DOHA: With more and more players entering Qatar’s hospitality sector, the industry’s present market dynamic is bound to change in a big way. The pricing will be competitive and the tariffs will be dictated by several factors including the rate of market demand and the pricing strategies of the lead brands in the market, according to market analysts.
Qatar Development Bank (QDB) analysts noted Qatar is building 77 new hotels and 42 hotel apartments ahead of the FIFA World Cup in 2022. Some hotels are also looking at joint ventures. Within a short span of its opening, Qatar’s iconic convention centre (Qatar National Convention Centre) has emerged as a major venue of global conferences and trade fairs attracting large number of visitors. The opening of the new International airport is expected to attract additional number of visitors to the country.
The Qatar Tourism Authority (QTA) has adopted an ambitious strategy of increasing number of visitors by 20 percent over the next five years. It recently stated that the country saw a 58 percent increase in the total number of tourists from Asia,19.13 percent from the Arab world, and 15 percent from Europe. A total of 72 percent of this tourism is business motivated.
The positive side of a competitive market is that it will help keeping the industry’s service level high. Good quality of service brings added value to the destination.
Pricing policy will continue to be driven by demand and hotel operators will have to better manage their expenses during soft demand periods.
The QTA is active in organising initiatives to encourage investment in leisure, business, culture, education and sports. It has identified sports, culture and the MICE (Meetings, Incentives, Conferences and Exhibitions) sectors as potential segments.
The Peninsula
