STR Global posts Middle East/Africa August 2009 results
“With Ramadan taking place 21 August-19 September 2009, the Middle East/Africa region dropped 21 percent in RevPAR for August falling for the first time behind Europe and the Americas in terms of monthly RevPAR declines,” said Elizabeth Randall, managing director of STR Global. “We expect this to be a temporary position. For the year-to-date the region still showed the least declines of all four regions. The RevPAR for most Middle Eastern markets suffered from double-digit occupancy declines as business slowed down.”
Highlights from key markets in the Middle East/Africa region (percentages are August 2009 vs. August 2008):
- Jeddah, Saudi Arabia, was the only market to report a single-digit occupancy decrease, falling 1.3 percent to 75.4 percent.
- Muscat, Oman, reported the largest occupancy decrease, falling 38.2 percent to 35.4 percent, followed by Riyadh, Saudi Arabia, with a 31.5-percent decrease to 38.8 percent.
- Three markets experienced double-digit ADR increases: Beirut, Lebanon (+29.6 percent to US$279.26); Jeddah (+10.6 percent to US$184.48); and Cape Town, South Africa (+10.0 percent to US$110.74).
- Dubai, United Arab Emirates, posted the largest ADR decrease, falling 21.9 percent to US$156.73. Cairo, Egypt, also reported a double-digit ADR decrease, falling 16.2 percent to US$127.03.
- Two markets reported RevPAR increases: Jeddah (+9.2 percent to US$139.13) and Beirut (+6.5 percent to US$209.07).
- Four markets experienced RevPAR declines of more than 30 percent: Muscat (-38.5 percent to US$60.50); Cairo (-36.5 percent to US$73.10); Dubai (-33.6 percent to US$100.46); and Riyadh (-30.1 percent to US$80.67).
|Country||Occupancy||% change||ADR||% change||RevPAR||% change|
|United Arab Emirates||62.7%||-16.2%||AED569.95||-18.8%||AED357.32||-32.0%|
About STR Global
STR Global provides clients—including hotel operators, developers, financiers, analysts and suppliers to thehotel industry—access to hotel research with regular and custom reports covering Europe, Middle East, Africa, Asia Pacific and South America. STR Global provides a single source of global hotel data covering daily and monthly performance data, segmentation data, forecasts, annual profitability, pipeline and census information. Hotel operators can join the surveys on a complimentary basis and benefit from free industry data. STR Global is part of the STR family of companies and is proudly associated with STR, STR Analytics and Hotel News Now. For more information, please visit www.strglobal.com.