Qatar and the UAE remain the best-performing destinations for hotels in the MENA region, according to figures released by MKG Hospitality’s database CompSet.
The year-to-date results show Qatar was the region’s best performing country in terms of revenue per available room (RevPAR), with a result of $213.
Qatar’s average daily rate was more than $306, with an occupancy rate of 69.5%.
However, the UAE sacrificed average daily rates to $260 in order to achieve an occupancy rate of 81%. RevPAR came in at just over $210.
Kuwait and Bahrain were third and fourth, with RevPAR close to $164.
Oman and Algeria achieved RevPAR of $158 and $148, respectively.
MKG Hospitality chief executive Vanguelis Panayotis said that although the results were still positive, they signaled that many markets throughout the region were ready to enter the next stage of their hotel cycle.
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“It is a natural progression and part of the hotel industry’s evolution cycle — to grow, restructure and consolidate,” explained Panayotis.
“Understanding this is fundamental towards adopting the right strategies.”
He went on to add that the recent pace of hotel development throughout the MENA region was nothing short of amazing.
“What’s even more positive is that it has proven to be sustainable, with an increasing number of tourist arrivals and in turn hotel occupancy rates throughout the region, year-on-year,” said Panayotis.
“The Middle East is also outperforming the world in terms of RevPAR growth and pipeline growth.”
MKG’s senior consultant and director for MENA said the region was still susceptible to current international risks, especially in the upscale hotel category.
According to MKG Hospitality’s forecasts, mid-scale and budget hotel products will help achieve the region’s next stage of the hotel cycle.
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