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Strong Investment Potential in growing MEA Hotel Market

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Oman  Beirut  Lebanon  Middle east  Jeddah  Saudi Arabia  Jordan  Abu Dhabi  Dubai  United Arab Emirates  STR Global  Amman  Muscat  Elizabeth Winkle  Hotel Performance Statistics 

Strong Investment Potential in growing MEA Hotel Market

By - Thursday 28 March 2013

The Middle East/Africa region reported positive performance results in February 2013 when reported in U.S. dollars, according to data compiled by STR Global.

The region reported a 6.4-percent increase in occupancy to 66.4 percent, a 2.9-percent increase in average daily rate to US$176.55 and a 9.5-percent increase in revenue per available room to US$117.24.

"The Middle East/Africa region reported positive performance increases across the board", said Elizabeth Winkle, managing director of STR Global.

"Dubai in particular reported significant increases in both supply and demand within the Luxury hotel segment, illustrating the market's appetite for these hotels", she added. "However, the emirate's Upper Midscale, Midscale and Economy segments collectively saw the highest ADR growth in both February and year-end 2012 data."

Of the three markets that experienced double digit growth in occupancy, Abu Dhabi saw the biggest growth, with occupancy increasing by 18.3% to 76.4%. Muscat (Oman) wasn't far behind with a growth of 16.2% to 83.0% and Cape Town, which had the highest total of the 3 at 83.6% after a 13.1% growth made up the 3.

Amman, Jordan experienced the biggest drop with occupancy down 31.9 percent to 53.6%.

Jeddah, Saudi Arabia experienced the biggest average daily rate increase, with a growth of 10.3 percent to US$227.49. This was the only double-digit growth in that metric recorded in the region. Beirut, Lebanon, reported the largest ADR decrease, falling 19.8 percent to US$156.07.

Four markets achieved double-digit RevPAR increases: Abu Dhabi (+24.2 percent to US$143.41); Muscat (+15.8 percent to US$205.47); Jeddah (+10.5 percent to US$179.95); and Dubai, United Arab Emirates (+10.4 percent to US$238.36).

Amman (-25.8 percent to US$83.83) and Beirut (-25.6 percent to US$83.27) reported the largest RevPAR decreases for the month.

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