This is supported by new visa processes and enhanced flight connections, stated international industrial actual estate solutions organisation, Colliers International in its most recent information release.
According to information released ahead of the Arabian Travel Market 2018 (ATM), which will be held at the Dubai World Trade Centre from April 22-25, and commissioned by ATM, the Colliers report stated that historically, the Middle East has been the biggest supply marketplace for Oman, with arrivals from this group growing at an annual price of 20 per cent among 2012 and 2017.
These trends have contributed to a spike in businesses searching to enter the Omani tourism marketplace, as demonstrated throughout ATM 2017 when the quantity of attendees interested to do company with the sultanate elevated 13 per cent compared to the 2016 edition of the show. The quantity of attendees from Oman elevated 18 per cent more than the identical period.
Simon Press, senior exhibition director, ATM, stated, “The latest data demonstrates that the growth in visitors to Oman will continue, supported by strategic investment from the government as it turns to tourism to diversify its income streams. Oman is a fantastic destination with responsible eco, cultural and heritage attractions, as well as being a key travel hub, with significant opportunity to capitalise on transit itineraries for stopover visitors.”
Accommodating the predicted influx, a quantity of significant hotel chains have not too long ago announced properties in Muscat, driving the 12 per cent CAGR more than the subsequent 3 years from 10,924 rooms in 2017 to 16,866 in 2021. These consist of Muscat’s initial Novotel a 4-star, 300-space Crowne Plaza and the 304-space JW Marriott, all positioned close to the Oman Exhibition and Convention Centre. Additionally, Starwood is creating a 5-star W Hotel, as component of ongoing perform at the Royal Opera House Muscat. In October 2017, Mövenpick Hotels & Resorts strengthened its Oman expansion method with the announcement of a third house in Muscat, the 370-crucial Mövenpick Hotel Muscat Airport.
Properties by Kempinski and Anantara are also beneath improvement. Leading domestic investment, Oman Hotels and Tourism has committed to developing ten hotels across the nation with a projected worth of US$260mn by 2021. Supply in Muscat is dominated by 5-star properties, accounting for 21 per cent, and 4-star, accounting for 24 per cent.
Press stated, “With strong existing demand from GCC leisure and business travellers, Oman is preparing for even more four- and five-star guests over the coming years as work completes on the Oman Exhibition and Convention Centre. Occupancy could rise by as much as five per cent in 2018, so Oman really is one to watch.”
Information Source: Muscat Daily