While East Africa’s travel, tourism and hospitality sectors have faced various challenges in recent years, there are encouraging signs of growth, as Hala Matar Choufany, president - HVS Middle East, Africa and South Asia, points out.
Year-to-date 2023 market occupancy Canada wide has surpassed 2019 year-over-year at 67.5% vs. 66.9 % in 2019.
Average Daily Rate continues to hold with more than a 20% premium resulting in RevPAR growth over 2019 of almost 22%!
Watch Hala Matar Choufany's discussion about the region's development of hotels, the existing challenges, and opportunities, at the 2023 Future Hospitality Summit
Following the aftermath of hosting the 2022 FIFA World Cup, Qatar is looking to maintain the level of attention its travel and tourism industry received. With future events planned and a long-term vision, the country is actively working to diversify and strengthen its brand to keep up with its neighboring competitors.
Phoenix has exploded in growth over the last decade, developing a diverse and welcoming economy that has allowed the city and surrounding communities to outperform other top-25 markets.
Strategic master plans and reforms point to a growing appetite for hospitality investment and development across the GCC, bringing opportunities to benefit from attractive returns and contribute to the growth and diversification of regional economies. Hala Matar Choufany, president, HVS Middle East, Africa and South Asia, maps out the openings and challenges, and crunches the numbers.
HVS publication In Focus Singapore 2023 provides an overview of Singapore’s economic outlook, infrastructure development, tourism landscape and hotel market performance, hotel transactions and investment in 2022, COVID-19 situation and outlook.
Following the impacts of the COVID-19 pandemic, Milwaukee is positioning itself as a sought-after destination for major events and continued economic growth. With a strong lineup of events, including the Republic National Convention in 2024, and ongoing developments in the city, Milwaukee's hotel market is set for a prosperous future.
Jordan has become a popular travel destination in the Middle East. It was ranked the sixth Arab country in the 2022 Travel and Tourism Development Index and listed within the top 10 tourist destinations in 2023 by the US Tour Operator Association. Maria Quintero, HVS’ associate – consulting and valuation, provides insights into Jordan’s success and the factors that make it an appealing choice for travelers worldwide.
The Eagle Ford Shale, America's second-largest shale field, has faced rising costs, a frenzy of mergers and acquisitions, and recessionary concerns since late 2022. Nevertheless, natural gas and oil production, as well as hotel performance and transactions, have increased in the market.