UK foreign travelers comprise a significant source market for countries all over the world who are trying to increase visitation to their shores. Overall, according to the Office of National Statistics CONS), there were 70.8 million visits overseas by UK residents in 2016, a record number since the International Passenger Survey CIPSl survey began tracking such data back in 1961. In terms of room nights abroad, UK residents are reported to have spent 731 million nights abroad in 2016, an increase of 7% when compared to 2015.
UK foreign travelers comprise a significant source market for countries all over the world who are trying to increase visitation to their shores. Overall, according to the Office of National Statistics CONS), there were 70.8 million visits overseas by UK residents in 2016, a record number since the International Passenger Survey CIPSl survey began tracking such data back in 1961. In terms of room nights abroad, UK residents are reported to have spent 731 million nights abroad in 2016, an increase of 7% when compared to 2015.
The global travel industry is growing, led by the Asian travellers. The outbound Indian travel market is expected to grow to 50 million by 2021 according to UNWTO reports . The average spending per trip by Indian travellers have also increased. According to UNWTO, India is among the top 12 source markets that showed double digit growth in expenditure in 2016. With over 65 million passport holders in India, it is expected that its outbound travel growth will be driven by the middle-income households rather than the higher-income as the middle-income households are expected to grow to nearly 20 percent (58 million) of the total households by 2021 while higher income will represent just less than 3 percent (6.5 million).
The global travel industry is growing, led by the Asian travellers. The outbound Indian travel market is expected to grow to 50 million by 2021 according to UNWTO reports . The average spending per trip by Indian travellers have also increased. According to UNWTO, India is among the top 12 source markets that showed double digit growth in expenditure in 2016. With over 65 million passport holders in India, it is expected that its outbound travel growth will be driven by the middle-income households rather than the higher-income as the middle-income households are expected to grow to nearly 20 percent (58 million) of the total households by 2021 while higher income will represent just less than 3 percent (6.5 million).
According to the World Tourism Organization CWTO"), sustainable tourism is "tourism that takes full account of its current and future economic, social, and environmental impacts, addressing the needs of visitors, the industry, the environment and host communities." It involves the participation of all relevant stakeholders, as well as strong political decision-making to ensure wide participation and consensus building.
According to the World Tourism Organization CWTO"), sustainable tourism is "tourism that takes full account of its current and future economic, social, and environmental impacts, addressing the needs of visitors, the industry, the environment and host communities." It involves the participation of all relevant stakeholders, as well as strong political decision-making to ensure wide participation and consensus building.
3-Month Rolling Forecast Highlights Nov 2017 - Jan 2018 | YoY RevPAR Variance %
3-Month Rolling Forecast Highlights Nov 2017 - Jan 2018 | YoY RevPAR Variance %
At present. 84% of branded supply in Cairo is in the 5-star category. This is expected to increase as new 5-star supply comes online. such as the St. Regis Cairo. which is expected to open in December 2017.
At present. 84% of branded supply in Cairo is in the 5-star category. This is expected to increase as new 5-star supply comes online. such as the St. Regis Cairo. which is expected to open in December 2017.
There have been a number of recent reports and articles that schools in Dubai are expected to struggle to attract new students, will have difficulty maintaining current enrollment levels and that some schools may even close. Much of the commentary is based on the cost of education in the UAE.
Saudi Arabia Q2 2017 Review, 5 Key Cities.
Saudi Arabia Q2 2017 Review, 5 Key Cities.
Egypt is the most populous Arab country in the world with 94.7 million residing in Egypt and 9.5 million living abroad. With a population growth rate of 2.2% per annum, this will continue to fuel demand for infrastructure services with a direct impact on the evolving urban landscape. Greater Cairo, which includes Giza, Cairo and 6th October City, is home to almost 17.2 million population.
Egypt is the most populous Arab country in the world with 94.7 million residing in Egypt and 9.5 million living abroad. With a population growth rate of 2.2% per annum, this will continue to fuel demand for infrastructure services with a direct impact on the evolving urban landscape. Greater Cairo, which includes Giza, Cairo and 6th October City, is home to almost 17.2 million population.
3-Month Rolling Forecast Highlights Oct 2017 - Dec 2017 | YoY RevPAR Variance %
3-Month Rolling Forecast Highlights Oct 2017 - Dec 2017 | YoY RevPAR Variance %
Overall, the Abu Dhabi and Dubai spa market demonstrated stable performance in H1 2017. Key performance indicators have remained steady over the last three years, indicating a maturing spa market capable of absorbing new supply and a bright outlook for the remainder of 2017.
