STR releases preliminary August 2016 data for Dubai
STR's preliminary August 2016 data for Dubai, United Arab Emirates, indicates mixed performance results.Based on daily data from August, Dubai reported the following in year-over-year comparisons:
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STR releases preliminary July 2016 data for Abu Dhabi
LONDON -- STR's preliminary July 2016 data for Abu Dhabi, United Arab Emirates, indicates occupancy growth and lower rates. Based on daily data from July, Abu Dhabi reported the following in year-over-year comparisons:
Qatar hospitality sector feels impact of additional supply | gulf-times.com
Almost 5,000 hotel keys have been added to Qatar’s stock over the past 18 months and the additional supply has started to impact performance measures in the second quarter of 2016, a DTZ executive says. Occupancy levels fell 64% in April 2016 compared to 72% in the same month in 2015, while average daily rates also experienced a year-on-year (y-o-y) fall of 6.5% from QR551 in April 2015 to QR515 in April 2016, said DTZ associate director – Consulting and Research Johnny Archer. Speaking before stakeholders yesterday at the launching of DTZ’s “Q2 2016 Qatar Market Report,” Archer said revenue per available room fell by 17.8% from QR399 in April 2015 to QR328 in April 2016.
HVS Israel Hotel Market Overview 2016
International interest of hotel operators and chains continues to be strong despite volatile visitation numbers given the prevailing geo-political instability in Israel. This article explores the hotel performance and development pipeline in Israel.
By Russell Kett and Jill Barthel
HotStats MENA Chain Hotels Market Review – May 2016
Despite significantly reducing both overhead and labour costs, hotels in Abu Dhabi were unable to offset the decline in revenue across the major operating departments this month and as a result year-on-year profit per room dropped by 6.9%, according to the latest data from HotStats.
Dubai Tourism - Statistics And Trends [Infographic]
Holding some of the biggest modern manmade marvels, Dubai is one city that can't be missed to visit. It homes 7 of the 10 tallest hotels in world and the tallest building, the Burj Khalifa. The Building is so tall that people on the top floors have to wait a while longer than those on the ground to break their fast. From hotels and manmade beaches to upcoming climate controlled cities, Dubai has accomplished incredible feats engineering on the harshest of environments.
STR releases preliminary May 2016 data for Abu Dhabi
STR's preliminary May 2016 data for Abu Dhabi, United Arab Emirates, indicates higher occupancy levels and lower rates.Based on daily data from May, Abu Dhabi reported the following in year-over-year comparisons:
Saudi Arabia hospitality sector adapts to millennial needs | tradearabia.com
Millennial travellers are forecast to become the dominant consumer group globally by 2020, yet the future appears closer for Saudi Arabia, a new report has unveiled.
A report by Euromonitor International prepared for The Hotel Show Saudi Arabia reveals that in 2016, 10.3 million people or 32 per cent of the kingdom’s population are classed as millennials or young adults (aged 18–36). Meanwhile, 27 million domestic trips are forecast to be made by Saudi travellers this year.
STR releases preliminary April 2016 data for Dubai
STR's preliminary April 2016 data for Dubai, United Arab Emirates, indicates year-over-year performance declines.Based on daily data from April, Dubai reported the following in year-over-year comparisons:
HotStats MENA Chain Hotels Market Review – March 2016
The rate of decline in top line revenue performance at Doha hotels has accelerated in the first three months of 2016 as the city, and wider Qatar economy, continues to face challenges, according to the latest data from HotStats.
STR: Dubai a world leader in Q1 ADR
STR data shows that Dubai, United Arab Emirates, recorded 2016's highest first-quarter average daily rate (ADR) among major markets around the world. This marked the 12th consecutive year that Dubai has led this group of markets in Q1 ADR when reported in U.S. dollar constant currency*.
STR: Middle East and Africa hotel performance for Q1 2016, March 2016
Hotels in the Middle East reported negative results, while hotels in Africa reported mixed results for the three key performance metrics when reported in U.S. dollar constant currency, according to Q1 2016 data from STR.
Bright Outlook Expected for Dubai Spa Market | Colliers International Hospitality
Despite growing competition, a bright outlook is anticipated for the Dubai spa market according to a report issued today by Colliers International, a global leader in real estate advisory services. The report, which features the results from a survey completed by 25 leading spa operators between January – February 2016, lists the key challenges faced by operators in 2015, top 3 guest nationalities and expectations for 2016.
