Bahrain hotels see rise in occupancy rates
Manama, January 22, 2013
Bahrain hotels see rise in occupancy rates
Bahrain hotels reported an increase of 7 per cent in occupancy rates overall and by 4 per cent last November, said a report, adding that hotel room profitability has also gone up by nearly 21 per cent.
"The year-to-date (from January to November last year) room yield in Bahrain has increased to 20.7 per cent from 2011, while the average room rate witnessed a 0.4 per cent drop compared to the same period last year," an Ernst & Young Middle East Hotel Benchmark Survey said.
This change is due to several expositions taking place in the kingdom during November, including Jewellery Arabia, the Oil and Gas trade forum and key security talks which included regional heads of state, it added.
“The overall occupancy rate in Dubai was at 80 per cent year-to-date, rising two per cent from same period of last year. In terms of the monthly performance, Dubai’s overall occupancy rate increased to 90.9 per cent, marking a 3.7 per cent increase from November 2011,” said Yousef Wahbeh, Mena head of Transaction Real Estate at Ernst & Young.
Additionally, room yield (RevPAR) increased by 10.8 per cent year-to-date, with average room rate increasing by 7.5 per cent year-to-date.
Compared to November 2011, rooms yield (RevPAR) increased by 3.8 per cent and average room rate marginally decreased by 0.4 per cent in November 2012, the survey said.
The increase is attributed to the high number of forums and conferences from the Banking & Finance sector, Securities sector and the Oil & Gas sector held in Dubai during the month of November.
This represents Dubai’s increasing appeal as a business-friendly environment that continues to attract major investments and international projects in addition to the stable and increasing tourism sector within the city, noted Wahbeh.
With regard to the wider Mena region, overall occupancy rates in Amman increased by 16.0 per cent year-to-date.
“The increase may be attributed to the onset of milder climate conditions, in addition to increased political stability which attracts tourists from the neighboring Levant region. The year-to-date room yield in Amman is 31.7 per cent higher than it was year-to-date in 2011, with the average room rate 3.1 per cent higher than it was year-to-date in 2011,” said the survey.
There were no noticeable changes in Egypt, where cities such as Cairo, Sharm El-Sheikh and Hurgada remained stable in their overall occupancy rates, with Cairo’s occupancy rising 7.0 per cent year-to-date, Sharm El Shaikh’s occupancy grew 12.0 per cent year-to-date, and Hurghada’s occupancy rate grew 8.0 per cent year-to-date.
Sharm Al Shaikh also witnessed the highest year-to-date growth in Egypt in terms of Rooms Yield, of 16.3 per cent compared to the same time period in 2011. In terms of monthly performance, Cairo’s occupancy rate improved 11 per cent compared to November 2011, with Sharm El Shaikh increasing 6.0 per cent and Hurghada 5.0 per cent compared to November 2011.
Additionally, Saudi Arabia experienced noticeable increases in occupancy rates, with Jeddah increasing by 7.0 per cent year-to-date, and Madinah increasing 2.0 per cent year-to-date. Compared to November 2011, Riyadh’s occupancy rate increased by 17.0 per cent in November 2012. This is accredited to the various initiatives undertaken by the city to showcase lost artifacts and the introduction of new cultural experiences to the city.
“The improving climate in the UAE and increased political stability in the region are setting up for a successful incline in hotel occupancy. The peak season has commenced strongly, and we expect this to continue throughout the upcoming months especially with the onset of the Dubai Shopping Festival,” Wahbeh said. - TradeArabia News Service
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