Despite the decline in demand, it was forecasted that by the end of 2016, occupancies would have reached 66 percent, higher than many corporate destinations in the GCC.

While Doha has welcomed more than 1,500 rooms in the past 12 months, many of them five-star, no new properties were inaugurated during Q3.

The delays in openings will allow the market to absorb the new supply.

Meanwhile, branded supply is anticipated to rise by a compound annual growth rate of 19 percent by 2018 and a positive outlook for serviced apartments is expected.