The Middle East/Africa region reported mixed year-over-year results when reported in U.S. dollars for February 2009, according to data compiled by STR Global.
The region's occupancy dropped 11.5 percent to 63.4 percent, average daily rate increased 0.4 percent to US$163.49, and revenue per available room decreased 11.2 percent to US$103.61.
'Although we are seeing declines across the globe, the good news for the Middle East/Africa region is that in most instances they are still holding their average daily rates better than Asia Pacific, Europe or the Americas' said James Chappell, managing direct of STR Global. 'Not surprisingly, the predominantly leisure markets of Dubai and Cairo dropped their rates against February last year, although Dubai is falling from a high base and Cairo had a very strong first six months in 2008'.
Highlights from key markets in the Middle East/Africa region include (percentages are February 2009 vs. February 2008):
- Beirut, Lebanon, reported the largest occupancy increase (+127.1 percent to 73.1 percent). Jeddah, Saudi Arabia, also increased in occupancy (+2.3 percent to 67.4 percent).
- Three key markets reported decreases in occupancy of more than 20 percent: Tel Aviv, Israel (-35.7 percent to 44.3 percent), Muscat, Oman (-24.3 percent to 65.8 percent), and Amman, Jordan (-21.7 percent to 50.8 percent).
- Two key markets reported ADR increases of more than 40 percent: Beirut (+44.8 percent to US$171.00) and Abu Dhabi, United Arab Emirates (+42.5 percent to US$388.49). Other markets reporting double-digit increases in ADR include: Riyadh, Saudi Arabia, (+21.2 percent to US$285.67), Amman (+20.7 percent to US$144.64), Jeddah (+18.7 percent to US$182.16), and Muscat (+16.3 percent to US$302.93).
- Four key markets reported RevPAR increases: Beirut (+228.9 percent to US$125.02), Abu Dhabi (+35.5 percent to US$324.80), Jeddah (+21.5 percent to US$122.79), and Riyadh (+4.0 percent to US$196.36).
Performances of key countries in February (all monetary units in local currency):
*percentages are increases/decreases for February 2009 vs. February 2008
About STR & STR Global
For more than 20 years, Smith Travel Research has been the recognized leader for lodging industry benchmarking and research. Smith Travel Research and STR Global offer monthly, weekly, and daily STAR benchmarking reports to more than 36,000 hotel clients, representing nearly 5 million rooms worldwide. STR is headquartered in Hendersonville, Tenn., and STR Global is based in London. For more information, visit www.smithtravelresearch.com or www.strglobal.com.
Logos, product and company names mentioned are the property of their respective owners.
