The average daily rates in December 2022 reached an average of QAR 2,112 compared to December 2021 where it reached QAR 454.
Only 3% of potential investors expressed interest in investing in Qatar’s hospitality sector, according to a real estate company survey.
The Knight Frank’s latest Destination Qatar report surveyed 30 Qatar-based High-net-worth individual (HNWI), each with a standing net worth of over $500,000.
Respondents indicated a preference for other segments of real estate, with residential being the most popular choice standing at 37%, followed by offices at 33%, retail at 23%, and industrial warehousing and branded residences tied at 17%, the survey detailed.
Offering a contrast, reports showed a similar survey conducted with Dubai’s HNWIs revealed that hospitality was the second-most attractive form of real estate investment, with 15% of respondents ranking it as their top choice.
Meanwhile, hotels in Qatar are reportedly experiencing their lowest occupancy rates in years, according to the latest data from Qatar Tourism. In April, the average occupancy was 52%, casting a 9% decrease compared to the previous year.
In April 2022, the occupancy rate was 57%, while the best April performance was in 2019 with 70%.
Regarding revenue per available room (RevPAR) in the hospitality sector, April 2023 figures matched those of April 2022, both claiming QAR 229. Although this exceeds the low of QAR 211 recorded in 2020, it falls short of the QAR 261 achieved in 2019.
The average daily rates (ADRs) in April 2023 saw a 9% year-on-year increase to QAR 438, surpassing April 2019’s figure of QAR 402.
During the FIFA World Cup Qatar 2022, the month of December saw record ADRs and RevPAR levels. ADRs reached an average of QAR 2,112, and RevPAR was QAR 1,281.
In comparison, December 2021 had ADRs of QAR 454 and RevPAR of QAR 316.
One month later, in January 2023, ADRs increased by 13% compared to the previous year, but RevPARs declined by 8%.
Occupancy levels also dropped by 19% year-on-year to 52%. In the following February, ADRs rose by 12%, RevPARs increased by 8%, and occupancy reached 52%, representing a 4% decrease.
Although these results fall short of the exceptional highs seen during the World Cup period of November and December, they indicate positive signs of growth in the future, reports said.
During the World Cup, approximately 3.4 million football fans attended the event in person, while billions more watched from around the world.
Despite contrasting narratives portrayed in the global media, which officials vehemently described as a targeted and Islamophobic campaign to discredit the country at the time, authorities in Qatar had hoped viewers watching from around the world would be inspired to eventually visit Qatar, a country that is rapidly transforming.
Qatar has upped its efforts to boost tourism following its successful hosting of the FIFA World Cup, outlining a goal to attract some six million visitors every year by 2030.
Among the steps taken to reach that goal was the expansion of the Hayya Platform, which had served as a crucial gateway for fans travelling into Qatar during the tournament last year.
The move allows more access for tourists who currently require visas to enter Qatar.
The relaunch of the Hayya platform also accelerates the status of Doha as an Arab Tourism Capital and allows visitors from over 15 Arab countries to enter the country.
The Hayya New E-visa comes in different categories based on nationality, residency or other international visas already in possession of the traveller.
There are three additional categories of travellers who will be granted easier approval.
A1 category includes all nationalities that do not qualify for Visa on Arrival or Visa Free Entry, while A2 is designated for Gulf Cooperation Council (GCC) residents – which now includes all professions. A3 is set for international visitors who have visa or residency from Schengen countries, the United Kingdom, the United States, Canada, and New Zealand.