Hotels in the United Arab Emirates (UAE) and Bahrain ranked amongst the best performers in the Middle East and Africa (MEA) region during the first half of 2014, reported Arabian Business, quoting STR Global as saying.
While the Middle East (ME) reported mixed results for H1, STR Global said, the UAE, Bahrain and Jordan were the stand-out performers, with Bahrain reporting a growth of 18.3% in revenue per available room (RevPAR).
Commenting on the region's performance in H1, Elizabeth Winkle, managing director of STR Global, said: “While there has not been a lot of movement in occupancy, rate has increased by 5.4% when measured in a constant-currency basis in US dollars, resulting in RevPAR growth of 6.4% for the first six months of the year.”
“We are seeing rate growth for all three sub-regions, including the Middle East (+2.4%), Northern Africa (+2.0%) and Southern Africa (+7.2%). It is nice to see some average daily rate (ADR) growth across the region, albeit muted, in spite of instability and turbulence in many of the countries,” she added, noting that affected by Ramadan, the ME has reported a mixed picture for the first six months of the year.”
“Jordan and the UAE have been the standout countries so far this year. Coming from a low base, Jordan (+11.4%) and Bahrain (+18.3%) both recorded double-digit RevPAR increases for the first half of the year, in local and constant currency,” Winkle highlighted.
For June, the MEA region reported a one percent increase in occupancy to 64.6%, a 3.5% rise in ADR to $169.22 and a 4.5% rise in RevPAR to $109.24.
Meanwhile, Doha reported the largest rise in occupancy in June with an added 17.4% to 75.2%, STR Global said, noting that Jeddah and Manama posted the best ADR results, with Jeddah posting a 12.0% increase to $282.62, followed closely by Manama with an 11.9% rise to $212.73.
It is worth noting that Riyadh posted the biggest ADR drop, registering a 6.9% decline to $221.47, data by STR Global noted, adding that Manama, recording a 27.5% surge to $123.12 and Doha, registering a 15.6% to $130.05 were among the best RevPAR performers in June.
While the Middle East (ME) reported mixed results for H1, STR Global said, the UAE, Bahrain and Jordan were the stand-out performers, with Bahrain reporting a growth of 18.3% in revenue per available room (RevPAR).
Commenting on the region's performance in H1, Elizabeth Winkle, managing director of STR Global, said: “While there has not been a lot of movement in occupancy, rate has increased by 5.4% when measured in a constant-currency basis in US dollars, resulting in RevPAR growth of 6.4% for the first six months of the year.”
“We are seeing rate growth for all three sub-regions, including the Middle East (+2.4%), Northern Africa (+2.0%) and Southern Africa (+7.2%). It is nice to see some average daily rate (ADR) growth across the region, albeit muted, in spite of instability and turbulence in many of the countries,” she added, noting that affected by Ramadan, the ME has reported a mixed picture for the first six months of the year.”
“Jordan and the UAE have been the standout countries so far this year. Coming from a low base, Jordan (+11.4%) and Bahrain (+18.3%) both recorded double-digit RevPAR increases for the first half of the year, in local and constant currency,” Winkle highlighted.
For June, the MEA region reported a one percent increase in occupancy to 64.6%, a 3.5% rise in ADR to $169.22 and a 4.5% rise in RevPAR to $109.24.
Meanwhile, Doha reported the largest rise in occupancy in June with an added 17.4% to 75.2%, STR Global said, noting that Jeddah and Manama posted the best ADR results, with Jeddah posting a 12.0% increase to $282.62, followed closely by Manama with an 11.9% rise to $212.73.
It is worth noting that Riyadh posted the biggest ADR drop, registering a 6.9% decline to $221.47, data by STR Global noted, adding that Manama, recording a 27.5% surge to $123.12 and Doha, registering a 15.6% to $130.05 were among the best RevPAR performers in June.
Source:
Mubasher
