Abu Dhabi reports surge in occupancies: HotStats MENA
Guest Writers are not employed, compensated or governed by TD, opinions and statements are from the specific writer directly
Abu Dhabi hotels reported a surge in performance with occupancies touching 85% in November whilst Kuwait hotels experienced a 67% jump in profits. The statistics were reported by HotStats.
Abu Dhabi’s growth resulted in an increase of 7.8% from the same period in 2012. Average Room Rates (ARR) experienced a slight revival with a 0.8% increase to US$ 246.74. The strong growth in demand drove a 10.9% increase in Revenue Per Available Room (RevPAR) closing the month at US$209.71.
The increase in ARR was led by a surge in demand from the leisure segment whilst occupancy levels benefitted from strong corporate activity and demand originating from city wide events. A rise in beverage and conferencing revenues helped to boost Total Revenue Per Available Room (TRevPAR) by 11.4% to US$ 387.55, which in turn, drove profitability up 11.7% to US$188.44, the highest level registered in 2013.
“Momentum has rapidly picked up in Abu Dhabi’s hotel market that has seen consistent growth in demand this year, particularly from the leisure segment. In year to date terms, occupancies are 10.9% higher than 2012 and have helped boost top line revenues which have filtered through to the bottom line, driving a 24.1% increase in profitability,” said Peter Goddard, managing director of TRI Hospitality Consulting Middle East.
Comments are closed.