Global hotel consulting firm HVS projected the average hotel occupancy rates in most Gulf Cooperation Council (GCC) countries to increase in the 2018-27 period from the previous 10 years. It expected the average occupancy rate at hotels in the UAE to improve from an average of 73% in the 2008-17 period to 75% in the 2018-27 period, the rate at hotels in Saudi Arabia to increase by eight percentage points to 69% in the coming 10 years, and the occupancy rate at hotels in Oman to grow from an average of 61% in the past 10 years to 66% in the 2018-27 period. It also forecast the occupancy rate at hotels in Kuwait to increase from an average of 58% in the 2008-17 period to an average of 62% over the coming 10 years, while it anticipated the rate in Bahrain to expand by five percentage points to an average of 60% over the 2018-27 period. Also, it projected the average occupancy rate at hotels in Qatar at 63% between 2018 and 2027, nearly unchanged from 64% over the past 10 years. In parallel, HVS projected the average daily rate per room at hotels in Saudi Arabia to outperform the rate of hotels in other GCC economies, and to rise from an average of $191 in the 2008-17 period to $225 over the coming 10 years. Further, it expected the revenue per available room (RevPAR) at hotels in Saudi Arabia to post the highest rate in the region, increasing from an average of $116 between 2008 and 2017 to $155 in the 2018-27 period. It anticipated the RevPAR at hotels in Qatar to follow with an average of $117 over the 2018-27 period, then Oman with $116, Kuwait with $115, the UAE with $109, and Bahrain with $102.
Source: HVS Research