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FULL YEAR
REVIEW
FULL YEAR | 2018
2 Quarter 4 2018 | MENA
MENA Full Year Review | Colliers International
CONTENTS
5 Egypt
Cairo
Alexandria
Sharm El Sheikh
Hurghada
7 Manama, Bahrain
7 Muscat, Oman
7 Amman, Jordan
3
Multiple new brands enter the MENA market in Saudi E-visa launches through dedicated
2018 ‘Sharek’ portal
2018 witnessed the arrival of several new brands into While limited in scope to sporting tournaments,
the MENA region such as; Caesars Palace, Voco, Edition competitions and programs, the ‘Sharek’ portal offered
Hotels, Element Hotels by Westin, Motto by Hilton and sports enthusiasts the opportunity to attend the Formula
OYO. Positioned at different scales the new brands are E race in Riyadh. Visitors were able to obtain a the
expected to offer unique value propositions to hotel required visa without visiting an embassy. The portal
investors and guests. provided a trial run for the expected rollout of an e-visa
system for tourists in the future.
Dubai International Airport (DXB) keeps rank as Oman targets September 2019 for the
the busiest international airport implementation of VAT
DXB retained its title as the busiest airport in the world The Ministry of Finance in Oman has announced that
for international travel in 2018 for the fifth consecutive VAT rollout may begin in September 2019, however, the
year after reaching 89.1 million passengers amidst a date is currently under review. The implementation of
slowing global economy that affected growth in VAT will be the second occurring in 2019 for the GCC,
passenger movement. In December 2018, DXB with Bahrain implementing VAT in January 2019. The
witnessed the arrival of its one billionth passenger. UAE and KSA were the first GCC countries to implement
VAT in January 2018.
4 Quarter 4 2018 | MENA
MENA Full Year Review | Colliers International
Dubai Abu Dhabi Sharjah Ras Al Khaimah Fujairah An additional 34,500 hotel keys is
Source: Colliers International expected to enter the UAE market
Note: Includes only branded hotel supply; takes into account potential cancellations and delays
over the next three years.
Year–on-Year % Change in Supply
Rate compression is expected to
continue in 2019 for most markets in
the UAE with increasing arrivals from
price-sensitive source markets.
EGYPT
FY 2018 was the second year in a row with improved performance for each market
in Egypt.
Sharm El Sheikh and Hurghada experienced over 20% improvement in demand and
occupancy in 2018, however a slower rate of growth is expected in 2019 for both
markets.
Cairo Alexandria Sharm El Sheikh Hurghada Old projects are expected to gain
Source: Colliers International new life as the market is once more
Note: Includes only branded hotel supply; takes into account potential cancellations and delays
able to support new developments.
Year–on-Year % Change in Supply
The Egyptian hotel market is
forecasted to expand its total key
supply by 2% annually between 2019
and 2021.
James Wrenn
Senior Manager | Hotels MENA Region
+971 55 736 6767
James.wrenn@colliers.com
In MENA, Colliers International has provided leading advisory services through its regional offices since 1996.