Tag Archives: Q4 2023

STR data year-on-year up to September 2023 shows that average hotel occupancy in Manama is up by 5.9% compared to the same period in 2022, with RevPARs also up 4.9% YoY. This is despite average daily rates (ADRs) falling slightly at 1.0%. In July, it was announced that Edamah broke ground on two boutique hotels at Bilaj Al Jazayer – the four-star Avani and five-star Tivoli, both scheduled to open in 2025. Upon completion, the Bilaj Al Jazayer mixed-use 1.3 million square metre development master plan will also comprise residential villas and apartments, retail and F&B, entertainment and offices along the 3km beachfront. Fraser Suites is expanding its offering in Bahrain, signing with Seef Properties to operate in Al Liwan in Hamala. The new offering will provide 63 serviced apartment units, with a mix of one-, two-, and three-bedroom apartments, over three floors. The serviced apartment component is expected to open in Q4 2023. Heather Longden, Director – Advisory & Transactions, at CBRE in Bahrain comments: “We’ve seen slight uplifts in Bahrain’s hospitality and residential sectors in Q3 2023. In the residential market, although performance was mixed and quoted apartment sales rates dropped marginally year-on-on year, average quoted residential rents increased along with villa sales rates across the geographies. In the hospitality sector, occupancy rates increased by 5.9% compared to the same period in 2022 and RevPARs also grew by 4.9% in Manama. Other aspects of the market remained stable, as the commercial office and retail sectors continue to witness development with prominent projects due to complete soon, which will add to existing stock.”

The First Group announced the successful completion of another remarkable project – The First Collection Waterfront Dubai. Located on the Canal Boardwalk in Business Bay, the new property will be the third in the collection and is scheduled to open its doors in Q4 2023. The First Collection Waterfront will feature 327 rooms and suites. Its rooftop pool will offer panoramic vistas of Dubai’s renowned landmarks, including the iconic Burj Khalifa and the picturesque Dubai Canal. This achievement marks a significant milestone in expanding The First Group Hotels portfolio and underscores the continuous growth of its homegrown hotel brand, The First Collection. Within The First Collection brand, there are already two established hotels – The First Collection at Jumeirah Village Circle and The First Collection Business Bay. Together, these hotels welcome approximately 850,000 guests annually, hailing from diverse countries including KSA, Oman, Qatar, Kuwait, Bahrain, UK, Russia, France, USA, and Italy. In 2022, The First Collection hotels achieved a remarkable feat by being the only Dubai establishment to be recognized among the world’s finest hotels by Trip Advisor. Furthermore, The First Collection at Jumeirah Village Circle has secured an impressive position within the coveted ‘Top 10 Hotels in Dubai’ on Trip Advisor’s esteemed list, specifically claiming the noteworthy #5 spot. “We are thrilled to introduce The First Collection Waterfront, a remarkable addition to our portfolio. This milestone not only signifies our unwavering dedication in providing unparalleled hospitality experiences, but also mirrors our determination to elevate the reach of our brand. At The First Group, our mission is to optimize the performance of each property under our care, seamlessly adapting to changing market trends, and creating exceptional experiences for our guests,” …

Jumeirah Marsa Al Arab, set to open in Q4 2023, will lead a new generation of Jumeirah Group’s ultra-luxury portfolio. The new resort will feature 303 rooms, 84 suites, as well as 82 one-, two- and three-bedroom glamorous serviced residences set amid private landscaped gardens. As light and uplifting as a softly salted sea-breeze, Jumeirah Marsa Al Arabs’ accommodation is styled to transform the nautical glamour of a bygone era into a haven of modern living.  It encompasses specially-integrated wellness and leisure destinations and an impressive line-up of signature restaurants, including a new concept comprising four restaurants in one. With all rooms offering a panoramic vista over the Arabian Sea, this statement property will mark a new epoch for Jumeirah Group – all of which will result in one-of-a-kind experiences and life-changing discoveries.