Tuesday 19 June 2018

ME hotel occupancy rates up 1.8pc

Dubai, May 10, 2011

The hotel occupancy in the Middle East region during March rose to 68.5 per cent with a 1.8 per cent growth compared to the same period last year, according to a joint study by Deloitte and STR Global.

Interestingly, the region has shown growth despite the yearly increase in room supply with Dubai’s hotels clocking a 5.9 per cent increase in occupancy which hit 80.7 per cent, the report said.

This is indeed an achievement in the face of increased supply. The city’s hotels too witnessed an increase of 4.6 per cent in RevPAR that hit $199 in March, it added.

However, the report attributed this jump in occupancy rates to the hosting of major events during this period such as Dubai International Boat Show, The Princes Club ME 2011 & Dubai World Cup.

According to Deloitte-STR Global, the region’s RevPAR fell two per cent to $139 in March. This was compared to $88 in Europe, $96 in the Asia Pacific region and $65 in the Americas.

Abu Dhabi registered strong growth with the occupancy rates soaring to 71.2 per cent from last year's 63 per cent. The RevPAR in the city was $126 during March, compared to $141 last year.

According to Deloitte-STR Global, several high-profile events such as Yas Drag Racing Festival, Inter – Gulf Netball Tournament and Abu Dhabi International Book Fair helped in the occupancy growth in the emirate.

Elsewhere in the Gulf region, Saudi hotels saw good occupancy rates. However, Jeddah registered a 1.3 per cent decline in hotel occupancy rates which fell to 71.1 per cent compared to last year.

RevPAR for the city witnessed an increase of 5.2 per cent which reached $137 compared to $130 last year. 

Despite a decline in occupancy in March, events such as Protex Arabia & Russian Business week contributed to increase in RevPar compared to the corresponding period in 2010, the report pointed out.

In Oman, hotels in capital Muscat recorded a 59.5 per cent occupancy, down 12.4 per cent from 68 per cent during the corresponding period in 2010

The city’s RevPAR during March plunged by 11.9 per cent to hit $147, compared to $166 in 2010. However, the Deloitte report said that this was still one of the highest RevPAR’s in the region for the first quarter.

In the Levant region, the hotels in Beirut witnessed an occupancy rate of 47.9 per cent compared to 63.8 per cent during the corresponding period in 2010

The RevPAR for the city witnessed a decline of 29.9 per cent to hit $91 during March, the report added.-TradeArabia News Service

Tags: Middle East | Hotel Occupancy | Deloitte | STR Global |

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