Middle East/Africa region September 2010 results | STR Global
The Middle East/Africa region reported increases in all three key performance measurements for September 2010 when reported in U.S. dollars, according to data compiled by STR Global. The region’s occupancy ended the month with a 5.6-percent increase to 58.2 percent, average daily rate rose 8.2 percent to US$147.39, and revenue per available room went up 14.2 percent to US$85.80.
The Middle East/Africa region reported increases in all three key performance measurements for September 2010 when reported in U.S. dollars, according to data compiled by STR Global.
The region’s occupancy ended the month with a 5.6-percent increase to 58.2 percent, average daily rate rose 8.2 percent to US$147.39, and revenue per available room went up 14.2 percent to US$85.80.
“The Middle East/Africa region’s performance was boosted in September with strong performances across Northern Africa. However, the subregion’s 15.9 percent ADR increase to US$87.73 is still only half of the average rates achieved across the Middle East subregion (US$189.18)”, said Elizabeth Randall, managing director of STR Global. “We mentioned last month that we were looking forward to seeing September results, as the Middle East subregion had reported the first ADR increase in August. Unfortunately, we have to wait for this trend to stabilise. The impact of the changing Ramadan periods from 2009 to 2010 is making a reading of the current month’s performance harder, and it will be interesting to see how October ends”.
Highlights among the region’s key markets for September include (year-over-year comparisons, all currency in U.S. dollars):
- Amman, Jordan, achieved the largest occupancy increase, rising 39.2 percent to 57.7 percent, followed by Riyadh, Saudi Arabia, with a 22.3-percent increase to 41.9 percent.
- Three markets posted occupancy decreases: Johannesburg, South Africa (-10.0 percent to 56.7 percent); Jeddah, Saudi Arabia (-8.6 percent to 63.1 percent); and Abu Dhabi, United Arab Emirates (-7.8 percent to 57.5 percent).
- Johannesburg reported the largest ADR increase, rising 32.5 percent to US$124.34.
- Abu Dhabi fell 27.8 percent in ADR to US$142.65, reporting the largest decrease in that metric.
- Three markets experienced RevPAR increases of more than 30 percent: Amman (+48.5 percent to US$82.84); Beirut, Lebanon (+31.3 percent to US$193.94); and Cairo, Egypt (+30.1 percent to US$81.73).
- Two markets reported RevPAR decreases for the month: Abu Dhabi (-33.4 percent to US$81.96) and Jeddah (-9.1 percent to US$132.55).
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