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STR Global posts Middle East/Africa March 2009 results
28 April 2009

Deloitte & Touche

The Middle East/Africa region reported mixed year-over-year results when reported in U.S. dollars for March 2009, according to data compiled by STR Global.

The region’s occupancy dropped 11.0 percent to 66.3 percent; average daily rate decreased 5.6 percent to US$159.04; and revenue per available room decreased 16.0 percent to US$105.51.

“The pain continues for Egypt and Dubai, two of the biggest success stories in 2007 and 2008,” said James Chappell, managing director of STR Global. “Both markets fell heavily in RevPAR in March: Although Egypt’s year-to-date figures are slightly better at -12.5 percent, Dubai has lost over 30 percent in the first quarter of 2009.

“Abu Dhabi, Beirut and Jeddah are the three out of 11 cities reviewed by our Middle East Hotel Review, which grew their RevPAR in quarter one,” Chappell continued. “Beirut continued to recover from its low performance due to the political unrest in recent years. Abu Dhabi’s good Q1 performance was boosted by good results in the first two months of 2009, but, unfortunately, its March results were flat against last year.”

Highlights from key markets in the Middle East/Africa region (percentages are March 2009 vs. March 2008):

Performances of key countries in March (all monetary units in local currency):
Country Occupancy % change ADR % change RevPAR % change
Egypt 70.1% -16.9% EGP445.93 -0.7% EGP312.56 -17.5%
Saudi Arabia 63.4% +11.8% SAR688.47 +11.9% SAR436.72 +25.1%
South Africa 64.9% -13.0% ZAR847.62 +2.9% ZAR550.45 -10.5%
United Arab Emirates 76.4% -14.0% AED944.60 -24.3% AED721.22 -34.9%

About STR & STR Global: For more than 20 years, Smith Travel Research has been the recognized leader for lodging industry benchmarking and research. Smith Travel Research and STR Global offer monthly, weekly, and daily STAR benchmarking reports to more than 36,000 hotel clients, representing nearly 5 million rooms worldwide. STR is headquartered in Hendersonville, Tennessee, and STR Global is based in London. For more information, visit www.strglobal.com.

ORGANIZATION
Hospitality NetSTR Global
www.strglobal.com
Blue Fin Building | 110 Southwark Street
London, SE1 0TA
United Kingdom
Phone: +44 (0)207 922 1930
Fax: +44 (0)207 922 1931
Email: info@strglobal.com

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