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Hotels in the Middle East and Africa Feature Highest Revenues in February

The latest figures by STR Global show that hotels in the Middle East and Africa (MEA) showed the highest growth of RevPAR in February 2012. The average occupancy in the region added 13.3% and estimated 62.6%, and ADR fell down by 6.8% to US$172.01. This didn’t prevent RevPAR from growth, which estimated US$107.74 (+ 5.6%).

Comparing to February 2011, hotels in such destinations as Cairo, Beirut, and Amman showed significant growth in occupancy to the levels of 40.7%, 58.2%, and 79.1% respectively. At the same time the occupancy of hotels in Manama and Abu Dhabi fell down by 24.3% and 12.2% respectively. Occupancy has caused great influence of revenues of the hotels in the region, and so RevPAR of hotels in Cairo added 91.4% to US$44.01, 71% up for hotels in Beirut (to US$112.96), 45.7% up for hotels in Amman (to US$112.39), and 22.9% up for hotels in Jeddah (to US$164.32). The decrease of revenues for hotels in Manama estimated 31.6% to US$92.11, and 29.9% down to the level of US$114.72 for hotels in Abu Dhabi.

A year has already passed since the Arab Spring, and the situation on the market slowly stabilizes, geared up by lower base values.

Other regions showed mixed results in February 2012. Asia Pacific shows steady growth – the average occupancy in the region added 3.6% to 66.5%, and revenue per available room increased by 6.5% to the level of US$97.08. Chinese New Year helped many hotels to improve their results after relatively weak January. The biggest growth is reached by hotels in Shanghai, Beijing, and Jakarta, and hotels in Bali feature the decline in occupancy of 11.4%.

Europe keeps struggling with problems of Eurozone, so no big gains in revenues are expected here. Nevertheless, 15 countries out of 27 show at least modest growth of RevPAR. Hotels in Reykjavik, Prague and Tallinn are the leaders in terms of the growth of occupancy.

12.04.2012

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