US-Iran conflict stalls Gulf hotel deals over valuation disagreements

On October 5, 2026, Skift Feed reported that the US-Iran conflict has not forced Gulf hotel owners to sell assets, but buyers and sellers cannot agree on prices because pre-war valuations no longer hold, leaving transactions stalled. James Wrenn, head of hotels and leisure at Knight Frank, said hotels listed before the conflict remain unsold due to price disagreements rather than owners' financial difficulties, and sellers are becoming more pragmatic about pricing expectations. On October 9, Skift Feed reported that Duncan O'Rourke, Accor's CEO for premium, midscale and economy brands in the Middle East, Africa and Asia-Pacific, said the US-Iran war has split the Gulf hotel market in two: resorts are seeing stronger room rates as leisure travelers return, while UAE city hotels were forced to cut prices by 15% to 20% in August and September to keep occupancy rates within 5% of target.