As part of Qatar’s ongoing initiatives and commitments, the hospitality and tourism sector is constantly witnessing significant developments that are attracting the attention of individuals across the globe. Analysts have stated that these improvements and developments will further drive the growth of the local market and enhance its position on the global hospitality scene.
Anthony Fernando, Valuations Director at ValuStrat Qatar, said: “In Q4 2023, Qatar’s hotel and tourism sector showed an exemplary performance supported by the city’s strategic initiatives and world-class hospitality standards.” The main influencing factor that has boosted the sector is the increase in the number of tourists and visitors from all over the world due to the cultural and global events taking place in Qatar. He said: “With an influx of international tourists to around 4 million visitors, attracted by cultural festivals, sporting events and business conferences,
Doha’s hotels have enjoyed a steady growth in occupancy rates.” Fernando also highlighted that “luxury and boutique hotels, in particular, have registered unprecedented demand, highlighting Doha’s growing appeal as a prime luxury destination.” He added that the last quarter of the year also witnessed significant progress in sustainable tourism activities, which come within the framework of the vision of Qatar’s National Strategy for Environmental Stewardship and Social Responsibility. “Qatar’s ongoing investment in infrastructure, including the expansion of Hamad International Airport and the enhancement of public transportation, has facilitated tourist mobility and easy access to diverse tourist attractions and destinations that offer a product that is fully consistent with the quality of the global tourism product,” said Fernando. “The total hospitality inventory is estimated at 39,233 rooms, 66 percent of which are classified as 4-5 star hotels.
The number of rooms in the market is expected to witness steady growth in 2024, with prominent projects such as the Oasis Hotel and the Doha Life project estimated to add 500+ keys,” said Fernando. “As we look to 2024, Doha’s hotel and tourism sector is poised for continued growth, driven by innovative strategies that prioritize sustainability and world-class hospitality, setting a new standard for the global tourism industry,” he added.
For a detailed perspective on the property market, visit: Qatar - Real Estate Review Q1 2024
