The Middle East and Africa region reported mixed reviews for October 2014 as per recent results from STR Global.
The region witnessed a 7.2% increase in occupancy to 67.6% while there was a 2.4% decrease in average daily rate to US$182.34 and a 4.6% increase in revenue per available room to US$123.19 in a year-over-year comparisons.
Elizabeth Winkle, managing director of STR Global said: “There was a 7.2% occupancy growth driven by countries such as Egypt and Lebanon which resulted in October still ending with positive revenue-per-available-room of a 4.6% growth. South Africa created the largest drag on ADR in with a dip of 4.7%.”
Occupancies in Cairo increased by 95.4^% to 55.3%, reporting the largest growth. However, Lagos witnessed a dip of 8.7% in occupancy to 46.9%, posting the largest decrease. The largest ADR increases were witnessed by Cairo with 16.7% to US$116.24 and Jeddah with 12.5% to US$270.58. Abu Dhabi reported the largest ADR decrease, down 9.2% to US$154.75. In terms of RevPAR, Cairo experienced the largest growth, increasing 128% to US$64.25 while the largest decrease was witnessed by Lagos falling 14.1% to US$116.71.