Middle East RevPAR outshines U.S., Europe
Recent events involving the global economy have had a huge effect on the hospitality industry. The recession that started in the United States is beginning to spread across Europe, creating trouble for many hotels. Hotels in the Middle East seem to be holding steady—despite recent declines in occupancy throughout the area, they are, for the most part, still seeing slight increases in room rates. This is similar to the situation throughout the U.S., where, despite hints of a recession and falling levels of occupancy and demand, hotels have been able to keep average daily rate growing.