This paper discusses the hotel development process beyond the execution of the hotel management agreement. The paper will focus on the sub-Saharan African countries and will assess the hotel development process, the role of the hotel operator, common challenges and recommended solutions to overcome the these challenges. In September 2016, Colliers had published "The True African Opportunity", which explored the opportunities for hotel development in sub-Saharan Africa; and in this paper Colliers has moved a step further by examining how to successfully execute the hotel development process. especially once the management agreement has been signed.
3-Month Rolling Forecast Highlights Sep 2017 - Nov 2017 | YoY RevPAR Variance %
3-Month Rolling Forecast Highlights Sep 2017 - Nov 2017 | YoY RevPAR Variance %
Colliers MENA Hotel Price Index provides an estimate of asset prices for hotels across selected key cities in the region. In each of the cities. we provide asset price estimates for 5 and 4 star hotels. in both the primary and secondary markets.
3-Month Rolling Forecast Highlights Aug 2017 - Oct 2017 | YoY RevPAR Variance %
3-Month Rolling Forecast Highlights Aug 2017 - Oct 2017 | YoY RevPAR Variance %
A number of high profile properties streamed the market since 02 2016, including the Steigenberger El Tahrir, Westin Cairo Golf Resort and the recently re-opened Sheraton Cairo Hotel & Casino. The recent 5-Star hotel additions reinstates the city's growing opportunity for midmarket hotels.
84% of branded supply is currently in the 5-star category, representing an opportunity for quality mid-market hotels to enter the market.
A number of high profile properties streamed the market since 02 2016, including the Steigenberger El Tahrir, Westin Cairo Golf Resort and the recently re-opened Sheraton Cairo Hotel & Casino. The recent 5-Star hotel additions reinstates the city's growing opportunity for midmarket hotels.
84% of branded supply is currently in the 5-star category, representing an opportunity for quality mid-market hotels to enter the market.
Saudi Arabia Q2 2017 Review, 5 Key Cities.
Saudi Arabia Q2 2017 Review, 5 Key Cities.
3-Month Rolling Forecast Highlights Jul 2017 - Sep 2017 | YoY RevPAR Variance %
3-Month Rolling Forecast Highlights Jul 2017 - Sep 2017 | YoY RevPAR Variance %
3-Month Rolling Forecast Highlights June 2017 - Aug 2017 | YoY RevPAR Variance %
3-Month Rolling Forecast Highlights June 2017 - Aug 2017 | YoY RevPAR Variance %
To understand how social infrastructure adds value to mixed-use developments, analyse its’ price points. What does a Waitrose supermarket, water views and high performing schools have in common? They all contribute to attracting price premiums on property values.
Dubai has the highest average price per key amongst the 21 cities in the MENA region at 446k USD - an increase of 4k USD on Q4 2016. Dubai's hotel performance is consistently among the best in the world alongside some of the key global cities such as New York, Paris, Singapore, Hong Kong and London.
3-Month Rolling Forecast Highlights May 2017 - Jul 2017 | YoY RevPAR Variance %
3-Month Rolling Forecast Highlights May 2017 - Jul 2017 | YoY RevPAR Variance %
Ras Al Khaimah CRAK), the fourth largest and northern most emirate of the United Arab Emirates, has experienced rapid economic growth in recent years. Tourism is one of Ras Al Khaimah's most important economic sectors and is considered a key engine for continued GDP growth and job creation. The current edition of the publication includes key updates from the previous issue, Ras Al Khaimah - The Emirate of Opportunities, paying particular attention to the growing beach resort market.
2017 is expected to see the opening of the anticipated St. Regis Cairo and Radisson Blu Nasr City, and the re-opening of the Sheraton Cairo Hotel & Casino. This represents a 10% increase in total branded supply within the city. 84% of branded supply is currently in the 5-star category, representing an opportunity for mid-market hotels to enter the market. Marriott International and Accor remain the key international players with over 5,000 keys combined.
2017 is expected to see the opening of the anticipated St. Regis Cairo and Radisson Blu Nasr City, and the re-opening of the Sheraton Cairo Hotel & Casino. This represents a 10% increase in total branded supply within the city. 84% of branded supply is currently in the 5-star category, representing an opportunity for mid-market hotels to enter the market. Marriott International and Accor remain the key international players with over 5,000 keys combined.
