Hotels in Abu Dhabi posted double digit growth in Revenue Per Available Room (RevPAR) in January on the back of strong growth in occupancy levels and Average Room Rates (ARR), according to the latest HotStats survey of full-service hotels in five MENA cities by TRI Hospitality Consulting.
Following on from the success of the previous 12 issues of the EMEA Hotels Monitor, we would like to welcome you to Issue 13. The aim of the Hotels Monitor is to provide our clients and contacts with a quick reference booklet listing those vital statistics which reflect the relative health of our exciting industry across the EMEA region. The monitor incorporates hotel performance statistics from STR Global, an up to date guide on development costs from Rider Levett Bucknall and a selection of interesting deals transacted in the previous six months, courtesy of Whitebridge Hospitality. For this edition's back-page feature we have invited ISG to pen a brief article on the ticking time bomb that is capex and the need to refurbish older properties in the Middle East in order to maintain performance levels.
One of the key strengths of the Serviced Apartment Business Model is its versatility, hence being able to change the target market profile between long and short stay to suit market conditions in order to achieve revenue maximization. Brand Strength is a strong driver of serviced apartment demand with GDS, Direct Bookings, and Hotel Website bookings accounting for 40% of total bookings. A strong brand with a regional presence and strong online capabilities is essential to help and drive sales in all three markets (UAE, KSA, Qatar).
Hotels in Abu Dhabi registered substantial growth in revenues and profits during the month of October 2013, according to the latest HotStats survey by TRI Hospitality Consulting Middle East. Abu Dhabi hotels witnessed a boost to key performance metrics in the wake of the Eid Al Adha holidays and the city hosting a number of internationally renowned events. Occupancy levels in Abu Dhabi went up by 8.4 percentage points to 79.6% and Average Room Rate (ARR) increased by 16.8% to US$182.37 during the month, boosting Revenue Per Available Room (RevPAR) by 30.6% to US$145.13. The growth in the top line performance caused a surge in profit levels during the month as the Gross Operating Profit Per Available Room (GOPPAR) reached US$117.43, up by 47.3% compared to the same period in 2012.
More than 5.5 million tourists visited Dubai in the first half of 2013, representing an 11.1 per cent year-on-year increase, indicating that Dubai is on the way to achieving its Tourism Vision for 2020. The first half visitor number results, released by Dubai’s Department of Tourism and Commerce Marketing (DTCM) today, show increases across all key indicators, including hotel establishment guests, hotel and hotel apartment revenues, room occupancy and average length of stay.
Hotels in Abu Dhabi illustrated a 17.1% increase in Revenue per Available Room (RevPAR) driven by a 16.7 percentage point growth in occupancy from the previous year, according to the latest HotStats survey of full service four and five star hotels by TRI Hospitality Consulting Middle East.
The 2013 edition of the Middle East Hotel Survey presents the conventional, key performance indicators (KPIs) as achieved in the various cities and destinations throughout the region, and provides an overview of the development pipeline for hospitality assets. This year's report features the aggregate of KPIs based on 436 hotels, representing roughly 115,000 rooms in 45 cities, which represents an estimated increase of 10.6% in terms of rooms. Moreover, the 2013 edition of the hotel survey provides an indication of the maximum supportable investment that an owner or an organisation ought to budget when developing a hospitality product. A number of key assumptions were involved in the preparation of the maximum supportable investment, the details of which are articulated throughout this report.
After the slump witnessed in 2009 and 2010, the Dubai hotel market has resumed growth in terms of occupancy and average rate under all submarkets. This can be primarily attributed to the resumption of travel from main feeder markets such as European countries, combined with the redirection of demand from neighbouring countries due to unstable political conditions. Furthermore, Emirates Airlines bolstered growth, increased frequency of flights to feeder markets and introduced new routes, which has led to the influx of additional feeder markets and has encouraged visitation to Dubai.
Hotels in Abu Dhabi and Dubai capitalised on a surge in GCC demand in March driven by the spring break for schools in the region, which was complemented by an array of cultural, sports and other events, according to the latest HotStats survey of full service four and five star hotels by TRI Hospitality Consulting.
