Khaimah development At the same time, the emirate’s population is forecast to increase to about 650,000 people by the end of the decade, according to consultant Stirling Hospitality Advisors. A more immediate solution to any supply gaps might be an increase in short-term lets, Andrew Cummings, head of residential agency at Savills Middle East, believes. He said he is seeing “strong potential” for this type of accommodation in prime locations in RAK, such as Al Marjan Island and Mina Al Arab. “Developers have reacted to this shortfall by launching a range of residential supply to react to this demand,” he said. RAK property prices grew 20 percent to 25 percent over the first eight months of 2024 and are expected to increase by 8 percent in 2025.