Saudi Arabia Q1 2017 Review, 5 Key Cities.
Saudi Arabia Q1 2017 Review, 5 Key Cities.
3-Month Rolling Forecast Highlights Apr 2017 - Jun 2017 | YoY RevPAR Variance %
3-Month Rolling Forecast Highlights Apr 2017 - Jun 2017 | YoY RevPAR Variance %
Healthcare systems and facilities continue to improve across the region with investors and operators introducing new trends and standards to improve and enhance healthcare services in the region. In Saudi Arabia, the healthcare market is growing thanks to the convergence of three factors; demand from a growing population base, an increasing elderly population and the rapid growth of the private insurance healthcare market.
Like many industries and property sectors, the compounds sector in KSA has not been immune to the current economic downturn; a direct consequence of the drop in oil prices, which has affected many facets of the economy, particularly larger firms in oil & gas and construction related industries.
The Abu Dhabi & Dubai Spa Benchmark Report focuses on analysing fourteen spa performance metrics, based on data received directly from a panel of spa operators.
In 2016, Chinese tourists spent an estimated USD 289 billion abroad, a 42% jump over 2014 figures. The Chinese tourist is single-handedly improving countries' tourism industries (examples include Australia, Japan, and Iceland). Chinese tourists are today exhibiting a greater propensity for travel abroad, and have even travelled during slow economic times, positioning them as a reliant source market, constantly generating inflows.
Chinese and Indian travellers have been recognized as the mega source markets for outbound tourism globally. Although neighboring countries, they have distinctively different cultural and behavioral patterns influencing their travel and spending patterns. Understanding and catering to these cultural and behavioral patterns can help the GCC countries to attract them.
Culture tourism is multifaceted, and involves sharing the destination country's local traditions, history, art, music, cuisine, literature and religion. This may involve a wide range of activities from visiting historic sites, monuments and exhibitions, attending festivals and performances to participating in traditional cooking classes, dances and going on a safari.
Culture tourism is multifaceted, and involves sharing the destination country's local traditions, history, art, music, cuisine, literature and religion. This may involve a wide range of activities from visiting historic sites, monuments and exhibitions, attending festivals and performances to participating in traditional cooking classes, dances and going on a safari.
The retail industry is one of the fasting growing sectors in the region, with UAE as one of the major players in the region, attracting a large number of visitors due to its wide offering. Evolving consumer lifestyles and a growing number of tourists have benefited the retail sector. Dubai has set high standards for all GCC cities, which also aim to expand their retail and leisure tourism offerings.
The retail industry is one of the fasting growing sectors in the region, with UAE as one of the major players in the region, attracting a large number of visitors due to its wide offering. Evolving consumer lifestyles and a growing number of tourists have benefited the retail sector. Dubai has set high standards for all GCC cities, which also aim to expand their retail and leisure tourism offerings.
Kuwait's hospitality industry is an evolving one. At present, demand is predominately from the corporate segment, which accounts for approximately 70% of total hotel demand in the market. In a bid to evolve tourism in Kuwait, the state is taking efforts to develop the leisure and medical tourism markets, with several new developments in the pipeline. According to reports, the Kuwait government intends to spend USD 1 billion for promoting tourism over the years up to 2025. The government also plans to setup the 'Supreme Commission for Tourism' to initiate its tourism strategy.
Kuwait's hospitality industry is an evolving one. At present, demand is predominately from the corporate segment, which accounts for approximately 70% of total hotel demand in the market. In a bid to evolve tourism in Kuwait, the state is taking efforts to develop the leisure and medical tourism markets, with several new developments in the pipeline. According to reports, the Kuwait government intends to spend USD 1 billion for promoting tourism over the years up to 2025. The government also plans to setup the 'Supreme Commission for Tourism' to initiate its tourism strategy.
Colliers MENA Hotel Price Index provides an estimate of asset prices for hotels across 21 key cities in the region. In each of the cities, we provide asset price estimates for 5 and 4 star hotels, in both the primary and secondary markets.
3-Month Rolling Forecast Highlights Mar 2017 - May 2017 | YoY RevPAR Variance %
3-Month Rolling Forecast Highlights Mar 2017 - May 2017 | YoY RevPAR Variance %
The Second /Holiday Home market in Egypt is dominated by residents living in Cairo and non-resident Egyptians. Whilst the market is currently undersupplied there are opportunities to introduce new real estate products within the second home market that can improve absorption/ occupancy levels and price premiums.
