- About Us
- Image Gallery
Published on : Thursday, December 5, 2013
The region reported a 3.5-percent decrease in occupancy to 63.1 percent, a 5.9-percent increase in average daily rate to US$191.44 and a 2.1-percent increase in revenue per available room to US$120.88.
The MEA region is posting positive results in U.S. dollar terms, thanks mainly to the performance of the Middle East. Dubai is one of the strongest performers in the Middle East.
“The exception was July, when Dubai saw a decline in occupancy because of Ramadan. October was the first month where supply growth outpaced demand growth, and as a result, October was the first month with an occupancy decline”, said Elizabeth Winkle, STR Global’s managing director.
Egypt, one of the main countries impacting northern Africa, experienced a decline in occupancy. The country’s ADR grew 9.5 percent in Egyptian pounds, but it fell 3.6 percent when calculated in U.S. dollars because of significant devaluation against the dollar.
Highlights among the region’s key markets for October 2013 include (year-over-year comparisons, all currency in U.S. dollars):
• Beirut, Lebanon, reported the largest occupancy increase, rising 17.6 percent to 45.3 percent. Abu Dhabi, United Arab Emirates, followed with a 15.8-percent increase to 76.7 percent.
• Cairo, Egypt, fell 46.6 percent in occupancy to 28.0 percent, posting the largest decrease in that metric.
• Abu Dhabi rose 10.7 percent in ADR to US$172.77, reporting the largest increase in that metric.
• Cairo (-11.6 percent to US$100.23) ended the month with the largest ADR decrease.
• Three markets achieved RevPAR increases of more than 10 percent: Abu Dhabi (+28.2 percent to US$132.46); Beirut (+17.3 percent to US$72.17); and Muscat, Oman (+11.5 percent to US$173.66).
• Cairo fell 52.8 percent in RevPAR to US$28.06, posting the largest decrease in that metric.
Source: STR Global.