During the first four months of 2012, the beachfront resorts recorded extended periods of high occupancy averaging at 84.4%, while RevPAR, the industry standard for measuring the rooms’ revenue in relation to rooms available, has grown by 18.7%. Jumeirah’s city hotels have also regained their leading position with increased average occupancy of 85.5% and RevPAR growth of 8.4%.
In the US, Jumeirah Essex House continued to benefit from revival of the corporate travel market and recorded occupancy increase of 4.6% and RevPAR increase of 6.3% year-on-year. In London, Jumeirah Carlton Tower and Jumeirah Lowndes Hotel continued to enjoy robust performance and are preparing for the very busy summer with the Queen’s Diamond Jubilee and the Olympics. These travellers will also benefit from a diversified choice of accommodation with the opening of Grosvenor House Apartments by Jumeirah Living in the prestigious Park Lane in March.
Jumeirah Frankfurt, the Group’s first hotel in continental Europe, has already established itself among the market leaders in terms of occupancy and RevPAR. The Group expects that the German leisure market will also be strong into its newest Spanish resort, Jumeirah Port Soller Hotel & Spa, which opened on April 24th in Mallorca. Jumeirah Grand Hotel Via Veneto in Rome as well as the Pera Palace Hotel, Jumeirah’s historical landmark in Istanbul, are also attracting an increasing number of affluent travellers seeking the finest in service and facilities.
The next openings are scheduled to be in Baku, Dubai and Kuwait.