According to sister publication Arabian Business, revenue fell by 6.3% to RO43.9 million (US$122m) compared to RO36.9m ($122m) in 2019. Figures from the National Centre for Statistics and Information (NCSI) show that occupancy rates at the end of February fell by 7.8% to 62.5% compared to the same point last year.Oman has set itself the same goal as many other Arab countries – to move its economy away from oil and towards other industries. As part of the Oman Vision 2040, a rich and diverse hospitality industry is paramount for the Sultanate’s mission. COVID-19, however, has thrown a curveball to an already struggling industry in Oman.
While occupancy in 2019 rose in Oman, RevPAR decreased 6.4% from $84.45 to $78.05. ADR saw a 7.3% decline reaching US$129.7 in 2019. As a result of the decline in revenue, GOP PAR also dropped 14.8% in 2019 according to TRI.Throughout 2019, Omani hotels received 1.77 million guests and generated total revenue of RO229.5m ($597m).