Oil crisis enables hospitality revolution | ehotelier.com
The Kingdom of Saudi Arabia is on the brink of a revolution. This revolution will be neither political nor ideological. Instead, it will come in the form of keys — hundreds of them, representing millions of dollars’ worth of investment. In the wake of plummeting oil prices resulting from the uneasy mixture of oversupply and tightening Chinese demand, one could be forgiven for believing that the Kingdom’s economy is approaching a state of crisis. However, the Organization of the Petroleum Exporting Countries (OPEC) giant has long been prepared to ride out this period of financial turbulence. Long before the oil prices began to dip, the government was prepared to deal with the budget gap created by diminished oil revenue.
HotStats MENA Chain Hotels Market Review – November 2015
Performance levels plunge for Dubai and Sharm El Sheikh hotels. Five and four star hotels in Dubai continued to experience weakening average room rates (ARR) in November, falling 6.9% to US$315.03, whilst occupancy levels remained strong, albeit marginally lower than the same period last year at 84.9%. The 8.1% decrease in revenue per available room (RevPAR) was compounded by significantly lower food and beverage revenues which fell 12.0%, driving total revenue per available room (TRevPAR) 10.9% lower, to US$449.80. Higher operating expenses compounded lower overall revenues, reducing gross operating profit per available room (GOPPAR) by 15.8% to US$214.83.
Spirit of Dubai!
I came to Dubai in the year 1999 and has been a great journey until now, thanks to this City! I have seen it transition from empty desert in to a booming economy and a great City. The Government of Dubai is immensely pro-active in its approach for the continuous development of Dubai to give new experiences to its citizens, expatriates and the tourists alike. This differentiates Dubai from many other destinations and its hospitality has become synonymous to the destination Dubai.
By Chandrashekhar Iyer, CHA, FIH(UK), Director – Hospitality, Tourism & leisure, Crowe Horwath, Dubai, Crowe Horwath International
HotStats MENA Chain Hotels Market Review – July 2015
Abu Dhabi Hotels reported a 27.2% growth in revenue per available room (RevPAR) to US$73.01 in July, driven by a 10.5 percentage point rise in occupancy levels to 60.8%. The improvement in RevPAR can also be attributed to an average room rate (ARR) growth of 5.2% to US$120.05. The rise in room revenues helped offset the decline in food and beverage sales during the month and translated to a 19.9% increase in total revenue per available room (TRevPAR). A growth in overall revenue helped hotels in the city increase gross operating profit per available room (GOPPAR) to US$11.40.
Trends and Opportunities: Israel Hotel Market Overview 2015
Numerous international companies are showing increased interest in the Israeli hotel market. This article provides an insight into the country's tourism demand, its hotel market and hotel values and investment.
By Jill Barthel and Russell Kett
HotStats MENA Chain Hotels Market Review – April 2015
In April, a 10.8 percentage point reduction in occupancy levels to 62.3% had a direct impact on the performance of Amman hotels. The lower demand during the month saw both average room rate (ARR) and revenue per available room (RevPAR) fall by 4.3% and 18.5% respectively to US$154.94 and US$96.48. Hotels were able to offset the decline in room revenue with stronger food and beverage demand, which increased by 19.0% and 4.7%. Hotel profits were impacted by higher operating expenses, falling by 25.1% to US$55.26.
Middle-East Hotels Face Supply Glut According to PwC’s Middle East Hotel Forecast Report
This first edition of our Middle East cities hotel forecast is published amidst some of the fastest growing tourism and hotel markets in the world. There are six cities in this new Middle East econometric forecast - Abu Dhabi, Doha, Dubai, Jeddah, Muscat and Riyadh. All are important gateway or capital cities and/or business and tourism destinations. Some are emerging as magnets for Meetings, Incentives, Conferences and Exhibitions (MICE), Mega Events and leisure/ shopping travelers. Some, including Dubai and Doha are heading at breakneck speed into the future. Dubai will host the Expo in 2020 and Qatar the FIFA World Cup in 2022. Although outside the parameters of this forecast, planning is already heavily underway and will mean significant new supply preparations.