The Middle East/Africa region reported increases in all three key performance measurements for November 2010 when reported in U.S. dollars, according to data compiled by STR Global.
The region’s occupancy ended the month with a 2.4-percent increase to 69.8 percent, average daily rate rose 3.1 percent to US$182.05, and revenue per available room went up 5.5 percent to US$127.14.
“The Middle East/Africa region hasn’t seen as much recovery as the other regions”, said Elizabeth Randall, managing director of STR Global. “New room stock entering the markets across the Middle East is the main stumbling block to a higher growth rate. Whilst we saw only limited year-to-date improvements in all key performance indicators, the region achieved a higher average rate by US$0.39 compared to year-to-date 2008. Occupancy, however, is 8.4 percentage points behind year-to-date 2008”.
Highlights among the region’s key markets for November include (year-over-year comparisons, all currency in U.S. dollars):
- Abu Dhabi, United Arab Emirates, experienced the largest occupancy increase, rising 33.6 percent to 76.0 percent.
- Beirut, Lebanon, dropped 10.3 percent in occupancy to 67.3 percent, reporting the only double-digit decrease in that metric.
- Two markets experienced double-digit ADR increases: Jeddah, Saudi Arabia (+11.0 percent to US$197.76), and Beirut (+10.6 percent to US$255.74).
- Abu Dhabi posted the largest ADR decrease, falling 16.6 percent to US$260.41, followed by Dubai, UAE (-11.7 percent to US$254.63).
- Three markets achieved double-digit RevPAR increases: Muscat, Oman (+14.0 percent to US$197.39); Abu Dhabi (+11.3 percent to US$197.97); and Jeddah (+10.2 percent to US$136.67).
- Dubai fell 11.6 percent in RevPAR to US$208.75, reporting the largest decrease in that metric.
|Country||Occupancy||% change||ADR||% change||RevPAR||% change|
|United Arab Emirates||78.7%||+5.1%||AED900.23||-10.9%||AED708.36||-6.3%|
*percentages are increases/decreases for November 2010 vs. November 2009
About STR Global
STR Global provides clients—including hotel operators, developers, financiers, analysts and suppliers to the hotel industry—access to hotel research with regular and custom reports covering Europe, Middle East, Africa, Asia Pacific and South America. STR Global provides a single source of global hotel data covering daily and monthly performance data, forecasts, annual profitability, pipeline and census information. STR Global is part of the STR family of companies and is proudly associated with STR, RRC Associates, STR Analytics, and HotelNewsNow.com. For more information, please visit www.strglobal.com.
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