https://arab.news/wx8vb
Makkah and Madinah鈥檚 2022 hotel occupancy rate forecast has increased by 10.5 and 17 percentage points respectively after two years of COVID-19 restrictions in the hospitality sector were lifted, according to Colliers鈥� July 2022 report.
The real estate and investment management firm believe that, after the long-awaited return to Hajj, Makkah鈥檚 hotel occupancy rates are now expecting a 106 percent surge compared to last year, reaching 52 percent occupancy.
Likewise, Madinah is looking at an 80 percent increase, achieving 61 percent occupancy.
In contrast, Sharm El-Sheikh, Alexandria, and Doha experienced a 9.2, 6.9, and 4.6 percentage point reduction respectively from their previous occupancy rates forecasts.
Moreover, 抖阴短视频鈥檚 booming oil market has increased corporate demand in the Alkhobar and Dammam regions, as occupancy levels are predicted to reach 59 percent.
In the UAE, hotel occupancy rates rose significantly between Oct. 1, 2021 and March 31, 2022 in tandem with the Expo 2020 event which took place in Dubai.
Although Qatar has experienced a decline in its hospitality market in the first half of 2022, this is set to change with the 2022 FIFA World Cup, where Doha鈥檚 hotel occupancy is anticipated to reach 70 percent by the end of the year 鈥攁 3 percent decline compared to 2021.
The World Cup is expected to have a positive impact on the UAE鈥檚 hospitality markets, as spectators decide to take a pit stop at Dubai or Abu Dhabi, forecasted Colliers.
Unlike Sharm El-Sheikh and Alexandria, occupancy rates in Cairo and Hurghada are predicted to come in at 69 and 59 percent respectively this year, a 19 and 11 percent increase respectively year-on-year.
Furthermore, other countries in the region such as Jordan and Oman are also expecting to see higher hotel occupancy rates in the second half of 2022.