Skip to content Skip to Search
Skip navigation

Oman’s hotel revenues surge 121.4% in H1 2022

Creative Commons

Revenues of hotels in Oman surged 121.4 percent year-on-year to reach 83.36 million rials ($217 million) by the end of June 2022 year-on-year (YoY), state-owned Oman News Agency reported, citing the National Centre for Statistics and Information.

The number of guests in the three and five-star hotel categories increased 44.6 percent YoY in the first half of 2022 to reach 770,000. The occupancy rate reached 25.1 percent.

GCC guests recorded the biggest growth of 875.7 percent to reach 61,863 by the end of June 2022 compared to 6,340 in the previous year.

Europeans came second with an increase of 756 percent YoY to 185,297 during the same period.

Americans visiting the Gulf country rose 199.9 percent YoY to 27,281, while the number of Asian visitors rose 21.4 percent YoY to 92,637 by the end of June 2022, the report noted.

Latest articles

Qatar commits $11bn for French startups and funds

Qatar will invest €10 billion ($10.9 billion) in French startups and investment funds as part of a new strategic partnership. The announcement was made in a French-Qatari joint communique released during Qatar Emir Sheikh Tamim Bin Hamad Al Thani’s state visit to Paris. The investments will focus on energy transition, semiconductors, aerospace, artificial intelligence, health, […]

Aramco's 40 agreements cover the supply of a range of products comprising strategic commodities

Aramco invests $6bn to bolster local supply chain

Saudi Aramco, the world’s largest oil producer, has signed 40 corporate procurement agreements worth $6 billion to boost its localisation programme. The agreements cover supply of a range of products comprising strategic commodities, such as instrumentation and electrical and drilling equipment. The move will strengthen Aramco’s domestic supply chain ecosystem, providing suppliers with long-term demand […]

Sabic said better conditions in its agriculture and automotive businesses are supporting its margins

Sabic reports loss of $747m as product prices tumble

Petrochemicals major Saudi Basic Industries Corporation (Sabic) reported a net loss of SAR2.8 billion ($747 million) in 2023, as average product sales fell by a fifth. The losses were also driven by the discontinuation of operations at Hadeed, its steel manufacturing subsidiary, which resulted in a loss of around SAR4 billion. In September 2023, Sabic […]

Masdar starts work on two UK battery storage projects

Masdar Arlington Energy, a subsidiary of UAE’s Masdar, has started construction on two battery energy storage system (BESS) projects in the UK. The Royle Barn Road plant in Rochdale and Welkin Road plant in Stockport will have a combined capacity of 55 MW and provide enough energy to power 25,700 homes.  Masdar acquired UK-based Arlington Energy in […]