11.540 New Hotel Rooms to Be Added in Qatar in The Second Half Of 2022

  • Publish date: Friday، 19 August 2022
11.540 New Hotel Rooms to Be Added in Qatar in The Second Half Of 2022

According to a report published on Wednesday by ValuStrat, Satyendra Pathak Doha Hospitality stock in Qatar is anticipated to surpass 30,100 keys with the addition of roughly 760 keys during the second quarter of 2022. 11,540 keys are anticipated to be issued for the remaining months of 2022, according to ValuStrat's Qatar Real Estate Market analysis report for the second quarter of 2022. Al Aseel Hotel in Najma with 126 rooms, Zulal Wellness Resort in Ruwais with 120 keys and 60 residences, Terminal Inn by Edar City Centre in Rawdat Al Khail with 96 apartment suites, and Le Royal Meridien in Lusail with 137 apartments and 240 keys were notable additions.

After being renovated, Somerset in West Bay reopened with a total of 228 apartments. According to the data, there were 725,416 international visitors overall in the first half of 2022, up 662 percent from the same time the year before. 65 percent of all foreign visitors so far this year have come from Asia and the GCC. The average daily rate (ADR) for hotels and hotel apartments was QR460 as of June YTD 2022, up 18.2 percent over the previous year, despite the fact that the average occupancy of hotels and hotel apartments (excluding keys used for quarantine) was 56 percent, down 5 percent YoY. The ValuStrat Pricing Index (VPI) - Residential retreated back to 64.8 points in the second quarter of 2022, canceling gains it earned in the previous quarter, according to the research.

The index's value dropped by a minimal 0.2 percent QoQ and 1.4 percent YoY. As of the first quarter of 2016, the VPI is a valuation index with a base of 100 points. Apartments had a 0.2% marginal capital growth compared to the first quarter of 2022. The apartments in West Bay Lagoon and The Pearl saw capital gains of 1.1 percent and 0.5 percent, respectively, over the previous three months. However, Lusail's apartment capital values did not increase this quarter.

The villa submarket saw a minor quarterly decline of 0.2%, however, this still shows that the villa market is heading towards stabilization. Price drops of up to 1.2 percent every quarter were observed in Al Waab, Muaither, and Al Dafna. There was no change in the capital values of the villas at Al Thumama, Old Airport, Ain Khaled, The Pearl, Umm Salal Ali, and Duhail. The only area under the VPI's watch that recorded quarterly capital gains of 1.2 percent was West Bay Lagoon. The Gross yield for houses rose to 6.1 percent, for apartments it was 8.5 percent, and for villas, it was 4.9 percent.

Residential units had an average price-to-rent ratio of 18.1, flats 11.9, and villas 21.3 years. With the installation of 1,600 residential units in the second quarter of 2022, the study states that the residential stock now exceeds 310,000 units.

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