MEA region witness 1.7% dip in occupancy

Recent reports compiled by STR Global for the Middle East and Africa region reported mixed performance results during November 2013. The region reported a 1.7% decrease in occupancy to 64.6%, a 6.8% increase in average daily rate to US$180.88 and a 4.9% increase in revenue per available room to US$116.78. “In the Middle East & Africa region, demand is outpacing supply on a rolling 12-month basis, achieving 3.7% and 2.7% growth, respectively. RevPAR has been driven by rate, with a 3.4% growth in US dollar terms. The region’s performance is mostly driven by Middle Eastern markets of Abu Dhabi, Dubai, Manama and Muscat, which all posted double-digit RevPAR growth year-to-date for November 2013,” said Elizabeth Winkle, managing director, STR Global. Highlights from the region include Beirut reported the largest occupancy increase, rising 22.3% to 43.2%. Amman followed with a 14.2% increase to 67.8%. Cairo fell 39.3% in occupancy to 33%, posting the largest decrease. Dubai rose 9.9% in ADR to US$290.68, reporting the largest increase. While Doha reported a -18% to US$181.23, ending the month with the largest ADR decrease. The reports also states that five markets achieved RevPAR increases of more than 10%. These include Amman with 19.3% to US$105.97; Beirut with 19.2% to US$64.36; Manama with 15.2% to US$100.67; Dubai with 12.7% to US$254.18; and Abu Dhabi with 10.4% to US$171.70. Finally, Cairo fell 43.3% in RevPAR to US$33.74, posting the largest decrease. Source: Travel Daily