The Middle East/Africa region reported mixed hotel performance results in November 2012 when reported in U.S. dollars, according to data compiled by STR Global.
The region’s occupancy increased 0.9 percent to 65.9 percent during the month, its average daily rate fell 6.2 percent to US$172.82 and its revenue per available room decreased 5.4 percent to US$113.89.
“Cairo continued to pick up again in performance as demand for hotel rooms increased 37.4 percent for November and 23.7 percent year to November”, said Elizabeth Randall Winkle, managing director of STR Global. “Occupancy for November was the highest so far this year with 53.9 percent—obviously still behind its November 2008 peak of more than 80 percent occupancy.
“Beirut, in contrast, reported the lowest occupancy (35.1 percent) for a month since May 2008”, Winkle commented. “The ongoing Syrian conflict, the October bombing in Beirut itself and heightened travel advisories have contributed to the decreased demand to the city”.
Highlights among the region’s key markets for November 2012 include (year-over-year comparisons, all currency in U.S. dollars):
- Cairo, Egypt (+36.1 percent to 53.9 percent), and Riyadh, Saudi Arabia (+29.4 percent to 62.7 percent), reported the largest occupancy increases for the month.
- Doha, Qatar, reported the largest ADR increase, rising 6.5 percent to US$239.34.
- Three markets experienced double-digit RevPAR increases: Cairo (+38.4 percent to US$59.20); Riyadh (+32.5 percent to US$177.58); and Doha (+15.0 percent to US$167.45).
- Beirut, Lebanon, reported the largest decrease in all three key performance metrics. The market’s occupancy fell 47.2 percent to 35.1 percent, its ADR was down 32.6 percent to US$154.18, and its RevPAR decreased 64.4 percent to US$54.13.
Download Global Performance review
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, segmentation data, forecasts, annual profitability, pipeline and census information. Hotel operators can join the surveys on a complimentary basis and benefit from free industry data. 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.
Logos, product and company names mentioned are the property of their respective owners.