Dubai Tourism

GCC Hospitality Industry to sustain its growth momentum, says Alpen Capital

News   •   Sep 24, 2014 10:20 GMT

ALPEN CAPITAL: Alpen Capital today announced the publication of its GCC Hospitality Industry report. The report focuses on the key performance indicators of the GCC region’s hospitality industry, such as number of hotel rooms, ADR (average daily rate), occupancy rates, RevPAR (revenue per available room), growth rates, and the industry outlook over the next five years. The GCC hospitality industry is expected to grow at an annual rate of 9.5% to US$ 35.9 billion by 2018 compared to US$ 22.8 billion in 2013. Average occupancy rates are likely to be in the range of 68% and 74% between 2013 and 2018 while ADR is likely to average between US$ 225 and US$ 263 during the same period.