The total hospitality stock estimated by Qatar Tourism was 39,915 keys as of second quarter this year, researcher ValuStrat said in a report.
Hotel rooms accounted for 74% of the hospitality stock and 26% are hotel/services apartments, it said.
According to ValuStrat, 66% of the total stock comprised 4 to 5-star hotels, whereas 8% was classified within the 3-4 star segments.
The report said Mercure Grand Hotel Doha (175 rooms) was re-branded to Treffen House Doha in Msheireb (Zone 4).
Another development in the segment during the quarter was the Ministry of Municipality & Environment announcing the Simaisma Project, a mega entertainment district spanning 8mn sq m.
The project will feature luxury resorts, an amusement park, residential villas, yacht club, marina, golf course, restaurants, and shops.
The report said total international arrivals exceeded 2.9mn in the second quarter, achieving a jump of 26% year-on-year.
GCC countries accounted for 43% of foreign arrivals, while 19% and 23% were from other Asian and European countries respectively
As of June this year, the average daily rate (ADR) was QR454, an increase of 7% year-on-year.
On the other hand, the revenue per available room (RevPAR) was QR312, up 38% yearly.
Hotel occupancy rose by 29% compared to last year and stood at 69%.
The ADR for 5-star hotels was QR630, while the ADR for 3 and 4-star hotels was QR215 and QR263 respectively, ValuStrat noted.
Meanwhile, the report also noted that retail stock remained unchanged at 2.5mn sq m GLA as there was no major addition during the quarter.
The median monthly rent for shopping centres recorded a decline of 2% QoQ and 5% compared to the same period last year
Retail outlets across Qatar experienced increased footfall as they participated in festivities leading up to Eid.
Inside Doha, the monthly median asking rent for street retail declined to QR125 per sq m, reducing by 5% compared to last quarter and 18% year-on-year.
For street retail outside Doha Municipality, the median monthly rent remained unchanged (on a quarterly basis) at QR145 per sq m, while increasing by 2% annually.
The second quarter recorded in the region of 1,500 commercial lease contracts, declining by 9.3% year-on-year.
Al Wukair, Al Mashaf, and Al Thumama saw the highest concentration of rental activity with some 189 contracts during the quarter, ValuStrat said quoting the Ministry of Municipality & Environment.
For a detailed perspective on the property market, visit: Qatar - Real Estate Review Q2 2024
