Leisure & Hospitality Asians and Europeans boost Oman hotel revenue By Pramod Kumar August 30, 2023, 5:34 AM Oman News Agency European tourists surged 44.4 percent to 259,649, while hotel guests from Asian countries stood at 163,779, an increase of 47.1 percent year on year Visitors from Asia and Europe helped to drive strong growth in Oman’s tourism industry in July. Revenues of 3-to-5-star hotels in Oman rose 27.8 percent year on year to OMR122.53 million ($318.25 million) by the end of July 2023. Oman working on $11bn integrated tourism projects Oman tourism goals face an uphill road to success Total hotel guest numbers increased 25.8 percent to 1.09 million during the month, compared with 872,796 in the same period a year ago. Hotel occupancy grew 10.3 percent year on year, state-run Oman News Agency reported, citing data from the National Centre for Statistics and Information. European tourists surged 44.4 percent to 259,649, while hotel guests from Asian countries stood at 163,779, an increase of 47.1 percent year on year. There were 99,947 tourists from GCC countries, rising 19.1 percent annually. Arrivals from the US in July reached 33,420, up 3.3 percent. Last month, Oman granted 19 licences for developing integrated tourism complexes with investments worth OMR4.38 billion ($11.37 billion). Projects worth OMR3.12 billion are in the pre-implementation phase across Muscat, Dhofar, South Al Sharqiyah, South Al Batinah and Musandam governorates. These projects will have 81 hotels, including 16,576 keys, 2,552 apartment hotels and villas, as well as 42,617 housing units.
Markets Oman’s Asyad Group plans IPO of shipping unit Asyad Group, a logistics business owned by Oman’s sovereign wealth fund, has announced plans to float its shipping unit on the Muscat stock exchange. At least 20 percent of Asyad Shipping Company will be sold in the initial public offering. The Asyad IPO will be divided into two tranches. The first is 75 percent of […] 1 hour ago
Video length: 04:02 VIDEO Finance One million users for Saudi Arabia’s Sahm trading app “Riyadh has a population of 8 million. The government is going to double the population. That means money. That means capital,” says Steven Chou, chairman of Saudi-based fintech-driven financial company Sahm Capital. “Local Saudis are keen to look for a new product. They are options lovers,” Chou says, adding that the sectors of interest include […] 53 mins ago In association with
Industry Almarai to increase poultry output by 35% Almarai, the Middle East dairy and food production group, announced plans to increase its poultry output by 35 percent this year as it continues with its multi-billion-dollar expansion plans. The Riyadh company reported fourth-quarter profit of SAR430 million ($115 million), an increase of 16 percent, as revenue rose 4.8 percent to SAR5.15 billion. It announced a […] 1 hour ago
Construction German company to assess proposed Spain-Morocco tunnel A German-owned company has been awarded a contract to conduct a feasibility study on building an undersea railway tunnel between Morocco and Spain, the latest indication that the long-stalled plan could become reality. If built, the tunnel would be one of the longest of its kind worldwide and would make transporting goods and people between […] 2 hours ago
