The increasing concern over the COVID-19 implications on the travel and tourism sector coupled with a challenging economic outlook for the GCC region will have a major impact on the recovery of the hotel sector. Although COVID-19 has challenged our fundamental forecasting approach that typically relies on predictable market trends and metrics, we share our assumptions pertaining to what the recovery model may look like for select cities in the GCC and the likely impact on EBITDA.
HVS interviews Mr. Yazan K. Haddad, CEO of Bahrain Marina Development Company, who leads the development of the unique waterfront mixed-use project. Bahrain Marina is expected to become one of the iconic lifestyle destinations in the Kingdom.
Next in the series of Interviews with Leaders is an interview with Mr. Ludwig Bouldoukian, Regional VP of Development, Middle East and North Africa - Hyatt Hotels Corporation.
GCC countries have supported and grown inbound tourism in the last 15-20 years. HVS remains confident that accommodated room night demand will grow despite the aggressive development pipeline.
The Middle East Hotel Survey 2011 includes 352 hotels and some 93,500 hotel rooms (an increase of 36% on last year) across 52 cities in the Middle East, making it one of the most reliable benchmarking surveys in the region.
This article highlights the impact that the pro-democracy uprisings in countries such as Tunisia, Egypt and Libya have had on the region’s hotels, including dramatic changes in values.
HVS’s Middle East Hotel Survey for 2010 covers 259 hotels totaling 68,888 rooms. This year, we have included for the first time some additional submarkets, notably in the UAE, Kingdom of Saudi Arabia and Egypt.
An overview of the Kuwait hotel market
An overview of the Bahrain hotel market
This Country Snapshot provides an overview of the recent historic hotel performance in Manama together with research on new supply. This article and the research for it was completed in April 2007.