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FINANCIAL NEWS
Oman’s hotel sector to witness 63.9% growth: STR Global
17 Feb 2013
(MENAFN) STR Global stated that the hotel sector in Oman is expected to post a growth of 63.9 percent, recording the highest growth in the Middle East and Africa region, reported Arabian Business.
The firm said that the level could be met if only all of the 4,613 rooms in the Sultanate’s total active pipeline open.
The Sultanate is witnessing an influx of tourists and travelers, with total passenger traffic through Muscat International Airport in 2012 expanding by 16 percent from 2011, to over 7.5 million.
According to Omani officials, the growth came as new carriers started their operations in the country, such as IndiGo, Ethiopian Airlines and United Airways of Bangladesh.
STR Global latest report reveals that the hotel development pipeline in the Middle East and Africa area consists of 480 hotels with 118,023 rooms.
It is worth noting that in 2012, the hotel industry in the region saw the introduction of 68 new hotels, comprising 15,735 rooms.
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