LONDON—The Middle East/Africa region reported increases in all three key measurements for March 2010 when reported in U.S. dollars, according to data compiled by STR Global.
The region’s occupancy rose 2.9 percent to 67.6 percent, average daily rate increased 3.6 percent to US$161.75, and revenue per available room grew 6.6 percent to US$109.29.
“Hotels in the Middle East/Africa region posted their second month of RevPAR growth in March, finishing the first quarter with a 1-percent increase”, said Elizabeth Randall, managing director of STR Global. “The region’s performance was pushed up by strong results from African hotels whilst Middle Eastern hotels reported RevPAR declines for the month and the quarter.
“However, March was the second month Middle Eastern hotels reported occupancy increases and less severe ADR declines, indicating the region has started to recover”, Randall continued. “Furthermore, Middle Eastern hotels reported the highest ADR with US$212 of all world sub-regions for the month of March.”
Highlights among the region’s key markets for March include (year-over-year comparisons, all currency in U.S. dollars):
• Muscat, Oman, reported the only double-digit occupancy increase, rising 15.5 percent to 69.1 percent.
• Four markets posted occupancy decreases: Abu Dhabi, United Arab Emirates (-24.2 percent to 64.0 percent); Beirut, Lebanon, (-9.3 percent to 64.8 percent); Johannesburg, South Africa (-7.7 percent to 60.4 percent); and Cape Town, South Africa (-7.3 percent to 66.1 percent).
• Three markets experienced ADR increases of more than 20 percent: Johannesburg (+36.4 percent to US$103.12); Cape Town (+34.3 percent to US$152.76); and Beirut (+23.8 percent to US$201.65).
• Abu Dhabi posted the largest ADR decrease, falling 27.7 percent to US$228.14, followed by Muscat with a 16.3-percent decrease to US$245.89.
• Johannesburg reported the largest RevPAR increase, rising 25.9 percent to US$62.27, followed by Cape Town with a 24.5-percent increase to US$100.97.
• Two markets posted RevPAR decreases: Abu Dhabi (-45.2 percent to US$145.94) and Muscat (-3.4 percent to US$170.03).
Performances of key countries in March (all monetary units in local currency):
|
Country
|
Occupancy
|
% change
|
ADR
|
% change
|
RevPAR
|
% change
|
|
Egypt
|
78.3%
|
+13.2%
|
EGP468.78
|
+7.6
|
EGP366.85
|
+21.8%
|
|
Saudi Arabia
|
63.3%
|
+4.2%
|
SAR638.17
|
+1.0%
|
SAR403.83
|
+5.2%
|
|
South Africa
|
60.4%
|
-6.2%
|
ZAR884.46
|
+2.7%
|
ZAR534.03
|
-3.7%
|
|
United Arab Emirates
|
73.6%
|
-1.0%
|
AED870.72
|
-8.3%
|
AED641.08
|
-9.2%
|
*percentages are increases/decreases for March 2010 vs. March 2009 (Source: STR Global)
View Global Hotel Review for March 2010.
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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