Hotels in Dubai continued to surpass previous year performances as regional and international tourists flock to the city for the 18th Dubai Shopping Festival, boosting key performance indicators across the market, according to the latest HotStats survey of full service four and five star hotels by TRI Hospitality Consulting.
In 2012 leisure spending is estimated to have risen by 1.1% while business spending was estimated to have fallen by 4.5%. Domestic spending is estimated to have fallen by 5.8% in 2012 whilst international spending is estimated to have grown by 5.7%. These trends are indicative of increased international leisure travel over the past year. • Leisure Markets made a strong recovery in 2012 with strong performance indicators in Sharm El Shekh, Hurghada and Alexandria
“May you live in interesting times!” They say this amiable-sounding invocation is in fact a Chinese curse, the implication being that the quiet life is preferable. Alas, we certainly do live in interesting times, with at least half the region in serious disarray. For hoteliers, the Arab Spring has cast serious doubts over Egypt, Bahrain and most of the Maghreb and the Levant countries as safe destinations in which to risk a business trip or a vacation.
Egypt´s tourism is on the verge of a comeback:. In spite of considerable turndowns due to the revolution, especially wellness hotels on the shores of the Red Sea as well as on the Sinai Peninsula have regained a utilization rate of 60- 70%. By the end of the year twelve million visitors from abroad are expected. Back in 2010 Egypt had welcomed 15 million visitors.
Hotels in Dubai saw a boost in profits and occupancy levels in June following increase in demand from domestic and regional travellers during the summer festival, according to the latest survey by TRI Hospitality Consulting. The HotStats survey, conducted in six Middle East and North African cities, said Dubai hotels continued their strong performance last month with a 9.2 per cent increase in average room rate.
Hotel occupancy performance in Abu Dhabi following the Formula 1 Grand Prix that took place last weekend (11th-13th November) was up compared to 2010, but remained lower than the first race weekend in 2009, according to STR Global, the leading provider of market data to the world's hotel industry.
Demand growth in Dubai's hotel industry was up 16.5 percent year-to-date August compared to the previous year, according to STR Global, the leading provider of market information to the global hotel industry. However, demand growth in terms of total rooms occupied and new hotel supply were unequally spread between all six segments tracked.
Dubai’s hotels witnessed an increase in occupancy of 3.3 per cent in December as compared to the same month in 2009 to reach 71 per cent during 2010, said a report. However, the city’s hotels witnessed a decline of 4.2 per cent in revenue per available room (RevPAR) to reach $154 during YTD December 2010, said an analysis of selected STR Global hotel performances by Deloitte, a leading professional services firm.
The new year will see stronger signs of recovery by the hospitality sector given the upward trends seen in the last quarter of 2010. UAE’s hospitality and tourism sector has been showing signs of resurgence with higher occupancy rates driven by a surge in tourist arrivals towards the fag end of 2010. However, with thousands of new rooms being added to the markets in Dubai and Abu Dhabi, there has been a slight drop in the overall revenue per available room, or RevPAR, last year.
Room prices at Dubai’s Armani Hotel, which occupies the first six floors of the Burj Khalifa, are trading at 40 percent down from the published rates at launch, Arabian Business can reveal. Seven months after its opening, a standard room at the 160-room Armani hotel will now set back guests AED2,400 ($653) compared to a rate card price of AED4,000 at the end of April. The cost of a two bedroom suite, originally priced at AED40,000, can now be snapped up for AED24,000, according to the hotel’s reservations desk.
Dubai’s hospitality sector continues to outperform other markets in the world as the emirate recorded the highest occupancy rate during the first eight months of the year compared to other selected key regions in the same period, according to a latest study. Hotels in Dubai topped in occupancy rate that reached to the level of 69.7 per cent after witnessing a 2.8 per cent rise, compared to same period a year ago, according to Deloitte’s analysis of STR Global Hotel Performance Data for the Middle East.