Beirut hotel rates rise but occupancies slip
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Hotel rates in Beirut are increasing to levels that put the Lebanese capital in the region’s top three most expensive destinations.The average rate per room hit the $261 mark in the first eight months of 2010, ranking behind only Dubai beach properties (first place) and Doha (second place), according to Ernst & Young’s benchmark survey of the Middle East hotel sector.Revenues per available room (RevPAR) were $183 for the period increased to $177, up 3.5% year on year and ranking the city in second place in the region after Dubai beach properties. The 3.5% increase was the ninth highest rise in the region, behind Cairo and Jeddah and compared to an increase of 1.55% across the region.However average occupancy rates at Beirut properties was 70% for the period, decreasing from 72% percent in the same period last year.The rate was the 11th highest among 19 markets in the region, while it was 7th highest in the first eight months of 2009. Occupancy rates at Beirut hotels were 64 percent in January, 76 percent in February, 68 percent in March, 79 percent in April, 71 percent in May, 77 percent in June 2010, 80 percent in July and 43 percent in August compared to 85 percent in January, 76 percent in February, 74 percent in March, 81 percent in April, 68 percent in May, 69 percent in June, 87 percent in July and 75 percent in August 2009. The decline in August is attributed to the start of Ramadan and the departure of Gulf and Arab nationals. Beirut hotels had an occupancy rate of 73 percent for all of 2009.Beirut posted RevPARs of $160 in January, $209 in February, $155 in March, $208 in April, $158 in May, $188 in June, $270 in July 2010 and $120 in August. Dubai-Beach posted the highest average room rate in the region at $284 and the highest RevPAR at $228.
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