5 Trends to Watch:

1. Expansion of Global Hotel Brands into Extended-Stay Markets: Global hotel chains are strategically diversifying their offerings by incorporating extended-stay accommodation within their portfolios in the Middle East. This trend is illustrated by brands launching and developing new brands specifically for extended stays and adapting their properties to include serviced apartments with kitchens, gyms, and more.
2. The Pressure of High Occupancies and Rising Rates:
   High demand is driving up prices, with rates increasing as much as 25% from Q4 2023 to Q1 2024. This surge is attributed to several factors, including increasing demand paired with inflation and staffing shortages, which compel hospitality suppliers to raise their rates.
3. The Impact of Large-Scale Tourism and Business Initiatives:
   From the FIFA World Cup in Qatar to Dubai's COP28, these events are catalysts for the region's hospitality sector, drawing attention and investment to various countries.
4. Transitioning Preferences from Branded to Independent, Boutique Accommodation:
   The evolution of guest preferences, particularly among long-term travellers, from branded to non-branded service accommodations reveals a strategic cost-saving measure.
5. Embracing Technology and Sustainability in Hospitality:
   There is a noticeable increase in integration of technology and eco-friendly practices within the hospitality sector. As guests seek more sustainable lodging options and enhanced digital experiences, serviced apartments are compelled to innovate.
   
   

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