Qatar Hotel Industry Experiences Record Growth Due to Major Events
Qatar's hotel industry reported significant growth in November, driven by major events such as the Formula 1 Grand Prix and the Doha Film Festival. According to preliminary data from CoStar, the occupancy rate reached 83.9%, marking a 0.5% increase from the previous year. The average daily rate (ADR) rose by 19.6% to QAR578.58, while revenue per available room (RevPAR) increased by 20.3% to QAR485.26. The highest ADR and RevPAR were recorded on November 28, coinciding with the opening night of the Formula 1 Grand Prix. These figures represent the highest performance metrics since the World Cup in December 2022. Throughout November, daily occupancy levels consistently remained above 70%. 
