Serviced apartments in Manama cosy and costly

In the GCC region, the highest average rates for serviced apartments are found in Manama, reaching up to US$200 per night in peak periods, according to the “MEA Serviced Apartment Markets & Guest Experience Index” published by Colliers International.

This is due to limited availability and the nature of Bahrain as a weekend getaway destination for many GCC nationals. The report adds that Manama is expected to increase its availability of serviced apartments.

Excluding Dubai, the current supply of serviced apartments within the GCC is limited, predominantly managed by unbranded and locally branded operators. This highlights the opportunity for international operators to enter the GCC serviced apartment market, the report added.

When looking at the segmentation of demand for serviced apartment within the analysed markets, it was found that long-stay was more in demand than short or medium-stay. However, the case is different in the UAE and Saudi Arabia, where demand is generated by short stay guest, who visit for religious, or leisurely purposes.

The dominance of the short- stay segment within KSA, UAE, Oman, and Bahrain is linked to the fact that the GCC nationals typically travel in large family groups. As a result, these guests tend to prefer accommodation facilities with self-catering services, the report noted.