In 2024, Qatar is set to surpass the milestone of 40,000 hotel rooms, following a significant growth in the hospitality sector. This increase is attributed to the country’s preparation for hosting major events like the FIFA World Cup 2022. Here are the key highlights of this development:
- Growth in Hotel Supply: Qatar’s total supply of hotel rooms has already exceeded 38,000 and is expected to surpass 40,000 with the completion of new projects in 2024. This expansion represents over a 25% increase in the past 18 months, driven by the demand for accommodations during the FIFA World Cup Qatar 2022. Upcoming hotel openings include 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.
- Stable Occupancy Rates and Competitive Pricing: Despite the increase in supply, occupancy rates have remained stable. In the third quarter of 2023, occupancy rates were recorded at 52% and 53%, comparable to the same period in 2022. The average daily rates in the hotel sector fell from QR440 to QR404, indicating increased value for guests as more hotels compete for patronage.
- Post-Pandemic Recovery and Diverse Offerings: The international tourism market has seen a notable recovery post-pandemic, with Qatar experiencing a significant uptick in arrivals compared to previous years. However, the surge in hotel supply means that the performance metrics of many hotels haven’t fully reflected this overall improvement. The report highlights a growing disparity in the sector, with higher-quality hotels significantly outperforming others. Additionally, Qatar’s focus on hosting international sporting and conference events has contributed to boosting occupancy rates, alongside regular tourism and events.
In light of this burgeoning hospitality sector, BM Events can play a crucial role by providing specialized hospitality staff to meet the growing demands. Our services can help hotels and resorts enhance their guest experiences, manage the increased influx of visitors efficiently, and maintain high service standards in this competitive and expanding market.