UAE - Mubasher: The UAE hotel market is expected to record an average improvement of 12% during 2022, compared to the levels of performance in 2021, according to Colliers' MENA Hotel Forecast November 2021 report.
The commercial real estate services provider predicted that Expo 2021 would have a positive impact on all markets in the UAE.
In Dubai, Dubai Creek/ Festival City and Sheikh Zayed Road / DIFC are expected to record occupancy rates of 76% and 74% in 2022, respectively, up from 18% and 16% year-on-year (YoY), respectively.
Meanwhile, Dubai's Palm Jumeirah and Dubai Marina / JBR would witness occupancy rates of 78% and 80% next year, respectively, with an increase of 16% and 10% YoY.
Abu Dhabi Beach, Ras Al Khaimah, and Sharjah are projected to achieve hotel occupancy rates of 61%, 70%, and 69% in 2022, respectively.
Colliers' report referred that most of the markets in MENA are predicted to approach demand parity in 2022 with 2019 levels of performance.
