Markets & Performance Middle East News - Hospitality Net

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Opinion Article

April 11, 2023

Investing in Innovation: Catering to the Booming Saudi Hospitality Industry

This year’s conference theme for the Future Hospitality Summit Saudi Arabia (FHS) is ‘Invest in Change’, highlighting the importance of the positive change that can be brought forward through the investment in time, intellect and expertise in the hospitality industry to keep up with changing times and trends to better shape the future of the industry. In the lead up to the event we asked a number of industry partners how they are investing in change.

By Sultan Bader Al-Otaibi, Chief Executive Officer – Taiba Investment Company, The Bench

April 5, 2023

Saudi Arabia currently represents the single biggest opportunity for hospitality and tourism

The PKF hospitality group recently held one of its 196+ spotlight events in Riyadh in recognition of the significant amount of projects that have been announced for Saudi Arabia, the largest sovereign state by landmass in the Middle East with a total of 2,150,000 km2 and 35 million inhabitants.

PKF hospitality group

February 16, 2023

International Tourists Unlocking Economic Recovery Across the UAE Says the World Travel & Tourism Council

The World Travel & Tourism Council (WTTC) has today revealed positive signs of recovery for the Travel & Tourism sector in Dubai and Abu Dhabi as overseas travellers head back, providing a much-needed boost to economies across the country.

United Arab Emirates

February 14, 2023

Abu Dhabi’s hotel performance remained steady in January

Abu Dhabi’s hotel occupancy remained roughly 5 percentage points lower than pre-pandemic levels, while average daily rate (ADR) and revenue per available room (RevPAR) far exceeded recent comparables for the month, according to preliminary January 2023 data from STR.

Abu Dhabi, United Arab Emirates

February 7, 2023

Dubai receives 14.36 million international visitors in 2022

Dubai received 14.36 million international overnight visitors in 2022, growing 97 per cent YoY from the 7.28 million tourist arrivals in 2021, according to the latest data published by Dubai’s Department of Economy and Tourism (DET). The growth, which enabled the emirate to surpass global and regional tourism recovery levels, contributes to the goal of the Dubai Economic Agenda D33 launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to consolidate Dubai’s status as one of the world’s top three cities for travel and business.

Government of Dubai Media Office

Dubai, United Arab Emirates

January 11, 2023

STR: Dubai hotel industry closed 2022 with healthy performance

Dubai’s hotel occupancy came in lower than the pre-pandemic comparable, but average daily rate (ADR) once again pushed revenue per available room (RevPAR) far above 2019 levels, according to preliminary December 2022 data from STR.

Dubai, United Arab Emirates

December 12, 2022

STR: Jeddah’s hotel performance surpassed pre-pandemic levels in November

Jeddah’s hotel performance came in lower than the month prior but surpassed pre-pandemic comparables, according to preliminary November 2022 data from STR.

Jeddah, Saudi Arabia

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Opinion Article

December 1, 2022

Saudi Arabia’s Tourism Landscape – Establishing a Vision

Saudi Arabia is entering an entirely new tourism landscape with its Saudi Vision 2030 initiatives. With a strong economic outlook, a diversification of its economy, and significant governmental support, the hospitality and tourism markets across the Kingdom are expected to thrive over the next decade.

By Zabada Abouelhana and Ahmad Yousry Elbeheiry

November 24, 2022

FIFA World Cup, rising fossil fuel exports to drive Qatar economy at 4.6% in 2022, says GlobalData

The much awaited 22nd FIFA men's World Cup is taking place in Qatar from 20 November to 18 December 2022. The small and oil and natural gas-rich Arabian Gulf nation has reportedly spent $200 billion so far on infrastructure to accommodate over one million visitors during the month-long sports extravaganza. Against this backdrop, the Qatar economy is expected to grow at a faster pace of 4.6% in 2022 compared to 1.5% in 2021, forecasts GlobalData, a leading data and analytics company.

November 17, 2022

Qatar’s hotel industry set to win big during the FIFA World Cup

With the 2022 FIFA World Cup kicking off on Sunday, 20 November, Qatar’s hotel industry is looking forward to a nice performance lift from this “mega event” as fans from all over the world are set to visit the Middle East for a game (or several) of football.

November 15, 2022

STR: Riyadh’s hotel industry showed improved performance in October

Riyadh’s hotel industry showed improved performance from the month prior, according to preliminary October 2022 data from STR.

Riyadh, Saudi Arabia

October 27, 2022

Qatar Hotel Bookings Rising Ahead of the FIFA World Cup

Across the months of November and December 2022, Qatar will welcome football fans from across the globe as the first Arab nation to host the FIFA World Cup. With the first match kicking off on 20 November, hotel bookings in the country have ramped up since rooms were released to the public earlier this month. Over the coming months, STR will deliver a series of articles to analyze hotel booking trends for the “mega event” as well as examine historical data as it actualizes—not only in Qatar but surrounding destinations before and after the event.

Opinion Article

October 6, 2022

What can Qatar hotels learn from previous FIFA World Cups?

One of the eternal truths of hotel development is: Show me a city hosting a World Cup or an Olympics, and I’ll show you a more-than-healthy development pipeline.

By Alex Sogno, CEO, Global Asset Solutions

September 14, 2022

STR: Abu Dhabi hotels recorded higher occupancy in August

Abu Dhabi’s hotel industry recorded higher occupancy than the month prior, but lower room rates, according to preliminary August 2022 data from STR.

Abu Dhabi, United Arab Emirates

August 11, 2022

STR: Dubai hotel performance remained steady in July

Aligned with historical patterns, Dubai’s hotel industry reported lower performance than the month prior while recovery levels to 2019 remained steady, according to preliminary July 2022 data from STR.

Dubai, United Arab Emirates

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August 9, 2022

Dubai firmly on course to achieve tourism goals as city welcomes 7.12 million international visitors in first half of 2022

Dubai attracted 7.12 million international overnight visitors between January and June 2022, recording more than 183% growth in visitors compared to the 2.52 million tourists who visited Dubai during the same period in 2021, according to latest data from Dubai’s Department of Economy and Tourism (DET). This positive trend in H1 2022 places the city firmly on track to achieve its tourism goals for 2022 and beyond, and further reinforces its position as an international destination of choice.

Government of Dubai Media Office

United Arab Emirates

July 13, 2022

STR: Riyadh hotels reported higher occupancy in June

Riyadh’s hotel industry reported higher occupancy than the month prior, but lower room rates, according to preliminary June 2022 data from STR.

Riyadh, Saudi Arabia

July 6, 2022

Dubai hotels achieve profitability levels seven times higher than 2019

Among key hotel markets in the Middle East, Dubai’s gross operating profit per available room (GOPPAR) came in seven times higher than the 2019 comparable, according to STR‘s May 2022 P&L data release.

Dubai, United Arab Emirates

July 5, 2022

Saudi Arabia’s Travel & Tourism to have fastest growth in the Middle East over the next decade

The World Travel & Tourism Council (WTTC) has revealed the Travel & Tourism sector in Saudi Arabia is expected to grow at an average of 11% annually over the next decade, making it the fastest growing Travel & Tourism in the Middle East.

June 15, 2022

STR: Jeddah hotels reported highest performance since September 2019

Jeddah’s hotel industry reported its highest performance levels since September 2019, according to preliminary May 2022 data from STR.

Jeddah, Saudi Arabia