1,200 NEW ROOMS TO ENTER MUSCAT’S HOSPITALITY SECTOR

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MUSCAT –

According to Colliers MENA Review for the second quarter, an additional 2,100 rooms will mark the entry into all of the four markets by year end.

‘The majority of this supply is expected in Muscat (1,200 rooms),’ stated the Colliers MENA Review.

The report added that in Q2 2019, the only notable branded hotel opening in the respective markets was the entry of W Muscat (279 rooms). However, year-on-year figures show that a total of 1,081 rooms have been introduced into all the markets with Muscat again having the highest increase in supply.

It said that the year-on-year change in branded hotel supply from H1 2018 to H1 2019 was nine per cent in Muscat, six per cent in Amman, three per cent in Kuwait City and Manama one per cent.

Colliers’ performance outlook expects both Kuwait City and Amman to register declines in Revenue per Available Room (RevPAR) for 2019.

‘Inversely, Manama is expected to witness a six per cent RevPAR growth while Muscat is expected to remain relatively stable.’
The report added that in H1 2019, Manama was the only market to register a year-on-year increase in RevPAR. This increase was driven by occupancy rather than rate due in part to a growing corporate demand following the discovery of new oil reserves in 2018. ‘A notable highlight in the performance of all the markets has been the decline in average rate due to uncertainty in macro-economic conditions.

‘This uncertainty has led to increasing price sensitivity across each of the market’s respective demand segments.’

Mid-market hotels
Oman’s Ministry of Tourism has made a push for mid-market hotels signing a US$11.7mn deal (RO4.5mn) to develop and construct new hotels, restaurants and resorts across the country.

‘A significant focus of the projects is the development of three-star hotels in outlying regions. In addition, the project is expected to offer employment opportunities, and assist in the economic development of the country as well further development of the tourism sector.’

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