Middle East region performance results for October 2009
“As October 2008 was a strong month for RevPAR growth (+24.6 percent) across Middle East/Africa region, the comparables for October 2009 (-10.2 percent) fell behind Europe (-1.6 percent) and Asia/Pacific (-3.1 percent)”, said Elizabeth Randall, managing director of STR Global. “Out of the 11 cities tracked on our Middle East/Africa Performance Review, only Abu Dhabi, Dubai and Muscat reported monthly RevPAR declines higher than the regional average. The overall declining demand and in cases like Dubai, the increases in supply are reasons for these performances. Muscat had a very strong October in 2008 and therefore now sees the higher-than-average reduction”.
Highlights from key markets in the Middle East/Africa region (percentages are October 2009 vs. October 2008):
- Riyadh, Saudi Arabia, reported the largest occupancy increase, up 7.9 percent to 70.4 percent, followed by Beirut, Lebanon with a 7.4-percent increase to 83.5 percent.
- Three markets reported double-digit occupancy decreases: Muscat, Oman (-17.3 percent to 66.1 percent); Johannesburg, South Africa (-12.0 percent to 65.7 percent); and Abu Dhabi, United Arab Emirates (-11.3 percent to 80.1 percent).
- Three markets experienced ADR increases of more than 30 percent: Istanbul, Turkey (+40.9 percent to US$306.85); Johannesburg (+34.7 percent to US$92.48); and Cape Town, South Africa (+31.3 percent to US$141.96).
- Dubai, UAE, posted the largest ADR decrease, falling 29.3 percent to US$264.73, followed by Muscat with a 12.8-percent decrease to US$269.79.
- Istanbul experienced the largest RevPAR increase, jumping 35.7 percent to US$230.69. Three other markets reported double-digit RevPAR increases: Cape Town (+19.5 percent to US$97.76); Johannesburg (+18.5 percent to US$60.80); and Beirut (+16.5 percent to US$154.31).
- Dubai reported the largest RevPAR decrease, dropping 35.3 percent to US$198.22, followed by Muscat with a 27.9-percent decrease to US$178.39.
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