Host of multiple events, Qatar’s hotel industry saw its highest December occupancy on record, according to preliminary data from CoStar.
CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
December 2024 saw an increase of 8.5 per cent occupancy levels over the same period in 2024, reaching 78.5 per cent. Average daily rate grew 15 per cent to reach QAR489.03 and revenue per available room (RevPAR) increased almost 25 per cent to QAR384.02.
Qatar’s daily occupancy levels peaked on Sunday, December 1 with 91.9 per cent, which was the final night of the Grand Prix race. The race pushed ADR and RevPAR levels to QAR619.18 and QAR568.95, respectively – the second highest levels posted that month.
Both ADR and RevPAR peaked on New Year’s Eve at QAR663.56 and QAR606.98, respectively.
Qatar also hosted the FIFA International Cup 2024 Finals on December 18, which pushed performance: occupancy (80.8 per cent), ADR (QAR488.89) and RevPAR (QAR394.91).