Oman: Revenues of star hotels rise to over $438mln, post 27.8% jump

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Muscat – Revenues of star hotels in Oman showed a significant jump during the ten months of 2023 compared to the same period last year.

The revenues of 3- to 5-star hotels in Oman jumped 27.8% to RO168.328mn till October this year when compared to the figures achieved in the same period last year, the latest data released by the National Centre for Statistics and Information (NCSI) stated.

The average occupancy rate in these hotels was 53.7% in October, an increase of 9.9% compared to October 2022.

The data showed that 2.9mn people visited Oman until the end of September 2023 and 6.2mn departed from Oman during the same period.

According to Fitch Solutions Company’s BMI’s analysis, Oman will touch the 3.5mn mark for international tourists visiting the sultanate till the end of this year. This is a sharp 20.8% increase from 2022.

Going by the current trend, the average annual tourist inflow for the period of 2023 to 2027 is expected to grow by 7.4%.

This growth is attributed to both leisure and commercial tourism, boosted by high oil prices that stimulate domestic investments.

The report suggests that the Middle East will be the primary source of tourists for Oman in 2023, with 1.5mn visitors expected from the region.

According to the United Nations World Tourism Organization (UNWTO), Oman was among the top 20 best performing destinations in the world for tourist arrivals between January and July 2023.

The sultanate ranked 18th in the world (% change against 2019) for the first seven months of 2023.

“According to data from UNWTO, Oman is among the best performing countries in terms of the number of tourists during the first half of this year. Existing and upcoming promotion plans promise record results,” H E Salim bin Mohammed al Mahrouqi, Minister of Heritage and Tourism, recently posted on ‘X’.