RAK Hospitality Asset Management has announced that its hotels under management posted a record growth of 16.4 per cent in revenue per available room (RevPAR) in Q1 2016.
Rashad Saab, head of asset management at RAK Hospitality As
Hotels in the UAE witnessed an occupancy rate of 76.7 per cent during May, marking a year-on-year increase of 2.1 per cent, while the rest of the Middle East and Africa region reported mixed results, according to new data.
The Middle East and African (MEA) region reported a 0.2 per cent decrease in hotel occupancy to 67.2 per cent in February this year, a recent report said.
However, the region posted a 1.3 per cent rise in revenue per available roo
Hilton Worldwide Holdings, owner of the Waldorf Astoria hotel brand, forecast lower-than-expected earnings for the first quarter as a strong dollar makes it more expensive for foreigners to travel to the US.
Hilton expects "r
While UAE hotels recorded the highest occupancy (83.1 per cent) for November in the region, the rate still marked a decrease of 2.5 per cent over the figures for the same month of 2013, a report said.
Egypt hotels logged 55.2 per
Hotels across Dubai recorded a small drop in average occupancy by 0.3 per cent in October compared to the same time last year, due to the additional supply of hotel rooms, a report said.
Dubai also witnessed a slight decrease in t
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