MEA region witnesses 14.8% increase
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The Middle East and Africa region recently reported mixed performance for August 2014 according to STR Global. In August, the region reported a 14.8% increase in occupancy to 64.3%, a 7.5% decrease in average daily rate to US$141.66 and a 6.3% increase in revenue per available room to US$91.09.
“This month RevPAR grew 6.3%, primarily driven by occupancy growth across all sub-regions,” said Elizabeth Winkle, managing director of STR Global. “Egypt reported strong performance for the second consecutive month, due in part to low performing comparables in 2013 when the country experienced an outbreak of violence as the military moved to clear protest camps and resulted in a period of political instability. The question remains whether this uptick is the beginning of a turnaround for Egypt.”
Egypt jumped 180.5% in occupancy to 58.8%, reporting the largest increase, followed by Riyadhwith 35.1% to 48.3% and Beirut with 23% to 59.5%.
However, Nairobi fell 13.8% to 58.1% in occupancy, posting the only decrease. Nairobi also led the RevPAR decreases, falling 18.2% to US$81.00. Cape Town witnessed an 8.7% to US$100.60 and Cairo with 8.6% to US$108.29 achieved the largest ADR growth.
Dubai fell 5.6% to US$181.83 in ADR, experiencing the largest decrease. Finally, the six markets that reported RevPAR growth of more than 20% – Cairo with 204.6% to US$63.65; Riyadh with 28.7% to US$103.45; Cape Town with 26.8% to US$61.46; Manama with 24.1% to US$110.52; Beirut with 23.2% to US$101.17; and Jeddah with 21.2% to US$206.23.
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