Marriott’s MEA on safe performance index
Guest Writers are not employed, compensated or governed by TD, opinions and statements are from the specific writer directly
Marriott International recently released the company’s full year RevPAR earnings for the Middle East and Africa (excluding Egypt). As per the results, the region witnessed an increase by 8.1% year on year (YOY) for managed comparable units.
These improvements are being driven by ADR growth of 6.6% and a slight improvement in occupancy of 0.9%. However in Q4, RevPAR declined 3% YOY. This is driven by an improved 1.2% ADR and a decline in occupancy by 1.3%.
Alex Kyriakidis, president and managing director of Marriott International, Middle East and Africa, said: “The hospitality industry in the region is full of opportunity at the moment and we in a good position to capitalize on it. Throughout the year Marriott International has succeeded in expanding its footprint. However, Egypt remains a challenging market for the industry as a result of the on-going political instability. However, we have confidence in the markets ability to bounce back.”
In 2014, Marriott International announced the signing of a definitive agreement with South Africa’s Protea Hospitality Holdings for the purchase by Marriott of Protea’s three brands and Management Company. Protea has 116 hotels with 10,148 rooms in seven African countries including South Africa. At closing, Marriott will become the largest hotel company in the Middle East & Africa region, nearly doubling its distribution there to more than 23,000 rooms.
Comments are closed.