Middle East hotels saw occupancy decrease 0.9% to 68.2% in January as ADR dropped 8.9% to $154.18 and RevPAR declined 9.6% to $105.16. But hotels in Africa reported occupancy rose 0.3% to 53.4%, ADR climbed 2.1% to $120.06 and RevPAR rose 2.4% to $64.06 for the month.
Accor and Marriott International maintain the top room counts among parent companies operating in in the Middle East, according to STR. As part of the STR 500, the company will release the top 50 companies and brands in the Middle East during this weeks Arabian Hotel Investment Conference (AHIC) in Ras Al Khaimah.
HVS Dubai is pleased to release its first issue of the Hotel Valuation Index (HVI) for select markets in the Middle East (ME).
In March, hotels in the Middle East reported occupancy rose 0.9% to 71%, but ADR dropped 8.8% to $148.43 and RevPAR decreased 7.9% to $105.33. Hotels in Africa saw occupancy increase 1.2% to 59.4%, ADR rise 2.2% to $116.64 and RevPAR grow 3.5% to $69.31.