As part of the ongoing initiatives and commitments implemented by Qatar Tourism, the hospitality and tourism sector is constantly witnessing significant development in attracting the attention of individuals across the globe. These remarkable improvements and developments will further drive the growth of the market. Anthony Fernando, Director of Valuations at ValuStrat Qatar, said: “In the fourth quarter of 2023, the hotel and tourism sector in Qatar has shown an exemplary performance supported by 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 international events held in Doha.
“As we look ahead to 2024, Doha’s hotel and tourism sector is poised for continued growth, driven by innovative strategies that prioritise sustainability and world-class hospitality, setting a new benchmark for the global tourism industry,” Fernando added.
“With an influx of international tourists to around 4 million visitors, attracted by cultural festivals, sporting events and business conferences, Doha hotels have enjoyed steady growth in occupancy rates, averaging around 58 percent,” he said.
Fernando also highlighted that “luxury and boutique hotels, in particular, have recorded unprecedented demand, highlighting Doha’s growing appeal as a key luxury destination.”
He added that the last quarter of the year also witnessed significant progress in sustainable tourism practices, which comes within the framework of Qatar's long-term national strategic vision for environmental stewardship and social responsibility.
“Continued investment in infrastructure, including the expansion of Hamad International Airport and the enhancement of public transport, has facilitated tourist mobility and accessibility,” said Fernando.
On the other hand, hotel rooms continued to see a positive upward trend with high occupancy demand.
He pointed out that “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, which is estimated to add 500+ keys.
For a detailed perspective on the property market, visit: Qatar - Real Estate Review Q2 2024
