STR's preliminary November 2017 data for Dubai, United Arab Emirates, indicates significant growth in supply and demand. Based on daily data from November, Dubai reported the following in year-over-year comparisons:
Whilst hotels in the Middle East and Africa successfully recorded a 1.9% year-on-year increase in GOPPAR this month, the periods of decline recorded across 2017 threaten to undermine the positive months of performance, according to the latest worldwide poll of full-service hotels from HotStats.
Hotels in the Middle East reported mixed performance results during October 2017, while hotels in Africa posted growth across the three key performance indicators, according to data from STR.U.S. dollar constant currency, October 2017 vs. October 2016Middle East
STR's October 2017 Pipeline Report shows 166,774 rooms in 580 hotel projects Under Contract in the Middle East and 55,094 rooms in 299 projects Under Contract in Africa.
STR's preliminary October 2017 data for Abu Dhabi, United Arab Emirates, indicates high demand and strong performance growth.Based on daily data from October, Abu Dhabi reported the following in year-over-year comparisons:
For the year ending 30 June 2017, PwC around the world reported total gross revenues of US$37.7 billion. At constant exchange rates, revenues grew by almost 7%, marking 20 years of consecutive revenue growth for the PwC network. In the Middle East, the firm registered an 8% revenue increase and solid growth across the board.
Following a summer of mixed fortunes, which included a welcome year-on-year increase in profit per room in August, hotels in the Middle East & Africa were back to business as usual this month as GOPPAR levels sunk by 17.1% year-on-year, according to the latest worldwide poll of full-service hotels from HotStats.
September typically marks a return to 'normal' trading conditions for hotels in the Middle East & Africa following the disruption during the summer, and with room occupancy levels this month (66.7%) well ahead of the average for the preceding three-month 'summer' period at 57.5%, they looked to be back on track.
Hotels in the Middle East reported negative performance results during Q3 2017, while hotels in Africa posted growth across the three key performance indicators, according to data from STR.U.S. dollar constant currency, Q3 2017 vs. Q3 2016Middle East
STR's September 2017 Pipeline Report shows 164,497 rooms in 574 hotel projects Under Contract in the Middle East and 55,349 rooms in 299 projects Under Contract in Africa. Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.The Under Contract total in the Middle East represents a 3.4% increase in rooms Under Contract compared with September 2016. Specifically in the In Construction phase, the Middle East reported 96,694 rooms in 302 projects. Based on number of rooms, that is a 15.9% increase in year-over-year comparisons.
STR's preliminary September 2017 data for hotels in Jeddah, Saudi Arabia, indicates strong performance growth.Based on daily data from September, Jeddah reported the following in year-over-year comparisons:
STR's preliminary September 2017 data for Dubai, United Arab Emirates, indicates performance declines consistent with significant supply growth. Based on daily data from September, Dubai reported the following in year-over-year comparisons:
Hotels in the Middle East & Africa recorded a 6.6% year-on-year GOPPAR increase in August, which was only the third month this year in which profit growth has been achieved, providing a welcome respite from a challenging trading period, according to the latest worldwide poll of full-service hotels from HotStats.
Hotels in the Middle East reported mixed performance results during August 2017, while hotels in Africa posted growth across the three key performance indicators, according to data from STR.U.S. dollar constant currency, August 2017 vs. August 2016Middle East
Laurent A. Voivenel, Senior Vice President, Operations and Development for the Middle East, Africa and India, Swiss-Belhotel International, was among the top speakers today at The Hotel Show being held at the Dubai World Trade Centre from 18 to 20th September, 2017. Speaking at the Middle East Hospitality Leadership Forum, Laurent participated in a panel discussion on the booming mid-market in Dubai and its ongoing effect on 4* & 5* operators.
STR's preliminary August 2017 data for Jeddah, Saudi Arabia, indicates lower occupancy levels but higher rates amid significant supply growth. Based on daily data from August, Jeddah reported the following in year-over-year comparisons:
STR's preliminary August 2017 data for Abu Dhabi, United Arab Emirates, indicates performance declines consistent with significant supply growth. Based on daily data from August, Abu Dhabi reported the following in year-over-year comparisons:
For hotels in the Middle East & Africa, July marked a low in recent top and bottom line performance as demand levels remained soft during the stifling summer months, according to the latest worldwide poll of full-service hotels from HotStats.
Hotels in the Middle East reported negative results during July 2017, while hotels in Africa recorded growth across the three key performance metrics, according to data from STR.U.S. dollar constant currency, July 2017 vs. July 2016Middle East
STR's preliminary July 2017 data for Dubai, United Arab Emirates, indicates steep performance declines consistent with the year-to-year shift in Ramadan dates. Based on daily data from July, Dubai reported the following in year-over-year comparisons:
With the number of new rooms in Dubai slated to exceed 120,000 by 2019, hotel owners and operators in the city must become increasingly innovative to stand out in one of the world's most crowded hospitality markets.