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FINANCIAL NEWS
Oman’s tourism sector to grow 8 percent
20 Nov 2013
(MENAFN) The Sultanate’s tourism industry will experience an annual growth rate of 6 to 8 percent until 2017, according to experts who gathered at the regional briefing on Oman, organized by the Arabian Hotel Investment Conference, Times of Oman reported.
The director and head of Hotels in Mena for Colliers International, citing a study published by his company titled ‘Oman, Muscat: Economy Hotel Market Gap, says Oman continues to develop as a tourist destination by investing in large scale projects which contribute to building the ‘Oman Brand’.
“The majority of economy hotels in Oman are either locally branded or unbranded, many of which are not purpose built and of a limited size. Due to the fragmented nature of the market, hotel apartments and guest houses tend to compete with the economy hotel market, as there is a lack of differentiation between the two products from a consumer standpoint,” Sona, director and head of Hotels in Mena for Colliers International said.
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