Central Hotels & Resorts, a leading name in the hospitality industry, has revealed its ambitious goals for 2024, anticipating an impressive 3.5 percent overall growth in both revenue and occupancies. Building on the positive trends observed in 2023, Central Hotels & Resorts is set to embark on strategic expansion, with a sharp focus on key international markets.
The upcoming year will see a targeted approach, with a specific emphasis on capturing the burgeoning travel markets of the CIS and East European regions, the group said.
Additionally, Central Hotels & Resorts aims to make substantial inroads into the dynamic travel landscapes of China and Central Asia, aligning its strategy with observed trends and tapping into the vast potential these markets hold.
“As we set our sights on 2024, Central Hotels & Resorts is poised for a year of unprecedented growth and strategic expansion. The positive indicators from 2023, coupled with our targeted approach to key international markets, position us for success in the evolving landscape of global hospitality,” said Abdulla Al Abdulla, Chief Operating Officer and Group General Manager of Central Hotels and Resorts.
In 2023, Central Hotels & Resorts recorded a surge in December occupancy rates, rising from 91 percent to an impressive 94 percent, accompanied by an 11 percent boost in revenue during the same period. Throughout the holiday season, a well-balanced distribution of guests across various channels, including online platforms, travel trade, and group segments, contributed to the brand’s success, he said.
France, Germany, the United Kingdom, Saudi Arabia, and the Netherlands emerged as primary sources of guests during this festive period for the group.
“The significant presence of guests from these countries played a pivotal role in driving the success of the business during the holiday season, emphasizing the importance of international markets in contributing to overall business performance. This geographical diversity in guest origin underscores the business’s appeal on a global scale and highlights the effectiveness of its marketing and outreach efforts in attracting visitors from diverse regions,” added Abdulla.
The peak month for occupancy in 2023 was November with an outstanding 98 percent occupancy rate, underscoring the strong demand for Central Hotels & Resorts’ offerings.
Additionally, there was a noticeable rise in the number of traveling families and couples last year. This trend indicates a growing preference for family-oriented or romantic getaways among travelers during the specified period, he said.
