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Hotels witness soaring revenues and occupancy rates

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MUSCAT: In a remarkable surge, the revenues of 3-5 star hotels in Oman experienced a substantial 23.4% growth, reaching RO 229.2 million by the end of 2023.

This substantial increase, as reported by the National Center for Statistics and Information, showcases a significant uptick compared to the RO 185.7 million recorded at the end of 2022.

Accompanying this surge in revenue was a commendable rise in the occupancy rates of these upscale hotels, reaching an impressive 48.9%. This surpasses the 44.9% occupancy rate observed during the corresponding period in 2022, reflecting a robust performance in Oman's hospitality sector.

The statistics further reveal that the number of guests also experienced a notable upswing, surging to 2.07 million by the close of 2023. This marked an impressive 27.1% increase compared to the 1.62 million guests recorded at the end of 2022. Noteworthy among these guests were Omani citizens, who comprised the largest group with 769.7 thousand visitors. European guests followed closely with 517.2 thousand, while Asian guests numbered 297.2 thousand. Additionally, Gulf guests contributed significantly, totaling 198.4 thousand.

December 2023 witnessed a specific uptick in hotel revenues, soaring to RO 26.7 million compared to RO 25.3 million in October 2023. However, the number of guests in December witnessed a slight decrease to 213.4 thousand, down from 222.6 thousand in October. European guests took the lead during December with 71.3 thousand, followed by Omani guests at 65 thousand, and Asian guests at 32.3 thousand. Gulf guests amounted to 16.2 thousand.

Reflecting on the broader trends, it's noteworthy that the number of hotel guests in 3-5 star establishments was 158 thousand in July 2023, 190.1 thousand in August, 153.2 thousand in September, and 189.2 thousand in October 2023.

As Oman's hospitality sector continues to flourish, these statistics underscore the resilience and attractiveness of the country's 3-5 star hotels, providing a positive outlook for the industry in the coming years.

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