Hotel investment outlook promising for Qatar

The outlook for the hotel industry in Qatar is “especially promising” for 2017, according to the leader of one of the Middle East’s most prominent hospitality companies.

Hamad Abdulla Al-Mulla, Chief Executive Officer, Katara Hospitality, commented: “The region’s fundamentals are strong, making it an attractive investment destination. In Qatar for example, the outlook for the hotel industry is especially promising. According to the Ministry of Economy and Commerce, in 2015, income from tourists amounted to QAR18.3 billion, nine-times the QAR2.1 billion recorded in 2010, demonstrating the clear opportunity for proven investors like Katara Hospitality in the region.”

Mr Al-Mulla was speaking ahead of the AHIC Regional Briefing on Qatar, being held at The Ritz-Carlton Doha on 24 January 2017 and hosted by Katara Hospitality. The event is one of the Regional Road shows organised by Bench Events and Meed Events in the lead-up to the Arabian Hotel Investment Conference (AHIC), being held at Madinat Jumeirah, Dubai from 25 to 27 April 2017.

The AHIC Regional Briefing on Qatar, an exclusive invitation-only knowledge and networking event, will debate the key challenges and opportunities impacting the Qatar hospitality market in 2017. Presentations from Philip Wooller, Area Director – Middle East & Africa, STR Global, will review key hotel performance indicators and pipeline with a focus on Qatar, while Filippo Sona, Director - Head of Hotels MENA Region, Colliers International, will share the firm’s Guest Experience Index and hotel performance forecasts in Qatar for the year ahead.

Mr Sona said that while global macroeconomic conditions may have caused projects to slow down in 2016, “developers have to continue their plans if they want to capitalise on the World Cup 2022.” He added: “For existing hotels, the key to a satisfying 2017 is to prepare a budget focused on cost-balancing strategies. This will entail a closer communication and marketing with customers via social media, attempting to minimise OTA costs.” Mr Al-Mulla agreed that 2016 “will be remembered as a challenging year for hospitality investors as a mix of global geopolitical and economic issues has resulted in a more cautious approach towards investment decisions.” However, he revealed that Katara Hospitality’s “healthy diversification strategy” had delivered continued success and growth.

“This business-driven approach ensures that a balance is met across assets of short- and long-term profitability and that the company’s cash flow projections adequately support its development. However, Katara Hospitality continues to identify new opportunities to create lasting value. Our current portfolio includes assets in Qatar, Europe, Africa and Asia, and we are continuously evaluating opportunities in emerging markets, which reflect and fit with our strategy of creating a portfolio of iconic hotels in prime locations. We also see opportunities in refurbishing hotels to restore them to their former glory and have developed a reputation for this type of investment.”

Katara Hospitality is investing in a phased renovation at The Ritz-Carlton, Doha, to be completed in 2017, in addition to developing 18 new villas at the Sealine Beach Resort in Qatar. The group is also developing the award-winning Katara Towers development in Lusail Marina District, which will become a new hospitality landmark and an architectural icon for Qatar. 

Essential Information

Regional Briefing on Qatar – a prelude to the Arabian Hotel Investment Conference 2017

Date:                       Tuesday 24 January 2017

Timing:                   10am-12pm

Hosted by:              Katara Hospitality

Location:                  The Ritz-Carlton, Doha – Qatar

Contact:                  Annie.Santo@benchevents.com

For more information, visit: www.arabianconference.com