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Saudi hotels ... dominating the Gulf region in revenue.

Saudi drives GCC hotel revenue growth in September

DUBAI, November 1, 2014

The hospitality sector in the GCC witnessed solid growth in September with Saudi Arabia dominating the region with a 49.2 per cent increase in Revenue per available room (RevPAR) followed by Qatar with a 18.9 per cent growth.

Its neighbour Bahrain too put up a solid performance registering over 8.9 per cent growth in RevPAR, while Kuwait witnessed over 4.7 per cent increase and Oman over 3.1 per cent.

The growth was mainly driven by meetings, incentives, conferences and exhibitions (Mice) and the business activity, reported the Hospitality-On magazine.

Qatar hosted the SPE Middle East Health, Safety, Environment, and Sustainable Development Conference and Exhibition from September 22 to 24, while Saudi Arabia organised different exhibitions, such as "Saudi Agro Food" and "Petrochem Arabia."

The major events for the hotel industry in Bahrain was Company Secretary Forum held in Manama last month, while Kuwait organised The Big 5 and Oman played host to an health exhibition and CSR summit in Muscat.

One of the region's biggest market, the UAE, however, experienced a decline of 0.7 per cent in the RevPAR despite "The Hotel Show" held in Dubaï during the last days of September, said the report.

On the Middle East and North Africa (Mena) region, the report said only Lebanon and Yemen remained on a negative trend compared to last year.

Egypt's RevPar increased significantly this month again, mainly in Red Sea region: Hurghada (over 193.3 per cent), Sinai Peninsula (over 180.8 per cent) and Sharm El Sheikh (more than 218.4 per cent), the report said.

The strong performances are the result of an improved political situation for the country compared to last year's violence and complicated political situation, it added.




Tags: hotel | Saudi | GCC | Revenue |

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