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Hotel occupancy in Mecca and Medina expected to be higher than expected for 2022: Colliers

Hotel occupancy forecasts for Makkah and Madinah in 2022 have risen by 10.5 and 17 percentage points respectively after the lifting of two years of COVID-19 restrictions in the hospitality sector, according to the July 2022 Colliers report.

The property management and investment company estimates that after the long-awaited return of Hajj, hotel occupancy rates in Mecca are now expected to rise by 106% from last year, reaching 52. % occupancy.

Similarly, Medina is considering an 80% increase, reaching 61% occupancy.

By contrast, Sharm el-Sheikh, Alexandria and Doha saw declines of 9.2, 6.9 and 4.6 percentage points respectively from their previous occupancy forecasts.

Additionally, Saudi Arabia’s booming oil market has increased business demand in the Alkhobar and Dammam regions, with occupancy levels expected to reach 59%.

In the United Arab Emirates, hotel occupancy rates increased significantly between October 1, 2021 and March 31, 2022 alongside the Expo 2020 event that took place in Dubai.

Although Qatar experienced a decline in its hotel market in the first half of 2022, this is expected to change with the 2022 FIFA World Cup, where hotel occupancy in Doha is expected to reach 70% by the end of the year, a decrease of 3%. compared to 2021.

The World Cup is expected to have a positive impact on UAE hospitality markets as spectators decide to stopover in Dubai or Abu Dhabi, Colliers predicted.

Unlike Sharm el-Sheikh and Alexandria, occupancy rates in Cairo and Hurghada are expected to reach 69 and 59 percent respectively this year, up 19 and 11 percent respectively year-on-year.

Additionally, other countries in the region such as Jordan and Oman are also expecting to see higher hotel occupancy rates in the second half of 2022.