Doha, Qatar: Qatar’s hospitality industry witnessed a boom in the second quarter of the year with the opening of numerous hotel keys and the arrival of tourists. According to a study by ValuStrat, the occupancy rates in hotels across the country surged 29 percent compared to the same period in 2023 and remained steady at 69 percent.
From April to June this year, the Average Daily Rate (ADR) amounted to QR454, an increase of 7 percent Y-o-Y. In the meantime, the Revenue Per Available Room (RevPAR) reached QR312, up of 38 percent per annum.
However, the ADR for 5-star hotels stood at QR630, while the ADR for 3 and 4-star hotels amounted to QR215 and QR263, respectively.
Outlining the reasons for the market boost, Anum Hassan, Head of Research, Qatar at ValuStrat stated that Tourist arrivals increased by 26 percent year-on-year, contributing to a 38 percent annual rise in RevPAR. In addition to the leisure growth, the government also launched the Simaisma Project, a key new cultural landmark.
The launch of the project was introduced by the Ministry of Municipality & Environment, showcasing a mega entertainment district spanning 8 million sq m. The QR20bn project led by Qatari Diar also features luxury resorts, an amusement park, residential villas, a yacht club, a marina, a golf course, restaurants, shops, and many more.
As per Qatar Tourism’s data, the total hospitality stock is estimated at 39,915 keys, which includes 74 percent of hotel rooms, and 26 percent of hotels and services apartments in the country. Among them, 66 percent of the total stock comprised 4 to 5-star hotels, while 8 percent was classified within the 3-4 star segments. Other projects including the Mercure Grand Hotel Doha with 175 rooms were re-branded to Treffen House Doha in Msheireb (Zone 4).
However, the recent data reveals that total international arrivals surpassed 2.9 million obtaining a vital increase of 26 percent Y-o-Y. Among the total number of foreign arrivals, 43 percent were from the GCC countries, while 19 percent and 23 percent of individuals flew from other Asian and European countries respectively.
For a detailed perspective on the property market, visit: Qatar - Real Estate Review Q2 2024
