Hotels in the GCC have experienced a downturn in performance and overall profitability that correlates with a decline in oil prices, according to data and analysis from STR.
Through the first half of 2016, the GCC hotel industry r
Japan's Sony Corp on Friday said operating profit fell in its first quarter by 42 per cent, less than analysts had estimated, as the electronics maker trimmed the impact of earthquake damage to one of its image sensor factories.
Demand for air travel to France and Nice, the country's second most popular destination after Paris, has dropped again after an attacker killed 84 people in the city on the French Riviera on July 14, according to travel data analysis company
The number of foreigners visiting Turkey plummeted more than 40 percent in June, official data showed on Thursday, marking the biggest drop in at least 22 years as tensions with Russia and a series of deadly bombings kept tourists away.
Hotels in the Middle East reported mixed results in key performance metrics this June, posting a 16.3 per cent decrease in occupancy to 48.9 per cent compared to June 2015, said a report.
Average daily rate for the month was up 12
A sharp drop in flight bookings to Istanbul followed the recent terrorist attack on June 28 at Ataturk Airport, according to ForwardKeys, which monitors future travel patterns by analysing 14 million reservation transactions each day.
The number of foreign visitors to Turkey fell by more than a third in May, official data showed on Tuesday - the biggest drop in at least 22 years as tensions with Russia and a spate of bombings continues to hit tourist arrivals.
Oil prices fell on Friday, as a stronger dollar pulled crude off 2016 highs hit this week.
Brent oil futures were trading at $51.15 per barrel at 0910 GMT, down 80 cents while US West Texas Intermediate (WTI) f
The number of tourists visiting Turkey fell by 28.07 per cent in April from a year earlier, official data showed on Friday, marking the biggest drop in 17 years on tensions with Russia and security concerns after a spate of bombings.
Hotels in the Middle East reported negative results in key performance metrics this April, posting a 1.8 per cent decrease in occupancy to 71.1 per cent compared to April 2015, said a report.
Average daily rate for the month was d