Qatar’s hotel apartments occupancy surge in 2023 Q4
Date
3/26/2024 3:42:38 AM
(MENAFN) The final quarter of 2023 saw a notable uptick in the hospitality sector within Qatar, particularly evident in the occupancy rates of hotel apartments across the country. In comparison to the corresponding period in 2022, there was a significant increase in occupancy, indicating a growing preference among residential tenants for the convenience and affordability offered by serviced apartments in Qatar.
According to recent data from the Planning & Statistics Authority (PSA), the average occupancy rate for deluxe hotel apartments surged from 60 percent in December 2022 to an impressive 76 percent in December 2023. Similarly, standard hotel apartments experienced a substantial rise, climbing from 52 percent to 73 percent during the same period.
Experts at hapondo, a leading property search portal in Qatar, attribute this positive performance to the competitive pricing strategies adopted by hotel apartments. By offering more attractive rates, these establishments have succeeded in capturing a larger share of the traditional tenant market, drawing residents seeking both quality accommodation and cost-effectiveness.
Ahmad Al Khanji, CEO and Co-Founder of hapondo, expressed the following: “When property seekers search for apartment rental, it’s not just about the lowest rent but also value for money that they take into careful consideration.”
“Hotels are already known for great service and facilities, and the offer can become irresistible if the difference were to be small,” Al Khanji further mentioned.
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