As 2023 ends, regional HVS leaders across the globe take a look back at how the global hotel industry fared this year. Overall, operating metrics shined brightly, with revenue growth achieved in most global markets, while investment activity cooled. The investment market is expected to improve in 2024.
Over the past decade, the GCC region has transformed from a business destination to an experiential one, evidenced by an increase in international arrivals, private investments and government visions, initiatives and developments. Hala Matar Choufany, president for HVS Middle East, Africa and South Asia, and managing partner of HVS Dubai, outlines the market developments and what’s on the horizon.
The Middle East consists of a diverse range of hotel markets that are stimulated by varied segments of the demand and investment sphere. Hala Matar Choufany, president of HVS Middle East, Africa and South Asia, gives us an in-depth look at where the region’s hotel industry stands and what’s likely to unfold in 2022.
Hala Matar Choufany is discussing with Khalid Anib, Bani Haddad and Christophe Landais at AHIC on the Road, about the evolution of different type of hotel agreements as well as the journey to the alternative management.