An update on GCC hotel performance:
๐ธ Occupancy continues to slowly improve across key GCC markets, though levels vary drastically.
๐ธ Jeddah & Abu Dhabi have crossed the 50% mark, while Qatar and Riyadh are within a few points of reaching that level.
๐ธ GCC countries remain on many other nationsโ travel advisory lists, which can limit demand from top source markets.
๐ธ Limited flights and routes have increased the cost of airfare to the region โ another limiting factor to international inbound demand.
๐ธ There are some exceptions to the domestic demand base โ Jeddah is the gateway market to Holy Cities, Makkah and Medina, and occupancy has improved since Hajj pilgrimages began on 18 April.
๐ธ The relative rebound to date suggests that once airlift ramps up and travel advisories are lifted, demand recovery should be swift for many markets in the region.