The Middle East/Africa region reported positive performance results during February 2014 when reported in U.S. dollars, according to data compiled by STR Global.
The region reported a 1.3-percent increase in occupancy to 67.4 percent, a 2.7-percent increase in average daily rate to US$177.42 and a 4.0-percent increase in revenue per available room to US$119.55.
“The Middle East still is driving performance in the region”, said Elizabeth Winkle, managing director of STR Global. “Jordan, Oman and Saudi Arabia are all posting both occupancy and ADR growth (in local currency). Jordan and Bahrain are reporting the largest occupancy growth. Dubai is still reporting high occupancy; the new supply coming in is being absorbed and we are seeing double-digit rate growth”.
Highlights among the Middle East/Africa region’s key markets for February 2014 include (year-over-year comparisons, all currency in U.S. dollars):
- Three markets reported double-digit occupancy growth: Manama, Bahrain (+39.0 percent to 63.2 percent); Doha, Qatar (+13.9 percent to 76.9 percent); and Amman, Jordan (+10.2 percent to 59.3 percent).
- Beirut, Lebanon, fell 25.2 percent in occupancy to 39.4 percent, posting the largest decrease in that metric. The market also reported the largest decrease in RevPAR, falling 31.4 percent to US$55.61.
- Dubai, United Arab Emirates, achieved the largest ADR increase, rising 9.7 percent to US$286.99.
- Abu Dhabi, United Arab Emirates (-22.9 percent to US$148.72) reported the largest ADR decrease in February.
- Manama jumped 37.7 percent in RevPAR to US$120.11, experiencing the largest increase in that metric, followed by Amman with a 15.2-percent increase to US$97.16.
*percentages are increases/decreases for February 2014 versus February 2013
About STR Global:
STR Global provides clients-including hotel operators, developers, financiers, analysts and suppliers to the hotel industry-access to hotel research with regular and custom reports covering Europe, Middle East, Africa, Asia/Pacific and South America. STR Global provides a single source of global hotel data covering daily and monthly performance data, segmentation data, forecasts, annual profitability, pipeline and census information. Hotel operators can join the surveys on a complimentary basis and benefit from free industry data. STR Global is part of the STR family of companies and is proudly associated with STR, RRC Associates, STR Analytics and HotelNewsNow.com. For more information, please visit www.strglobal.com.
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