Bahrain shows highest occupancy growth in ME
May figures reveal a 29.7% year-on-year increase in Manama occupancy
Bahrain has reported the highest May growth in terms of occupancy for the Middle East region as compared to last year’s figures, according to the latest statistics from STR Global.
Occupancy for May 2014 in Bahrain increased by 27.8% year-on-year, with Manama seeing a 29.7% increase to 56.9%. However the figure still remains below the region’s average.
Elizabeth Winkle, managing director of STR global said: “Bahrain is currently showing the highest growth in terms of occupancy (+27.8%), though the country is coming from a low base in 2013. Despite the double-digit growth rate, Bahrain’s occupancy is at 57.2%.”
Results were positive across the whole region when reported in US Dollars. The region showed a 1.9% increase in occupancy to 63.5%, a 3.1% increase in average daily rate (ADR) to US $154.14 and a 5.1% increase in revenue per available room (RevPAR) to US $97.94.
After Bahrain, Doha, Qatar showed the second largest occupancy increase, with a 13% rise to 75.8%.
In terms of ADR, Amman, Jordan, achieved the only double-digit ADR growth in May, up 13.8% to US $184.77. However Riyadh, Saudi Arabia, fell 6.1% in ADR to US $241.65, experiencing the largest decrease in that metric.
Manama (+28.8% to US $112.86) and Amman (+21.1% to US $136.92) led the RevPAR increases.
Lagos, Nigeria saw the largest decreases in RevPAR and occupancy. RevPAR decreased 20.9% to US $150.74, while occupancy decreased 16.1% to 58%.
Other African countries showed negative performance including Egypt and Kenya.
Winkle commented: “Egypt is still seeing occupancy levels below 50%, while rate growth continues to be muted. Kenya also is reporting negative occupancy and RevPAR growth due to the recent events”.