Helped by COP28 and New Year’s Eve, Dubai’s hotel industry reported its highest monthly average daily rate (ADR) on record, according to preliminary December data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
Today, Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, announced its expansion in the Middle East with data collection in Riyadh, Saudi Arabia, to accommodate the growing demand and fierce competition facing new hoteliers in the market.
Riyadh’s hotel industry reported its highest average daily rate (ADR) and revenue per available room (RevPAR) level on record, according to October 2023 preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
Dubai’s hotel industry has seen a noticeable jump in occupancy on the books as the market prepares to host the Dubai Airshow and COP28, according to CoStar’s Forward STAR data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
Qatar’s travel and tourism industry has been under the scrutiny of the public eye ever since the FIFA World Cup 2022. As the first Arab state to hold the mega event, the country spent around $220 billion on infrastructure during a 12-year preparation and witnessed an impressive and fast-paced transformation, including the development of an ultra-modern new city, spectacular stadiums, a state-of-the-art metro, countless of leisure attractions and world-class hotels dotting the skyline.
The year 2023 was promising. Hotel occupancy was up and an expectation to serve 3.9 million tourists this year was encouraging.
Dubai’s hotel industry posted its highest September occupancy since 2016, according to preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
In a significant milestone, the World Travel & Tourism Council (WTTC) and the Ministry of Tourism of Saudi Arabia have announced the extension of their partnership through the signing of a Memorandum of Understanding (MoU).
Leading global real estate consultancy firm, Knight Frank, reports an exciting outlook for the United Arab Emirates' dynamic hospitality sector, characterised by an additional 9,200 rooms expected by the end of 2023. According to Knight Frank's latest analysis, by the end of 2023, approximately 154,000 rooms will be operating in Dubai's hospitality sector, marking a substantial 6.4% increase from the year, 2022.
Dubai’s resurgent tourism industry is celebrating a successful first half of 2023, after welcoming a record 8.55 million international overnight visitors, compared to 8.36 million tourists in H1 2019. Surpassing pre-pandemic visitation levels and further bolstering the city’s bid to become the world’s most visited destination, the latest data published by Dubai’s Department of Economy and Tourism (DET) represents the industry’s best ever H1 performance.
Jordan has become a popular travel destination in the Middle East. It was ranked the sixth Arab country in the 2022 Travel and Tourism Development Index and listed within the top 10 tourist destinations in 2023 by the US Tour Operator Association. Maria Quintero, HVS’ associate – consulting and valuation, provides insights into Jordan’s success and the factors that make it an appealing choice for travelers worldwide.
The tourism industry in Bahrain remains an important contributor to the country’s economy and employment, and the government is committed to supporting its growth and development in years to come despite the current shift in segmentation and increasing competition from neighboring countries.
As UAE recovers from COVID impact and retains its position as a global tourism destination, a performance analysis of the three main emirates for the years 2019 – 2022 is presented by HVS team along with key development trends and opportunities.
The Israel hotel market has demonstrated remarkable resilience in the face of challenges and has successfully rebounded to the pre-pandemic levels seen in 2019. This article explores the hotel market performances and values in key Israeli locations in 2022.
Helped by the Arab League Summit, Jeddah’s hotel industry posted its highest monthly occupancy since August 2016, according to preliminary May 2023 data from STR.
In this report, HVS explores ways in which the Abraham Accords can be leveraged to stimulate tourism growth in Israel. It outlines tourism goals for 2025 and gives country overviews for each of the member states.
HVS and the Abraham Accords Peace Institute analyse the affects of easier visa procedures on tourism growth and the subsequent increase in a country's GDP.
The World Travel & Tourism Council’s (WTTC) 2023 Economic Impact Research (EIR) today reveals the UAE Travel & Tourism sector is projected to meet the 2019 peak this year.
Dubai’s hotel industry saw its saw highest April 2023 occupancy levels during the Eid-al Fitr holiday period, according to preliminary data from STR.
Dubai welcomed 4.67 million international overnight visitors in the first quarter of 2023, compared to 3.97 million tourists during the same period in 2022. This marks a 17 % YoY growth and the city’s best Q1 performance since the pandemic, placing it firmly on track to becoming the most visited international destination, according to the latest data published by Dubai’s Department of Economy and Tourism (DET).