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Strong Results of Hotels in the Middle East in August

Hotels located in the Middle East and Africa featured the highest growth of RevPAR in August when compared to other regions of the world.

According to the new data from STR Global the occupancy of the region added 11.9% and reached 53.8% during August 2012. Together with this the average daily rate grew by 3.0% to the level of US$154.93, and this helped to increase RevPAR by 15.3% to US$83.37.

Such a good performance of hotels in the Middle East is greatly impacted by early Ramadan. The Holy month ended earlier this year’s August comparing to August 2011, and this fact has made great impact on performance metrics.

Hotels in Dubai, the UAE reached the largest increase in the average daily rate. The growth estimated 23.7% to US$184.23. The second largest growth was reached by hotels in Jeddah, Saudi Arabia – plus 18.1% to US$255.99. Jeddah is followed by hotels in Amman and their increase in ADR of 17.8% to US$160. At the same time the occupancy of Riyadh accommodations (Saudi Arabia) fell by 8.5% to 31.0%.

In August six markets in the Middle East and Africa reached the growth of RevPAR over 25%. These are Amman (+80.1%), Cairo (+66.4%), Dubai (+59.9%), Jeddah (+40.6%), Muscat (+36.1%), and Manama (+25.8%).

08.10.2012

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