Hotels - Qatar | Statista Market Forecast

It is forecasted that the Hotels market in Qatar will witness a substantial surge in revenue, with projections indicating a rise to US$526.20m in 2024.
Furthermore, it is expected that this upward trend will continue with an annual growth rate (CAGR 2024-2029) of 2.97%, resulting in a projected market volume of US$609.20m by 2029.
Additionally, the number of users in the Hotels market is expected to reach 1.23m users by 2029, with a user penetration rate of 34.3% in 2024, rising to 43.2% by 2029.
The average revenue per user (ARPU) is expected to be US$560.70.
It is worth mentioning that in the Hotels market sector, 87% of total revenue is expected to be generated through online sales by 2029.
Moreover, in terms of global comparison, United States is expected to generate the most revenue in the Hotels market, with a projected revenue of US$111bn in 2024.
Qatar's hotel market is evolving rapidly with a focus on luxury, innovation and sustainability to attract high-end tourists.

Definition:

The Hotels market includes hotels and professionally-run guest houses. These accommodations can be booked directly via the providers website, through a tour operator, a travel agency, an online travel agency (OTA), or by telephone.

Additional Information:

The main performance indicators of the Hotels market are revenues, average revenue per user (ARPU), users and user penetration rates. Additionally, online and offline sales channel shares display the distribution of online and offline bookings. The ARPU refers to the average revenue one user generates per year while the revenue represents the total booking volume. Revenues are generated through both online and offline sales channels and include exclusively B2C revenues. Users represent the aggregated number of guests. Each user is only counted once per year. Well-known providers are Hotels.com, trivago, and Booking.com.

The booking volume includes all booked travels made by users from the selected region, independent of the departure and arrival. The scope includes domestic and outbound travel.

For further information on the data displayed, refer to the info button right next to each box.

Booked directly via the providers website, through a tour operator, an online travel agency (OTA), a travel agency or by telephone

Private accommodation and holiday flats, private room and accommodation rentals (e.g. Airbnb)

The Hotels market in Qatar is experiencing significant growth and development, driven by various factors shaping the industry in the region.

Customer preferences: Travelers in Qatar are showing a growing preference for luxury and high-end hotel experiences, with a focus on personalized services and unique amenities. This trend is in line with the overall global shift towards experiential travel and the increasing demand for premium accommodation options.

Trends in the market: One notable trend in the Hotels market in Qatar is the expansion of international hotel chains in the country. This trend is fueled by the growing number of tourists visiting Qatar for both leisure and business purposes, leading to an increased demand for diverse accommodation options. Additionally, there is a noticeable rise in the development of boutique hotels and eco-friendly resorts, catering to the preferences of environmentally conscious travelers.

Local special circumstances: Qatar's strategic location as a hub for business and tourism in the Middle East plays a crucial role in shaping the Hotels market in the country. The upcoming FIFA World Cup in 2022 has also been a significant driver of growth, leading to extensive infrastructure development and an influx of visitors. Moreover, the government's initiatives to promote tourism and hospitality sectors are creating favorable conditions for the expansion of the Hotels market in Qatar.

Underlying macroeconomic factors: The strong economic growth and stability in Qatar, supported by the country's robust infrastructure and investment in tourism-related projects, are key macroeconomic factors driving the development of the Hotels market. Additionally, the government's efforts to diversify the economy and reduce dependency on oil revenues are attracting investments in the hospitality sector, further fueling the growth of the market.

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings, revenues, and sales channels of hotels.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market. As a basis for evaluating markets, we use financial reports, the Global Consumer Survey, third-party studies and reports, data from industry associations (e.g., UNWTO), and price data of major players in respective markets. To estimate the number of users and bookings, we furthermore use data from the Statista Consumer Insigths Global survey. In addition, we use relevant key market indicators and data from country-specific associations, such as country-related GDP, demographic data (e.g., population), tourism spending, consumer spending, internet penetration, and device penetration. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, ARIMA, which allows time series forecasts, accounting for stationarity of data and enabling short-term estimates. Additionally, simple linear regression, Holt-Winters forecast, and exponential trend smoothing methods are applied. A k-means cluster analysis allows for the estimation of similar countries. The main drivers are tourism GDP per capita and respective price indices.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.

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