Middle East/Africa hotel results for 2012
"Looking at African performance in constant U.S. dollars, a difference in ADR performances between Northern Africa and the rest of Africa becomes evident; Northern Africa's ADR declined 2.1 percent in constant USD, whilst the remaining continent's ADR increased 2.6 percent in constant USD", said Elizabeth Randall Winkle, managing director of STR Global. "Northern Africa experienced a bounce back in occupancy with a 16.8-percent increase to 52 percent. Its African neighbours grew 3.9 percent to 59.6 percent occupancy.
"The Middle East had a good year achieving its third highest RevPAR of US$131.48 within the last eight years", Winkle continued. "The region remained popular with developers and guests growing 6.3 percent in room inventory and 10.2 percent in demand".
Highlights among the region's key markets for 2012 include (year-over-year comparisons, all currency in U.S. dollars):
- Cairo, Egypt, jumped 24.5 percent in occupancy to 45.6 percent, reporting the largest increase in that metric, followed by Amman, Jordan (+15.1 percent to 65.0 percent), and Muscat, Oman (+14.3 percent to 59.6 percent).
- Nairobi, Kenya, reported the largest occupancy decrease, falling 8.2 percent to 62.9 percent.
- Jeddah, Saudi Arabia (+9.0 percent to US$221.97), and Dubai, United Arab Emirates (+7.9 percent to US$234.99), ended the year with the largest ADR increases.
- Beirut, Lebanon, reported the only double-digit ADR decrease, falling 10.2 percent to US$186.62.
- Four markets achieved double-digit RevPAR growth: Amman (+20.9 percent to US$99.39); Jeddah (+19.7 percent to US$176.60); Cairo (+13.7 percent to US$47.35); and Dubai (+11.4 percent to US$181.45).
- Beirut fell 17.3 percent in RevPAR to US$94.55, reporting the largest decrease in that metric.
In December 2012, the region reported a 3.7-percent increase in occupancy to 57.7 percent, a 1.1-percent increase in ADR to US$177.27 and a 4.9-percent rise in RevPAR to US$102.36.
Konstanze Auernheimer (STR Global)
Director of Marketing
Phone: +44 (0)207 922 1961
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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.