MEA hotel sector disappoints in July
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The Middle East and Africa hotel sector reported decreases in all three key performance metrics during July, according to data compiled by STR Global. The region ended the month with a 1.2% decrease in occupancy to 60.0%, a 1.0% fall in average daily rate to $139.89, and a 2.2% decline in revenue per available room to $83.98.”The FIFA World Cup, which attracted extra demand and room supply during June/July 2010 across South Africa, made from a tough comparable this month throughout the country,” said Elizabeth Randall, managing director of STR Global. “Meanwhile, the consequences of the Arab Spring continue to impact the results for Northern Africa. Dubai and Jeddah, on the other hand, continue to improve on last year’s performance, both reporting double-digit RevPAR growth.”Highlights among the region’s key markets for July include (year-over-year comparisons, all currency in U.S. dollars):
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