STR Global findings show strong growth in region’s RevPar
Morocco is leading the region in terms of hotel room demand, according to the latest statistics from STR Global.
Elizabeth Winkle, managing director of STR Global, said the country “is currently reporting the highest demand growth year-to-date 2013 of 20 percent”.
“May YTD 2013 data for Morocco shows a notable increase in occupancy (17.1 percent) and overall RevPAR (5.7 percent) but a decrease in ADR (-9.7 percent),” she added.
The Middle East/Africa region reported positive performance results during May 2013 when reported in U.S. dollars.
The region reported a 4.1-percent increase in occupancy to 62.7 percent, a 5.5-percent increase in average daily rate to US$152.29 and a 9.8-percent increase in revenue per available room to US$95.50.
“With the exception of Southern Africa, the Middle East/Africa region is posting the highest RevPAR growth in U.S. dollar terms among the four major global regions”, Winkle asserted.
Highlights among the region’s key markets for May 2013 include (year-over-year comparisons, all currency in U.S. dollars):
• Muscat, Oman, reported the largest occupancy increase, rising 23.0 percent to 66.3 percent, followed by Doha, Qatar (+15.7 percent to 66.2 percent), and Abu Dhabi, United Arab Emirates (+12.4 percent to 64.7 percent).
• Jeddah, Saudi Arabia (+17.5 percent to US$250.23), and Dubai, United Arab Emirates (+10.5 percent to US$216.22) experienced the largest ADR increases.
• Four markets achieved double-digit RevPAR increases: Muscat (+24.9 percent to US$119.52); Dubai (+18.8 percent to US$173.09); Jeddah (+17.2 percent to US$206.62); and Abu Dhabi (+13.4 percent to US$87.94).
• Beirut, Lebanon, reported the largest decrease in all three key performance metrics. The market’s occupancy fell 12.0 percent to 55.2 percent, its ADR dropped 17.3 percent to US$159.41 and its RevPAR decreased 27.2 percent to US$87.91.
