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FINANCIAL NEWS
Doha hotel face oversupply risk
08 Dec 2013
(MENAFN) Colliers International reported that Doha hotels face the risk of oversupply as the FIFA World Cup 2022 approaches, Arabian Business reported.
A report by Colliers said: “The announced forthcoming supply of hotels primarily consists of luxury/upscale properties, widening the existing gap in the market for midscale and economy hotels.”
Corporate tourism is the main driver for hotel demand in Doha, which makes up for 65 percent of the total demand in the country, while meetings, incentives, conferences, and exhibitions (MICE) is the second largest segment with eight percent.
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Bank of Bahrain and Kuwait BSC announces the transfer of HSBC Middle East, Bahrain Retail Business to BBK.
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