Qatar: Over 700 hotel keys added in Q1

Qatar: Over 700 hotel keys added in Q1

Doha, Qatar: Over 700 hotel keys have been added to the market in the first quarter (Q1) of this year.

The boost in tourist arrival numbers in January and February supports the expanding hotel sector in Q1, according to a report by Cushman and Wakefield.

The supply of hotel rooms has continued to increase in Qatar over the first three months of 2023, with more than 700 keys were added to the market between January and March.

This followed an unprecedented boost in room numbers in 2022, when more than 7,000 hotel keys were delivered. The total supply in March is approximately 38,500, which reflects an increase of more than 30 percent in 15 months.

New hotels to launch in recent months include The Velero in Lusail, Mina Hotel and Residences in Doha Port, and the Grand Lux in Al Sadd, noted the released by real estate consultancy firm report.

The Planning and Statistics Authority (PSA) has made performance indicators available for the sector. The first nine months of the year saw average occupancy fall from 63 percent

to 55 percent compared to the previous year, despite increasing tourist arrivals.

This can be explained mainly by the significant increase in supply throughout the year.

The report further stated