Published on : Monday, December 23, 2013
The region reported a 1.7-percent decrease in occupancy to 64.6 percent, a 6.8-percent increase in average daily rate to US$180.88 and a 4.9-percent increase in revenue per available room to US$116.78.
“In the Middle East & Africa region, demand is outpacing supply on a rolling 12-month basis, achieving 3.7-percent and 2.7-percent growth, respectively. RevPAR has been driven by rate, with a 3.4-percent growth in U.S. dollar terms. The region’s performance is mostly driven by Middle Eastern markets of Abu Dhabi, Dubai, Manama and Muscat, which all posted double-digit RevPAR growth year-to-date November 2013 in local currency terms”, said Elizabeth Winkle, STR Global’s managing director.
Highlights among the region’s key markets for November 2013 include (year-over-year comparisons, all currency in U.S. dollars):
• Beirut, Lebanon, reported the largest occupancy increase, rising 22.3 percent to 43.2 percent. Amman, Jordan, followed with a 14.2-percent increase to 67.8 percent.
• Cairo, Egypt, fell 39.3 percent in occupancy to 33.0 percent, posting the largest decrease in that metric.
• Dubai, United Arab Emirates, rose 9.9 percent in ADR to US$290.68, reporting the largest increase in that metric.
• Doha, Qatar (-18.0 percent to US$181.23), ended the month with the largest ADR decrease.
• Five markets achieved RevPAR increases of more than 10 percent: Amman (+19.3 percent to US$105.97); Beirut (+19.2 percent to US$64.36); Manama, Bahrain (+15.2 percent to US$100.67); Dubai (+12.7 percent to US$254.18); and Abu Dhabi, United Arab Emirates (+10.4 percent to US$171.70).
• Cairo fell 43.3 percent in RevPAR to US$33.74, posting the largest decrease in that metric.
Source: STR Global.
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