MEA hotel occupancy increased 4.6% for October: STR Global
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The Middle East and Africa region reported positive hotel performance results for October 2012, according to STR Global.
The region’s occupancy increased 4.6% to 65.5% during the month, its average daily rate rose 9.4% to US$183.97 and its revenue per available room grew 14.4% to US$120.56.
“ADR across the Middle East saw a doubled-digit uplift in October for the first time this year, growing 13.3% to US$246 after benefiting from the Eid celebrations,” said Elizabeth Randall Winkle, managing director of STR Global. “Across Saudi Arabia, RevPAR grew 38.8% against October 2011.The biggest RevPAR increases were reported in Makah (88.2%) and Medina (36.9%) followed by Al Khobar (25.1%) and Jeddah (23.4%). RevPAR in Riyadh declined 38.4% in the same month. ADR across Africa continued to soften against last year, declining for all 10 months this year to report a 7.7% decline. Occupancy, on the other hand, grew all months expect January, reporting a 9.4% increase year to date to 56%.”
Cairo, Egypt, rose 11.1% in occupancy to 52.0%, reporting the largest increase in that metric, Jeddah in Saudi Arabia (+26.9% to US$243.19), and Dubai (+13.2% to US$272.70), ended the month with the largest ADR increases. The four markets that achieved double-digit RevPAR growth included Jeddah (+23.4% to US$189.54); Dubai (+20.4% to US$224.51); Cairo (+17.3% to US$59.10); and Sandton in South Africa, and surrounding areas (+12.5% to US$84.01). On the other hand, Beirut in Lebanon, reported the largest decrease in all three key performance metrics. The market’s occupancy fell 37.7% to 38.5%, its ADR was down 15.9% to US$159.34, and its RevPAR decreased 47.6% to US$61.36.