Bahrain hotels register solid growth in July
Dubai, September 19, 2012
Bahrain hotels registered a sharp 39.1 per cent increase in occupancy rates in July when compared to last year, thanks to the measures taken by the government to boost economic stability, said an expert.
The marked change in the Bahrain hospitality market was also due to the increased business confidence in the Kingdom in July, explained Yousef Wahbeh, the Mena head of Transaction Real Estate at Ernst & Young.
Positive developments have also been noted in Jordan capital Amman, where occupancy increased 36.4 per cent year to date in July with the unrest in neighboring Syria driving an inflow of people into Jordan, he added.
On the Dubai scenario, Wahbeh said, "Overall the occupancy in Dubai hotels was 69.4 per cent this July, down 11.1 per cent compared to last year. But this was primarily due to Ramadan partly falling in the month of July this year."
With Ramadan extending through August, it is similarly expected that a drop in occupancy will be registered.
Rooms yield (RevPAR) has dropped 10.3 per cent in July even as average room rate has increased 4.1 per cent, which is indicative of improved rate integrity and stronger confidence in the market from hoteliers’ perspective, the expert said.
Elsewhere, in Egypt Sharm El Shaikh witnessed a 19.5 per cent occupancy increase year to date and this is a positive for tourism growth in Egypt in the coming months and years, said Wahbeh.
Another notable increase was seen in Jeddah which registered an 18.6 per cent annual change in occupancy reflecting the growth of tourism during Ramadan and Umrah travel, he added.-TradeArabia News Service