LONDON—The Middle East/Africa region reported mixed performance results during March 2011 when reported in U.S. dollars, according to data compiled by STR Global.
The region’s occupancy ended the month with a 12.9-percent decrease to 57.8 percent, its average daily rate rose 9.0 percent to US$172.89, and its revenue per available room fell 5.1 percent to US$99.98.
In first quarter of 2011, the Middle East/Africa region’s occupancy fell 7.8 percent to 56.8 percent, its ADR was up 9.4 percent to US$176.31, and its RevPAR experienced a slight increase, rising 0.9 percent to US$100.17.
“Hotel performance across Northern Africa and parts of the Middle East continue to be influenced by events in the region”, said Elizabeth Randall, managing director of STR Global. “The most significant monthly RevPAR declines (in local currency) of the countries we track were reported in Bahrain (-79 percent) and Egypt (-68 percent). Occupancy is the main driver of the declines, as both markets reported occupancies of only 25 percent.
“Despite these events, the Middle East/Africa region again achieved the highest average room rate of the four world regions (US$176) and ended the first quarter with a slight RevPAR growth resulting from declining occupancy levels and growing average room rates. The declining occupancy levels should be a temporary feature, and we expect to see improvement as soon as the political situation in each country stabilises”.
Highlights among the region’s key markets for March include (year-over-year comparisons, all currency in U.S. dollars):
• Abu Dhabi, United Arab Emirates, experienced the only double-digit occupancy increase, rising 13.0 percent to 71.2 percent.
• Cairo, Egypt, fell 67.9 percent in occupancy to 23.3 percent, reporting the largest decrease in that metric, followed by Beirut, Lebanon, with a 25.0-percent decrease to 47.9 percent.
• Johannesburg, South Africa, rose 17.0 percent in ADR to US$119.33, reporting the largest increase in that metric.
• Abu Dhabi posted the largest decrease, falling 21.3 percent to US$176.72.
• Three markets experienced RevPAR increases of more than 5 percent: Cape Town, South Africa (+8.5 percent to US$109.67); Johannesburg (+7.1 percent to US$66.71); and Jeddah, Saudi Arabia (+5.2 percent to US$137.02).
• Three markets ended the month with RevPAR decreases of more than 20 percent: Cairo (-70.0 percent to US$27.40); Beirut (-29.9 percent to US$91.49); and Amman, Jordan (-20.4 percent to US$76.76).
Performances of key countries in March (all monetary units in local currency):
|
Country
|
Occupancy
|
% change
|
ADR
|
% change
|
RevPAR
|
% change
|
|
Egypt
|
24.9%
|
-68.2%
|
EGP457.08
|
+0.5%
|
EGP113.89
|
-68.1%
|
|
Saudi Arabia
|
68.0%
|
+8.5%
|
SAR644.82
|
+2.8%
|
SAR438.44
|
+11.6%
|
|
South Africa
|
59.5%
|
+0.4%
|
ZAR873.02
|
-0.4%
|
ZAR519.79
|
+0.1%
|
|
United Arab Emirates
|
78.4%
|
+9.5%
|
AED810.32
|
-5.2%
|
AED635.39
|
+3.9%
|
*percentages are increases/decreases for March 2011 vs. March 2010
View Global Hotel Review for March.
Media contacts:
Konstanze Auernheimer
Director of Marketing & Analysis
STR Global
KAuernheimer@strglobal.com
+44 (0)207 922 1961
Jeff Higley
VP, Digital Media & Communications
jeff@str.com
+1 (615) 824-8664 ext. 3318
Rachael Spann Urie
Communications Coordinator
rurie@str.com
+1 (615) 824-8664 ext. 3305
