MEA hotels witness negative results in August
LONDON, September 25, 2015
Hotels in the Middle East and Africa (MEA) region reported negative results in the three key performance metrics when reported in US dollars in August, according to data compiled by STR Global.
The region reported a 1.1 per cent decrease in occupancy to 62.9 per cent, a 1.6 per cent drop in average daily rate (ADR) to $134.53 and a 2.7 per cent decline in revenue per available room (RevPar) to $84.57, it said.
In Kuwait, the occupany declined 7.8 per cent to 39.6 per cent, while ADR was down six per cent to KD65.75 ($217.18) and RevPar decreased 13.3 per cent to KD26.04.
The August supply growth in the country outpaced demand at 2.1 per cent, while the year-to-date demand outweighed supply.
Oman saw decreases in the three key performance measurements with a 3.7 per cent decline in occupancy to 47.5 per cent, a 6.9 per cent drop in ADR to RO65.19 ($168.7) and a 10.4 per cent decrease in RevPar to RO30.94.
According to STR Global analysts, the months during and post-Ramadan have produced weak performance results in Oman during the last five years. Over the same years, performance has improved in September and October.
Meanwhile, Doha reported decreases in occupancy of 6.7 per cent to 61.1 per cent and RevPar at 5.9 per cent to QR387.24 ($106.24). The ADR in the market was up 0.8 per cent to QR633.75. - TradeArabia News Service
