File photo used for representation
Doha, Qatar: The total supply of hotel rooms in the country has surpassed 38,000 and is anticipated to surpass 40,000 rooms with the completion of several new projects in 2024, according to a research report.
The total supply of rooms has been growing by over 25 percent during the past 18 months, an increase driven by Qatar’s need to provide hotel accommodation to host the FIFA World Cup Qatar 2022, said a quarterly real estate report by Cushman and Wakefield.
The report projects various new hotels that are expected to open in the coming months including Andaz Doha, Four Seasons Resort and Residences at the Pearl Island, NH Collection Oasis Doha Hotel, Rixos Qetaifan North, Rosewood Doha, and Waldorf Astoria West Bay.
“PSA statistics showed that occupancy rates remained stable in Q3 compared to the same months last year; however, supply has significantly increased over the same period,” it said.
Occupancy rates for July and August were recorded at 52 percent and 53 percent in Q3 2023, while the same period in 2022 reported 55 percent and 52 percent.
Average daily rates for the entire hotel sector fell by QR440 to QR404 in Q3, signalling an increasing value for guests as a higher number of hotels compete for guests.
Post pandemic period, the international tourism market has experienced a noteworthy recovery this year. The report added, “While this has been the case in Qatar, with arrivals significantly up on previous years, the increase in hotel supply means the performance metrics of many hotels have not reflected the overall improvement.” The research group mentioned the increasing disparity between hotels, with some of the higher-quality entities significantly outperforming others in the sector.
In the meantime, Qatar’s focus on expanding the number of international sporting and conference events has helped to boost occupancy during the quarter in addition to tournaments and events.
