Jumeirah revenue growth declines to 5.2% from 8%
Jumeirah recorded an occupancy rate of 80.1% and RevPAR of AED 1708 (US $293) in 2014
Dubai-based hotelier Jumeirah Group has reported revenue growth of 5.2% in 2014, down from 8% a year earlier.
Across the company’s hotels, resorts and residences in Dubai, which includes the Burj Al Arab and Madinat Jumeirah complex, the company recorded an occupancy rate of 80.1% and an average revenue per available room (RevPAR) of AED 1708 (US $293).
The first four months of 2015 are proving better for Jumeirah, with occupancy levels at 84.6% and RevPAR at AED 2018 ($549).
The group said the UK continued to be its largest source market across its global operations, which includes hotels in the Gulf, Europe and the US. British customers represented 15.2% of total room nights sold.
Despite the falling rouble, Russia continued to be the second largest source of revenue for the hotel group in 2014.
But outside factors have impacted Jumeirah more so in 2015, with business from the Gulf growing by 13.9% in the first four months of 2015 compared to the same period in 2014.
The group announced multiple new hotel management agreements during 2014, in China, Mauritius and Dubai, as well as in Turkey and Abu Dhabi during 2015.
Madinat Jumeirah general manager Margaret Paul told Arabian Business the resort had increased its market share during Q1 2015, despite occupancy levels and RevPAR declining across the emirate.
“We’re delighted to see we had a great first quarter,” Paul said during Arabian Travel Market.
The resort recently announced its new Al Naseem hotel, which will fill the Madinat Jumeirah’s land bank.
Paul said she was confident the new rooms would fill despite an influx of supply into the market.
“We’ll remain very, very strong,” she said.
“Our location and our facilities are second to none so we’re very confident for the future and very confident the opening of Jumeirah Al Naseem will be a great addition to the resort.”