As the world’s leading minds in hospitality investment prepare to gather at Madinat Jumeirah in Dubai next week for Future Hospitality Summit – FHS World 2025, investors have shared their insights on the trends and strategies that are shaping the future of hospitality investment.
FHS World, widely recognised as the Middle East’s premier hospitality investment forum, will see 300+ investors in attendance with more than USD$ 5 trillion asset under management, 40 percent of them coming from non-GCC countries.
Together, these decision-makers span a wide spectrum of capital sources, from investment companies and family offices to sovereign funds, REITs, and private equity firms. Their presence at FHS World underscores a renewed appetite for investment, not just in established hubs like Dubai and Riyadh, but across Europe, the GCC, Asia, and North Africa, where destinations such as Egypt, Morocco, and Tunisia are gaining momentum. Delegates will have access to unrivalled networking and deal-making opportunities, enabling direct engagement with investors all actively searching for the next wave of hospitality ventures.
Ahead of the event, top-tier investors have shared their views on the future of hospitality investment. With input from Fahad Al Alloush, CEO, Al Raya Real Estate; Mayra Andrea Mueller, President, Cipta Graha Group, Nabil Nazer, Chief Executive Officer, Mohamed Saeed Almulla & Sons / MSA Capital Limited, and Anthony Costa, Head of Hospitality & Lifestyle, Candy Capital.
Hospitality Capital in Transition: from Caution to Confidence
Across regions, the message is clear: capital is returning to hospitality, but with a sharper eye on selectivity, sustainability, and operational performance.
Mayra Andrea Mueller, President, Cipta Graha Group, observes:“We are indeed seeing a shift from caution toward renewed confidence in hospitality investment. The resilience of travel demand, coupled with the industry’s adaptation to evolving consumer expectations—such as wellness, sustainability, and experiential offerings—is driving this momentum. Capital that was previously on the sidelines is re-entering the sector, albeit with a more selective and value-driven approach.”
Anthony Costa, Head of Hospitality & Lifestyle, Candy Capital, agrees: “We are indeed witnessing a notable shift in hospitality investment attitudes, from a period of cautious observation to a renewed sense of confidence. The past few years have tested the resilience of the sector, but what’s emerging now is a more agile, data-driven, and experience-focused investment mindset. Investors are increasingly drawn to assets that demonstrate adaptability, whether through tech integration, sustainable operations, or diversified revenue streams. Capital is flowing more freely into lifestyle brands, extended-stay models, and mixed-use developments that blend hospitality with residential and retail components. Looking ahead, we can expect a more nuanced approach to risk, with investors favoring flexibility and long-term value creation over short-term gains.”
This evolution signals more than just a return of liquidity and points to a new mindset. Investors today are recalibrating their expectations, seeking measurable impact, operational efficiency, and brand authenticity rather than short-term gains or speculative development. In the Middle East, that shift is especially evident.
“Investor sentiment in our region is definitely shifting from caution to confidence,” says Fahad Al Alloush, CEO of Al Raya Real Estate. “We’re seeing renewed appetite for hospitality projects, especially in Saudi Arabia and the wider GCC. The fundamentals are strong—population growth, tourism spending, and major government-led initiatives are all supporting the sector. That said, investors are now more selective. They want clear visibility on returns, strong locations, and efficient operating models rather than just landmark developments.”
This new wave of capital discipline marks the maturing of a region that has emerged as one of the world’s most dynamic hospitality growth engines.
Growth with Intent: Selectivity, Sustainability, and Authenticity
As the sector expands, investors are targeting areas that combine financial resilience with long-term experiential value.
Mueller highlights that “the most exciting areas of growth are luxury resorts that combine lifestyle, sustainability, and cultural authenticity,” citing Dubai and Bali as prime examples of destinations where “modern vibrancy meets sustainable, experience-led environments.” She adds that branded residences, lifestyle hotels, and integrated hospitality concepts will remain core investment pillars, driven by digital guest engagement, technology-driven efficiencies, and sustainable operations.
