Hotels in Cairo reported the largest occupancy increase during September in the Middle East and Africa region with year-on-year growth recording a significant 107.5 per cent, while occupancy levels reached 51.8 per cent, a report said.
Hotels in Dubai, UAE, will end the year with a 2.2-per-cent increase in revenue per available room (RevPAR), STR Global has said.
The global provider of hotel data had in previously forecast in May a RevPAR of 3 per cent for 2014.
Dubai hotels reported the lowest occupancy levels in July of any month for the last 18 years, said an industry expert, adding that preliminary data indicate negative revenue-per-available-room performance.
“As July is one of
“The hotel market performed very well across most of Mena in August,” said Yousef Wahbah, Mena head of Transaction Real Estate at EY, a major professional services organisation.
Although the summer months are generally
Marriott International has recorded a 10.6 per cent increase in revenue per available room (RevPAR) across the Middle East and Africa in the second quarter, as compared to the same period last year.
The increase was predominantly
InterContinental Hotels Group (IHG), a leading hotel company, has announced a $350 million special dividend as well as an increase of 10 per cent in interim dividend on bumper rise in revenues and profits in the first half of the year.
End-of-year hotel results for 2012 reveal a steady recovery for the Mena region, with more than 8 per cent RevPAR (revenue per available room) growth over the corresponding period last year, a report said.
This was driven by a 4.2
The overall occupancy rate in Dubai’s hotels increased to 86.6 per cent in October, which is 5.6 per cent higher than it was in October 2011, said an expert.
“In addition, the rooms yield (RevPAR) increased by 12 per c
RevPAR (revenue per available room) across the Middle East rose 10.4 per cent in the first quarter of 2012 compared to 2011– 50 per cent greater than Asia and North America, said an expert.
While these figures varied between the major citi
Jumeirah Group, a Dubai-based global luxury hotel company which operates 20 luxury hotels and residences across 10 global destinations, has a pipeline of 16 hotels under development, the group announced today.
The next openings are schedul