The Middle East/Africa region reported positive performance results during February 2014 when reported in U.S. dollars, according to data compiled by STR Global.
The region reported a 1.3-percent increase in occupancy to 67.4 percent, a 2.7-percent increase in average daily rate to US$177.42 and a 4.0-percent increase in revenue per available room to US$119.55.
“The Middle East still is driving performance in the region”, saidElizabeth Winkle, managing director of STR Global. “Jordan, Oman and Saudi Arabia are all posting both occupancy and ADR growth (in local currency). Jordan and Bahrain are reporting the largest occupancy growth. Dubai is still reporting high occupancy; the new supply coming in is being absorbed and we are seeing double-digit rate growth”.
Highlights among the Middle East/Africa region’s key markets for February 2014 include (year-over-year comparisons, all currency in U.S. dollars):
* Three markets reported double-digit occupancy growth: Manama, Bahrain (+39.0 percent to 63.2 percent); Doha, Qatar (+13.9 percent to 76.9 percent); and Amman, Jordan (+10.2 percent to 59.3 percent).
* Three markets reported double-digit occupancy growth: Manama, Bahrain (+39.0 percent to 63.2 percent); Doha, Qatar (+13.9 percent to 76.9 percent); and Amman, Jordan (+10.2 percent to 59.3 percent).
* Beirut, Lebanon, fell 25.2 percent in occupancy to 39.4 percent, posting the largest decrease in that metric. The market also reported the largest decrease in RevPAR, falling 31.4 percent to US$55.61.
* Dubai, United Arab Emirates, achieved the largest ADR increase, rising 9.7 percent to US$286.99.
* Abu Dhabi, United Arab Emirates (-22.9 percent to US$148.72) reported the largest ADR decrease in February.
* Manama jumped 37.7 percent in RevPAR to US$120.11, experiencing the largest increase in that metric, followed by Amman with a 15.2-percent increase to US$97.16.
Source: STR Global.