Al Alloush sees the most exciting opportunities in serviced apartments and branded residences, especially in Saudi Arabia’s coastal destinations such as the Red Sea and Jeddah, alongside lifestyle midscale hotels that cater to domestic and regional travellers. Yet, he cautions that “construction costs, delivery timelines, and the shortage of experienced operators who can balance international standards with local realities” continue to challenge investors.” Access to financing has also become tougher, so structuring deals with the right partners is key,” he added.
Costa sees the most exciting areas of growth from an investor’s perspective in three areas: Travel – properties that offer immersive, culturally rich experiences are commanding premium interest; Tech-enabled operations – Automation, AI, and smart infrastructure are not just operational tools—they’re becoming investment differentiators, and Sustainable and ESG-aligned assets – green-certified hotels and those with strong community engagement are increasingly attractive to institutional investors.
Nabil Nazer, Chief Executive Officer, Mohamed Saeed Almulla & Sons / MSA Capital Limited, also identifies a trifecta of opportunity: strong structural policy-driven demand, experiential gastronomy and entertainment, and branded residences and extended stay, balanced by cost, talent, and brand-delivery challenges.
“Dubai overnight visitors continue to set new records, and the expansion of Al Maktoum International means that growth is effectively hard-wired for the next decade. Add to that the migration of global elite to Dubai and a growing resident population, and you essentially have solid demand drivers across all lifestyle offerings, which are sufficient to support and absorb the growing room supply,” says Nazer. At the same time, he notes that construction and fit-out prices have gone up considerably and that “investors should be cautious in their feasibility studies and adopt conservative ADR and occupancy assumptions.”
On the human capital front, Nazer stresses that the fight for talent is intensifying and that finding the right talent is essential to success. “Management and employee retention is crucial to ensuring success that is long-lived, and that means treating your employees as an asset, not an expense.”
He also points to branded residence and extended-stay models as key growth engines that “broaden fee income, deepen loyalty ecosystems, and enhance cashflows compared with pure residential or hotel developments.”
Looking Ahead: Resilience, ESG, and the Road to 2026
As the global investment community convenes at FHS World, the tone is pragmatic yet positive. For investors like Mueller, the next growth phase will be defined by capital flows toward resilient destinations, sustainability and ESG alignment, and technology integration that personalises guest experiences and drives operational efficiencies.
“Within sustainability,” she notes, “key certification standards are becoming increasingly important to validate practices and reassure both investors and customers. Key factors include resource conservation, sustainable sourcing, waste reduction, community engagement, and renewable energy adoption.”
Al Alloush forecasts a focused but steady growth curve: “Hospitality investment in 2026 and beyond will remain strong but focused. Saudi Arabia’s tourism targets will keep attracting capital, but the market will reward developers who build efficiently and operate smartly.”
Collectively, these perspectives illustrate how hospitality investment is evolving from expansion to precision, anchored by fundamentals of authenticity, sustainability, and efficiency with hospitality no longer just about physical assets, but also cultural relevance, sustainability, and human experience.
As Costa summarised: “the hospitality sector is entering a new era—one that rewards innovation, resilience, and purpose-driven growth. It’s an exciting time to be part of this transformation.”
At a time when hospitality is redefining its value proposition, FHS World serves as the nexus for the industry’s most influential voices. The three-day conference agenda has a dedicated Investment and Real Estate content track with sessions covering a wide range of topics from “The Middle East Playbook: How to enter and succeed in hospitality investment, ‘Building Destinations Together: The impact of Public-Private Partnerships,’ and ‘Beyond The Peak: What the Numbers Say About the Next Chapter in Hospitality, to ‘Mapping the Money: Tracking Smart Capiotal in a Changing Hospitality Landscape, ‘The New Silk Road of Hospitality: Cross-Border Strategies in Global Investment,’ and ‘Investors with Influence: How Private Capital Shapes Hospitality Footprints,’ alongside many others.
