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.
Hotels in Cairo recorded a 42.4 per cent year-on-year increase in profit per room this month as the city's hoteliers enjoy a well-earned resurgence in line with the economic recovery of Egypt, according to the latest data from HotStats.
Hotels operated by HMH – Hospitality Management Holding in the UAE exceeded expectations with an outstanding year-to-date performance. While Bahi Ajman Palace Hotel recorded an impressive 23 per cent growth in revenue, Coral Beach Resort Sharjah and Coral Dubai Deira averaged between 5 to 10 per cent increase in revenue year on year.
Tourism officials in Jordan have been reviewing developments in the country's tourism sector as revenues from 2016 are on par with takings from 2015 despite a reported rise in the number of visitors to the Western Asian kingdom. Jordan is home to an incredible 100,000+ sites of religious and archaeological sites and spectacular landmarks that draw tourists from all around the world, namely the historical cities of Petra and Jerash, and biblical sites including Al-Maghtas and Mount Nebo. These sites are significant to both Islamic and Christian faiths, but Jordan also sees visitors coming for the purposes of medical tourism, where people come to receive medical attention that cannot be found in other places in the region.
The Middle Eastern country of Oman is the subject of some reimagining of its potential from within the region. A panel discussion by the Majlis al-Shura, the region's political and advisory body, stated that more was to be done to tap into the underexploited resource of Oman's tourism industry. According to a report by the Committee on Addressing the Economic Crisis and its Impact on the Society, Oman should be monitoring tourism patterns and activities and investigating ways in which the culture, heritage and geography of Oman could be used to increase the tourism sector in the area so that it would benefit the economy.
STR's preliminary April 2017 data for Abu Dhabi, United Arab Emirates, indicates occupancy growth and lower room rates. Based on daily data from April, Abu Dhabi reported the following in year-over-year comparisons:
Catalysts of Change including the shift in global economic powers, demographics and ageing populations, and the impact of digitisation were some of the hot topics discussed live on stage during the opening sessions of the Arabian Hotel Investment Conference 2017 (AHIC), being held at Madinat Jumeirah in Dubai from 25-27 April, 2017 and organised by Bench Events and MEED.
Driven by an active pipeline of new openings combined with an enhanced focus on bringing mid-market offerings to the region, Louvre Hotels Group, one of the largest hospitality groups in the world, continues to shape its wider growth strategy in the Middle East and North Africa (MENA). Louvre Hotels is looking ahead to the opening of 10 new hotels in MENA by the end of 2017, which will add 1,600 keys to its current room inventory, exceeding the 11,000 milestone. In 2016 alone, Louvre launched 12 properties in key markets including UAE, Qatar, Saudi Arabia, Algeria, Tunisia and Lebanon and expects to open no less than 10 hotels per year leading up to 2020 and beyond.
The hotel industry in Dubai, United Arab Emirates, recorded strong occupancy levels during the first quarter of 2017 despite continued and significant supply growth, according to data from STR.Based on preliminary data, Dubai recorded an occupancy level of 86.3%, which was a 2.7% uplift compared with Q1 2016. Average daily rate (ADR) was down 6.4% over the same time period to an actual level of AED795.00. As a result, revenue per available room (RevPAR) decreased 3.9% to AED686.00. Because Dubai has seen two years with consistent RevPAR declines, STR analysts see the Q1 occupancy growth as an indicator of performance recovery. "A factor that likely played a big role in Dubai's occupancy growth was the UAE government's recent decisions to grant visas on arrival for Chinese and Russian nationals," said Philip Wooller, STR's area director for the Middle East and Africa. "While Dubai continues to add new supply, it also continues to add new leisure attractions, and expanding the market's range of potential visitors can only help drive hotel demand and profitability."Occupancy increases were mainly pushed by the middle and lower tier hotel classes. Dubai's Midscale and Economy classes experienced a combined 7.2% year-over-year increase in occupancy, while Luxury hotels posted more moderate growth of 0.7%. Upper Upscale hotels reported a 1.1% decline. STR analysts note that the Midscale and Economy classes experienced less substantial supply growth compared with other classes during Q1, although the Upper Midscale class, which recorded the highest rate of supply growth (+13.9%), also posted a substantial increase in occupancy (+6.7%).
Ahead of next week's Arabian Hotel Investment Conference 2017 (AHIC), being held at Madinat Jumeirah in Dubai from April 25 to 27, its speakers have unveiled insights into the global trends and market sentiment that are currently making an impact on the hospitality industry across the Middle East.