The Second /Holiday Home market in Egypt is dominated by residents living in Cairo and non-resident Egyptians. Whilst the market is currently undersupplied there are opportunities to introduce new real estate products within the second home market that can improve absorption/ occupancy levels and price premiums.
Doha has seen an influx of more than 1.300 keys over the last one year, primarily in the 5-star segment. New hotel openings in 04 2016 include Intercontinental Residence (82 units) and AlRayyan, Curio Collection (201 keys).
Branded supply is expected to increase by a CAGR of 18% from 2017 to 2019. While significant supply is expected to enter the 5-star and 4-star segments over the next few years, some delays are expected, which leaves more time for the market to absorb the new supply.
Doha has seen an influx of more than 1.300 keys over the last one year, primarily in the 5-star segment. New hotel openings in 04 2016 include Intercontinental Residence (82 units) and AlRayyan, Curio Collection (201 keys).
Branded supply is expected to increase by a CAGR of 18% from 2017 to 2019. While significant supply is expected to enter the 5-star and 4-star segments over the next few years, some delays are expected, which leaves more time for the market to absorb the new supply.
3-Month Rolling Forecast Highlights Feb 2017 - Apr 2017 | YoY RevPAR Variance %
3-Month Rolling Forecast Highlights Feb 2017 - Apr 2017 | YoY RevPAR Variance %
A number of high profile properties streamed the market in 2016, including the Steigenberger El Tahrir, Westin Golf Resort, Katameya Dunes and the Nile Ritz Carlton resulting in a 3% increase in hotel supply over the previous year. 2017 is expected to see the opening of the anticipated St. Regis Cairo, further widening the gap between the 5-Star segment and quality affordable lower tier hotels.
A number of high profile properties streamed the market in 2016, including the Steigenberger El Tahrir, Westin Golf Resort, Katameya Dunes and the Nile Ritz Carlton resulting in a 3% increase in hotel supply over the previous year. 2017 is expected to see the opening of the anticipated St. Regis Cairo, further widening the gap between the 5-Star segment and quality affordable lower tier hotels.
Oman's tourism industry has experienced a strong growth over the past few years, and this is expected to continue as the government is investing heavily on tourism and other related infrastructure to diversify its income.
Although the country faces significant competition from other popular regional destinations, Oman has been able to distinguish itself as a unique tourism hub, being home to many eco, cultural and heritage (including 4 UNESCO World Heritage Sites) attractions.
Oman's tourism industry has experienced a strong growth over the past few years, and this is expected to continue as the government is investing heavily on tourism and other related infrastructure to diversify its income.
Although the country faces significant competition from other popular regional destinations, Oman has been able to distinguish itself as a unique tourism hub, being home to many eco, cultural and heritage (including 4 UNESCO World Heritage Sites) attractions.
The Saudi hotel market is predominantly driven by corporate room nights, especially in the capital Riyadh where leisure currently only accounts for 12% of demand. Following the announcement of Saudi Vision 2030 and with the objective to increase tourism's role, it is expected that there will be an increased focus on leisure, religious and domestic tourism.
The Saudi hotel market is predominantly driven by corporate room nights, especially in the capital Riyadh where leisure currently only accounts for 12% of demand. Following the announcement of Saudi Vision 2030 and with the objective to increase tourism's role, it is expected that there will be an increased focus on leisure, religious and domestic tourism.
Saudi Arabia Full-Year 2016 Review, 5 Key Cities
Saudi Arabia Full-Year 2016 Review, 5 Key Cities
The UAE saw continued strong growth in tourism demand in 2016, building on its strong fundamentals, and a growing variety of hotel supply. In this market snapshot, UAE's hospitality markets are analysed, comparing performance, supply breakdown and pipelines.
The UAE saw continued strong growth in tourism demand in 2016, building on its strong fundamentals, and a growing variety of hotel supply. In this market snapshot, UAE's hospitality markets are analysed, comparing performance, supply breakdown and pipelines.
3-Month Rolling Forecast Highlights Jan 2017 - Mar 2017 | YoY RevPAR Variance %
3-Month Rolling Forecast Highlights Jan 2017 - Mar 2017 | YoY RevPAR Variance %
With Vision 2030 identifying the potential for entertainment and cultural development, and with significant growth forecast in domestic tourism, is Saudi Arabia set to see an unprecedented growth in its leisure and cultural offer?
