(MENAFN- The Peninsula) Sachin Kumar |
The Peninsula
Fans and tourists coming to Qatar, for the FIFA World Cup Qatar 2022, will have plenty of options to stay in the country. Hotels in Qatar are expected to add around 5,000 rooms before the mega sport event.
With this new addition, the number of rooms in hotel and serviced apartments is expected to increase to 45,000 before the world cup, according to a report released by real estate consultancy firm Cushman & Wakefield Qatar.
“It is expected that 5,000 new hotel keys will be completed ahead of the FIFA World Cup in November. This new supply, coupled with existing hotel supply and serviced apartments, will deliver approximately 37,000 keys, or 45,000 rooms,” said the 'Q1 Real Estate Market Review' report. The number of hotel rooms at the end of last year was around 30,000. The expansion in the hospitality sector will continue even after the world cup. According to the report the total supply of hotel rooms is expected to reach 50,000 by 2026.
“Qatar's hotel room supply reached 29,386 by year-end 2021, which reflects a 6 percent compound average growth rate per annum since 2015. By 2026, the overall supply of hotel keys is expected to reach 50,000,” noted the report.
The hotels are likely to perform better going forward as the number of tourists coming to Qatar is expected to increase further in coming months as the country gets closer to hosting the football world cup. This will fuel the recovery in country's tourism sector.
The hotel and hotel apartments in Qatar witnessed a robust performance with the overall occupancy rate being at 56 percent in February 2022. The hotels of all categories, ranging from five star to two and one star, have seen rise in occupancy rates and revenue per available room, according to the Planning and Statistics Authority data.
The hospitality sector has remained resilient last year. An estimated 1,980 room keys from eight hospitality properties were added during last year. Steigenberger Hotel Doha (with 206 rooms) and Zulal Wellness Resort (with 180 rooms) were unveiled during the last quarter of 2021.
“Qatar will benefit from a unique opportunity to promote and expand tourism by hosting the FIFA World Cup in 2022. We expect tourism from global markets to grow significantly in the next 5 years, while the return of the Saudi market will also boost tourist arrivals. Strong growth in tourism numbers will be required to support occupancy rates and revenues as supply continues to grow,” said the report.
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