Hotel occupancy in Kuwait stood at 55.0% in January 2011, up 3.0 percentage points compared to the same period last year, according to a new report published by Al Tameer Real Estate Investment.Average Daily Rate (ADR) rose 1.0% to $264.0 and Revenue per Available Room (RevPAR) grew 6.0% to $146.0 during January 2011, compared to the previous corresponding period.The unrest in major tourist destinations – Libya, Bahrain, Egypt and Tunisia has shed the number of tourist arrivals in the region. The unrest in Bahrain forced the government to postpone indefinitely the Formula One Grand Prix event, which brings in 40,000 visitors every year. In first week of March 2011, the U.S. State Department has issued travel warnings for tourists heading to Middle East. The list of countries includes Egypt, Tunisia, Libya, Yemen, Bahrain, Jordan, Lebanon, Oman and Algeria.The three metrics of the hotel Industry in the Mena region witnessed a positive growth in January 2011. Hotel occupancy in the region for the month stood at 57.5%, up 6.2 percentage points compared to the year-ago period. ADR grew 4.6% YoY to $172.26 and RevPAR rose 11.2% to $99.02 compared to January 2010. Hotel occupancy in the region for the month stood at 57.5%, a month-on-month increase of 2.1 percentage points compared to December 2010. ADR fell 0.7% to $172.26 and RevPAR fell 4.3% to $99.02 compared to December 2010.The report found the region’s hotel development pipeline stood at 430 hotels totaling 117,300 rooms in January 2011.Oman recorded the largest increase (74.4%) in existing room supply, adding 4,369 additional rooms.Other countries in the region to record an increase in existing supply include Bahrain (65.1% with 3,665 rooms), followed by Qatar (65.0% with 5,204 rooms), the UAE (57.3% with 48,005 rooms) and Kuwait (50.1% with 3,038 rooms).
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