Kurdistan Erbil Hotel Market Overview 2013
The outlook for the Kurdistan region continues to gain strength, with an influx of political and economic events fuelling the MICE business. The Kurdish region's hospitality sector, most notably Erbil, continue to show signs of expansion and growth, with Occupancy ADR increasing in tandem with an increased supply of hotels in the market. As Erbil is slowly becoming a fully developed destination, research has shown that there is a clear market gap for internationally branded mid market hotels and branded serviced apartments, especially close to the city centre. Colliers International is forecasting that the Erbil branded hotels will reach an ADR of USD$ 301 and RevPar of USD$ 223 by year end December 2013.