Page 44 - Kuwait-Three-Years-Business-Outlook-2019-2020-2021

STR Insights
April YTD Results 2019
Kuwait is the only key market in
the GCC with negative hotel
demand for 2019 so far as the
accompanying chart shows. A
tough beginning to the year was
expected as 2018 set a relatively
high benchmark for the same
period with quite a few events and
the related government spending
involved.
* STR’s Profitability Report sample in Kuwait currently consists of 15 hotels. For more information or if you wish to participate with your hotel please contact profitability@str.com
Regionally, demand is growing
fast. Beirut is rebounding with
demand at +19.2% following the
lifting of the travel ban from Saudi
Arabia. Qatar, Riyadh and
Manama follow close with At the same time hotel rooms
supply is also growing. The only
similarly high growth rates. Qatar market with supply growing faster
continues to rebound as it is
than demand in 2019 is Dubai
successfully attracting demand which is adding further pressure
from alternative source markets,
mainly in Asia. Manama has seen to hotel performance.
an uplift in corporate demand
following the discovery of a large
oil and gas field off its coast in
April last year.
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