The growth trend continues into 2023 as visitor numbers soar to 2.5 million; Marriott International, Hyatt, and others lead expansion efforts.
Qatar’s hotel industry is set for a meteoric rise, according to a comprehensive study conducted by global real estate consultancy Knight Frank.
The report forecasts that the country will boast an astonishing 53,400 hotel rooms by 2028, a figure that includes both ongoing and future developments.
“Qatar’s global appeal continues to edge upwards, with visitor numbers climbing 167 per cent in the first seven months of the year to 2.5 million, helping to boost average occupancy levels to 54 per cent,” Faisal Durrani, the head of Research for MENA at Knight Frank, said.
The research also highlights the industry’s confidence in expansion, predicting the addition of 14,400 new rooms in the capital city within the next five years.
Leading this remarkable growth are six major hotel operators, spearheaded by Marriott International.
The hospitality giant currently has an inventory of 5,430 rooms and plans to add 2,544 more, cementing its leadership in the sector.
Other major contributors include Hyatt Hotels Corporation, Rotana Hotels, IHG Hotels & Resorts, Hilton Worldwide, and Accor, all of whom have significant expansion plans underway.
Adam Stewart, Head of Qatar at Knight Frank, elaborated on the growth.
“2022 witnessed the introduction of 7,265 new keys, and the growth trend has continued into 2023, with an additional 1,230 keys added in the first six months,” he said.
Furthermore, the report detailed that luxury, upper-upscale, and upscale hotels currently make up 74% of the existing supply.
This is set to grow to 78% by 2028, according to STR data. Budget-friendly options will retain a smaller share of 22% in the market.
Qatar’s burgeoning tourism is reflected in the diversity of its visitor demographics. The Gulf Cooperation Council (GCC) leads with 804,239 arrivals in the first half of 2023, followed by Europe, Asia and Oceania, other Arab countries, the Americas, and Africa.
With an expanding luxury hotel sector and a rising influx of global visitors, Qatar is solidifying its status as a prime travel destination.