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Qatar- Doha hotels outperform regional occupancy rates in 2014: PwC
(MENAFN- The Peninsula) Despite a number of challenges faced by the region in 2014, such as the fall in oil prices and devaluation of the euro against the dollar, Qatar's hospitality sector has performed relatively well, according to PwC's report.
As per the report, Doha saw growth in 2014 with a double digit rise of 10.8 percent in RevPar (Revenue Per Available Room). The primary growth driver in Doha was an impressive occupancy rate of 74 percent, while occupancy rates in the Middle East averaged 68.8 percent, but, (Average Daily Rate) ADR was only $181, against an expected $192 - supply was the real issue, as 3,000 new rooms in Doha came to the market.
PwC has published its second hotel forecast for the Middle East report titled "Accommodating growth", focusing on six major cities in the region; Abu Dhabi, Doha, Dubai, Jeddah, Muscat, and Riyadh. The forecast uses a number of economic variables to forecast hotel occupancy, ADR and RevPAR in each of the six cities and the region in 2015 and 2016.
The report notes that the World Cup will create challenges and opportunities - the Qatari authorities are considering the use of 'floating hotels' - cruise ships that can moor for the duration of the tournament but then move elsewhere. As many as 6,000 rooms could be provided this way.
"Doha is in an early stage of development which presents a unique set of opportunities and challenges, "said Stephen Anderson Country Senior Partner, PwC Qatar. "Looking forward to the 2022 FIFA World Cup, Qatar is looking to diversify away from oil, but tourism is not the principal or the only focus for this investment. Education, innovation, and technology have been a particular priority in recent years, with new infrastructure projects established, and numerous initiatives which will benefit the city long after the football is over," he said.
Nearly 3 million people visited Qatar in 2014, a rise of 8.2 percent on 2013. Moving forward to 2015, 722 rooms recently opened and 6,000 are under construction.
Furthermore, a return of positive ADR is expected in Doha throughout 2015 and 2016, 6.5 percent and 4.5 percent respectively.
As per the report, Doha saw growth in 2014 with a double digit rise of 10.8 percent in RevPar (Revenue Per Available Room). The primary growth driver in Doha was an impressive occupancy rate of 74 percent, while occupancy rates in the Middle East averaged 68.8 percent, but, (Average Daily Rate) ADR was only $181, against an expected $192 - supply was the real issue, as 3,000 new rooms in Doha came to the market.
PwC has published its second hotel forecast for the Middle East report titled "Accommodating growth", focusing on six major cities in the region; Abu Dhabi, Doha, Dubai, Jeddah, Muscat, and Riyadh. The forecast uses a number of economic variables to forecast hotel occupancy, ADR and RevPAR in each of the six cities and the region in 2015 and 2016.
The report notes that the World Cup will create challenges and opportunities - the Qatari authorities are considering the use of 'floating hotels' - cruise ships that can moor for the duration of the tournament but then move elsewhere. As many as 6,000 rooms could be provided this way.
"Doha is in an early stage of development which presents a unique set of opportunities and challenges, "said Stephen Anderson Country Senior Partner, PwC Qatar. "Looking forward to the 2022 FIFA World Cup, Qatar is looking to diversify away from oil, but tourism is not the principal or the only focus for this investment. Education, innovation, and technology have been a particular priority in recent years, with new infrastructure projects established, and numerous initiatives which will benefit the city long after the football is over," he said.
Nearly 3 million people visited Qatar in 2014, a rise of 8.2 percent on 2013. Moving forward to 2015, 722 rooms recently opened and 6,000 are under construction.
Furthermore, a return of positive ADR is expected in Doha throughout 2015 and 2016, 6.5 percent and 4.5 percent respectively.
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