hala matar choufany
Africa On The Rise
Hala Matar Choufany | December 20, 2023
By Hala Matar Choufany This year revealed diverse hotel performance trends across Africa’s 54 countries, reflecting the vast expanse and distinctiveness of the continent and emphasizing the regional disparities. Indeed, certain areas saw substantial growth and an uptick in international arrivals, while others grappled with persistent challenges. Hospitality sector performance Northern and southern Africa, home to well-established hospitality markets like Egypt and South Africa, reported slower economic growth rates. In contrast, most countries spanning the Eastern and Western regions experienced accelerated economic growth due to inc...
HVS Global Hotel Industry: 2023 Recap and 2024 Outlook
HVS | December 5, 2023
As 2023 draws to a close, regional HVS leaders across the globe take a look back at how the global hotel industry fared this year and opine on the outlook for next year. While the U.S. experienced muted 2023 RevPAR growth relative to 2022 gains, most other global markets recorded extraordinary RevPAR growth, well above 10%, primarily fueled by strong ADR gains. While transaction activity cooled across the Americas and Europe, the Asia Pacific saw a significant strengthening as this region’s markets moved beyond pandemic-era restrictions. United States By Rod Clough, President – Americas As 2023 ends, we look back on a year where hot...
Navigating the Investment Terrain: Trends in GCC Hotel Development Costs
Hala Matar Choufany | September 26, 2023
By Hala Matar Choufany, Filippo Sona Welcome to the world of hospitality development, where unique developments and unforgettable moments come to life. We are thrilled to introduce you to our latest publication, "Navigating the Investment Terrain: Trends in GCC Hotel Development Costs" where we delve deep into the intricate world of hotel development costs, unveiling the secrets that impact project costs and hotel values. In this joint publication, we outline the main hotel development expenses and recent trends in hotel development and design. Whether you are a seasoned developer, an aspiring hotelier, or simply an enthusiast curious ...
Indisputable Success – The UAE
Maria Quintero | June 21, 2023
By Maria Quintero, Hala Matar Choufany Throughout the last decade, the UAE has established itself as a leading regional and international tourism destination. Over 22 million international visitors in 2022 - almost on par with pre-pandemic levels - along with the UAE’s game-changing infrastructure, year-round sunshine, top-class tourism attractions, and rich cultural heritage, reinstated the country’s positioning as one of the strongest business and leisure markets in the world. As of 2022, UAE, the second largest economy in the Arab world, ranked at the top of the Travel & Tourism Development Index in the MENA region and among ...
How Major Sporting Events Are Spurring Growth in the GCC
Hala Matar Choufany | May 19, 2023
The UAE, KSA and Qatar have been major players in shaping the region’s tourism industry, helping to reposition the region to accommodate millions of tourists who are seeking alternative experiences. The race to reach world-class status did not stop at state-of-the-art buildings, modern legislation, FDIs and ease of setting up businesses in a stable environment. The desire to differentiate these destinations and offer exceptional tourist experiences was witnessed at the Expo 2020 event in Dubai, as well as Qatar being awarded the 2022 World Cup and the Kingdom of Saudi Arabia securing the Olympic Asian Winter Games in 2029. Such events have ...
Evolution of Hotel Management Agreements and Rise of Alternative Agreements
Hala Matar Choufany | September 29, 2020
By Hala Matar Choufany and Ersin Yildirim Hotels are complicated investments and therefore selecting an appropriate hotel agreement for a property requires exhaustive research and investigation by an investor. The choice of an operator as well as the hotel operating agreement has a significant impact on the cashflow and the potential value of the property. Hotels and the hospitality market are constantly evolving as a result of brands consolidating, owner profiles changing, technology disruption, changing traveler behavior as well as hotel investment trends altering. The 2019 HVS Middle East Valuation Index highlighted declining hote...
Multi-Year Recovery Along With New Opportunities for the Travel and Hospitality Sector, Predicts HVS Global Leadership
HVS | September 10, 2020
DENVER, CO, September 10, 2020: HVS senior management across the globe hosted a webinar on September 8, 2020, to offer expert perspectives on key hospitality topics including how the COVID-19 pandemic has affected their respective regions and the kind of recovery hoteliers can anticipate, as well as the long-term changes the sector is likely to experience. Opened by CEO Stephen Rushmore and moderated by HVS London Chairman Russell Kett, the webinar also included a straw poll, in which 51% of the over 1,800 global participants said they expected RevPAR (rooms revenue per available room) to return to pre-COVID-19 levels during 2023, wit...
COVID-19 “The Hefty Guest”
Hala Matar Choufany | April 23, 2020
And… Suddenly, while we were projecting growth in the MEA region and applauding the ongoing efforts of governments in developing further the tourism infrastructure, improving accessibility, attracting local and foreign investments and easing off travel restrictions, we wake up to a new reality, a serious and destructive threat, and a force that is beyond imagination that will shape our future. An unexpected hefty guest checks-in that will undoubtedly leave behind significant losses and a drastic change to the traditional travel and tourism landscape. As we digest the current changes, adapt to the new norms of confining to the borders ...
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