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FINANCIAL NEWS
GCC hospitality market to increase by 7.6pct
24 Aug 2016
(MENAFN) The GCC hospitality market will increase by 7.6 percent CAGR from USD25.4bn in 2015 to USD36.7bn in 2020, despite slowdown in this year.
Accordingly, the key operating metrics of the sector is predicted to maintain under pressure in the short-term, basically in the UAE and Qatar.
Additionally, occupancy rates at hotels and serviced departments will grow by 3 percentage points to 70 percent and Average Daily Rate to grow at 1.4 percent.
Meanwhile, the markets of Qatar and the UAE are expected to show the fastest annualized growth of more than 10 percent from 2015 to 2020.
More News
17 Sep 2025
BBK and CrediMax launch exclusive offers for customers in collaboration with The Ritz-Carlton, Bahrain
31 Aug 2025
BBK announces an exceptional 6-month grace period financing campaign for Personal and Car Finance customers
13 Aug 2025
BBK’s BD 5,000,000 Al Hayrat scheme awards BD 680,000 to 390 Al Hayrat winners in August and September
04 Aug 2025
HM the King’s Support for Youth is an Inspirational Model for Their Empowerment Journey
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
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