Muscat to have largest branded hotel supply soon
MUSCAT: Muscat is likely to have the largest branded hotel supply by 2021, according to a regional report by Colliers International. As part of enhancing tourism sector in the Sultanate, more and more hotels are opening up across the country to cater to the needs of the growing number of tourists.
According to MENA Quarterly Review Q2 2019 by Colliers International, “By 2021, Muscat is anticipated to have the largest branded hotel supply overtaking Manama.” The report stated that: “In Q2 2019, the only notable branded hotel opening in the respective markets was the entry of W Muscat (279 keys); however, year-on-year figures show that a total of 1081 keys have been introduced into all the markets with Muscat again having the highest increase in room supply.
“By the end of the year 2019, it is expected that an additional 2100 keys will mark their entry into all of the markets. The majority of this forthcoming supply is expected in Muscat (1200 keys).”
As the government intends to open more hotels and provide better services for the movement of the tourists in the country, the report said that the project will also focus towards the development of 3-star hotels in outlying regions.
“Oman’s Ministry of Tourism has signed a deal of worth $11.7 million (OMR4.5 million) to develop and construct new hotels, restaurants and resorts across the Sultanate. A significant focus of the project is the development of 3-star hotels in outlying regions. In addition, the project is expected to offer employment opportunities, and assist in the economic development of the country as well further development of the tourism sector in Oman,” the statement in the report read.
Collier’s performance outlook expects both Kuwait City and Amman to register RevPAR declines for full-year 2019. Inversely, Manama is expected to witness a 6 per cent RevPAR growth while Muscat is expected to remain relatively stable.
More hotels are opening up across the country to cater to the needs of the growing number of tourists