Middle East sustains growth in 2012: STR Global
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The Middle East/Africa region reported mostly mixed performance results in 2012, according to data compiled by STR Global.
The Middle East had a good year achieving its third highest RevPAR of US$131.48 within the last eight years. The region remained popular with developers and guests growing 6.3% in room inventory and 10.2% in demand.
Overall in 2012, the region reported a 6.1% increase in occupancy to 60.3%, a 0.5% decrease in average daily rate to US$161.64 and a 5.6% increase in revenue per available room to US$97.54.
“Looking at African performance, a difference in ADR performances between Northern Africa and the rest of Africa becomes evident; Northern Africa’s ADR declined 2.1%, whilst the remaining continent’s ADR increased 2.6%,” said Elizabeth Randall Winkle, managing director of STR Global.
She further added: “Northern Africa experienced a bounce back in occupancy with a 16.8% increase to 52%. Its African neighbours grew 3.9% to 59.6% occupancy.”
In December 2012, the region reported a 3.7% increase in occupancy to 57.7%, a 1.1% increase in ADR to US$177.27 and a 4.9% rise in RevPAR to US$102.36.
Regional Highlights:
– Cairo, Egypt, jumped 24.5% in occupancy to 45.6%, reporting the largest increase, followed by Amman, Jordan (+15.1% to 65.0%), and Muscat, Oman (+14.3% to 59.6%).
– Nairobi, Kenya, reported the largest occupancy decrease, falling 8.2% to 62.9%.
– Jeddah, Saudi Arabia (+9.0% to $221.97), and Dubai, UAE (+7.9% to $234.99), ended the year with the largest ADR increases.
– Beirut, Lebanon, reported the only double-digit ADR decrease, falling 10.2% to US$186.62.
– Four markets achieved double-digit RevPAR growth: Amman (+20.9% to US$99.39); Jeddah (+19.7% to US$176.60); Cairo (+13.7% to US$47.35); and Dubai (+11.4% to US$181.45).
– Beirut fell 17.3% in RevPAR to US$94.55, reporting the largest decrease.