Colliers sees Riyadh’s hotel occupancy at 60% in 2021, Jeddah at 50%

Riyadh city

Colliers International said in a report that hotel occupancy rates is likely to reach 60% in Riyadh and 50% in Jeddah during 2021.

Meanwhile, hotel occupancy rate is expected to reach 56% in Al Khobar, 32% in Madinah and 24% in Makkah, the research firm said in its monthly report for MENA hotels in November.

Colliers also pointed out that several markets began to recover starting the fourth quarter of 2020 and through 2021, as COVID-19 pandemic was brought under control and travel restrictions began to ease.

It indicated that in-line and controlled growth is key for recovery, in order for the hospitality segment performance to improve in major markets.

For other Arab countries, Colliers expects hotel occupancy rates in Dubai to reach between 64% and 72%, and 56% in Abu Dhabi.

Meanwhile, hotel occupancy rate is seen reaching 72% in Doha, 43% in Manama and 42% in Muscat.