Hospitality experts at a regional meeting in Oman organised by the Arabian Hotel Investment Conference (AHIC) have declared the country’s tourism industry is set to grow by six to eight per cent annually until 2017.
A recent study by Colliers International real estate entitled 'Oman, Muscat: Economy Hotel – Market Gap' also reports that Oman will continue to develop as a tourist destination by investing in large scale projects, primarily in Muscat, which will also contribute to building the 'Oman Brand'.
However, according to Colliers International MENA director and head of hotels Filippo Sona, the announced forthcoming supply of 4-star and 5-star properties will only serve to further widen the existing gap in the market for branded economy hotels.
| Advertisement |
"The majority of economy hotels in Oman are either locally branded or unbranded, many of which are not purpose built and of a limited size. Due to the fragmented nature of the market, hotel apartments and guest houses tend to compete with the economy hotel market, as there is a lack of differentiation between the two products from a consumer standpoint," said Sona.
AHIC is an annual hospitality conference aimed at connecting senior hotel investors, developers, operators and advisors. AHIC 2014 is due to take place on May 4-5 at the Madinat Jumeirah, Dubai.
Search our database of more than 2,700 industry companies
