Four Gulf markets post big hotel revenue gains
Dubai, Jeddah, Muscat and Manama all post RevPAR gains of 25% in Aug
Four hotel markets in the Gulf region posted revenue increases of more than 25 percent in August, according to new figures released by STR Global.
Dubai was the star performer last month, with revenue per available room (RevPAR) rising 59.9 percent to $109.29).
Hotels in Jeddah saw RevPAR rise by 40.6 percent to $202.75 while hotels in Muscat, Oman increased 36.1 percent to $61.27.
Revenues recorded by hotels in Manama, Bahrain also rose 25.8 percent to $67.08, STR Global said.
In the wider Middle East and North Africa region, Amman, Jordan (up 80.1 percent to $69.10) and Cairo (up 66.4 percent to $39.81) also performed strongly, according to the latest figures.
“Ramadan ended earlier this August compared to August 2011, and performance metrics were positively impacted because of it, showing a 19.6 percent RevPAR increase across the Middle East," said Elizabeth Randall Winkle, managing director of STR Global.
The Middle East/Africa region saw occupancy increase by 11.9 percent to 53.8 percent during the month, while its average daily rate (ADR) increased three percent to $154.93.
Cairo, Egypt, reported the largest occupancy increase, rising 69.7 percent to 37.9 percent, followed by Amman, Jordan, with a 52.9 percent increase to 43.2 percent.
Riyadh, Saudi Arabia, fell 8.5 percent in occupancy to 31 percent, reporting the largest decrease in that metric.
Dubai hotels increased 23.7 percent in ADR to $184.23, posting the largest increase in the region, followed by Jeddah (up 18.1 percent to $255.99).