Kuwait Hospitality Market (2009)

Abstract

Kuwait has been on the map of hospitality investment and development since the 1960s. International operators entered Kuwait early where Sheraton Kuwait Hotel & Towers was opened in 1966 in the heart of Kuwait City. Other hotel operators then followed such as InterContinental Hotel Group (IHG), Starwood Hotels, Rotana Hotels, and Accor Hotels. Local hoteliers have built strong relationships with the international operators over the years which made them increase their ties with more brands and hotels in the country. Local hotel operators have also played a role in the Kuwaiti market and gradually expanded beyond the Kuwaiti borders such as Safir International Hotels and Refad Hotels.

The purpose of this report is to exhibit the investment environment in the hospitality sector in Kuwait. The three main factors influencing the hospitality industry are Economy, Real Estate Market, and Tourism Industry. We analyze each factor by showcasing how it contributes positively and/or negatively to the lodging industry in Kuwait. Moreover, the Hospitality Market supply and demand characteristics are studied. Supply was studied in terms of brands, operators, owners, future supply, and quality of the hotels in Kuwait’s six governorates. Demand on the other hand was studied in terms of Average Room Rates (ARR), Average Occupancy Rates (AOC), and Revenue per Available Rooms (RevPAR) of the hotels in the six governorates.

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