Dubai: Qatar’s hospitality sector experiences a 29 per cent rise in hotel occupancy rates compared to the same period in 2023, holding steady at 69 per cent.
This growth in the second quarter of the year is marked by an influx of new hotel openings and increased tourist arrivals, according to consulting firm ValuStrat.
Between April and June this year, the Average Daily Rate (ADR) rose to $124 (Dh455), reflecting a 7 per cent year-on-year increase.
Meanwhile, the Revenue Per Available Room (RevPAR) reached $85 (Dh312), marking a 38 per cent annual boost.
The surge in occupancy can be a result of the entertainment and leisure sectors’ expansion was further supported by the government’s introduction of the Simaisma Project, a major new cultural and entertainment development.
Launched by the ministry of municipality and environment, the $5.4 billion (Dh19.8 billion) Simaisma Project, spearheaded by Qatari Diar, covers 8 million square metres and includes luxury resorts, an amusement park, residential villas, a yacht club, a marina, a golf course, restaurants, and shops.
According to Qatar Tourism data, the country’s total hospitality inventory stands at 39,915 keys. This includes 74 per cent hotel rooms and 26 per cent hotels and serviced apartments.
For a detailed perspective on the property market, visit: Qatar - Real Estate Review Q2 2024
