RevPAR in Middle East tops key markets in Q1
Report puts Middle East on top, but down from 2009
RevPAR in the Middle East during the first quarter of 2010 was higher than when key markets Europe, Asia Pacific and the Americas according to a Deloitte report ‘Analysis of Selected STR Global Hotel Performance Data for the Middle East’.
The report cited the region’s ‘innovative strategies to attract guests’ as a deciding factor in the area’s consistently high RevPAR.
But, despite a higher RevPAR than other key world markets, the figures were down from the corresponding period in 2009 when the RevPAR was US $152.76 compared to the 2010 figures of US $137.51.
However, the Deloitte report suggests that the lower RevPAR is to be expected following a shortage of rooms during 2008, which caused an upward movement in hotel average daily rates —while an infusion of new hotel rooms in 2009 normalised the gap and therefore signaled a natural market adjustment which has continued in to 2010.
Within the region, Abu Dhabi, Muscat and Dubai have seen decreases in RevPAR during the first quarter of 2010, while Beirut and Jeddah have seen increases during the same period.