The travel and tourism sector has been hit hardest by coronavirus, as governments continue to introduce measures to slow the spread of the virus. Hotel owners are also taking precautions as travel comes to a halt. Considering the potential impact of COVID-19 on hotel performance, this publication has been prepared by Colliers International, providing 2020 and 2021 hotel occupancy forecasts for 24 submarkets in key MENA hospitality markets.
There is a lot of uncertainty in the market regarding the expected performance of hotels. Based on Colliers MENA Hotel Market Survey results, the forecast assumes the recovery to start in Q4 2020 and continue in 2021.