Recent reports from STR Global report that the Middle East and Africa region reported a 0.7% decrease in occupancy to 66.9%, a 2.1% increase in average daily rate to US$178.18 and a 1.4% increase in revenue per available room to US$119.19.
The results were released for March 2014. “The Middle East is once again driving positive growth in the region”, said Elizabeth Winkle, managing director of STR Global. “Northern Africa is reporting decreases, while Southern Africa’s performance remains flat. Market performance across the region is very mixed. Doha, Dubai and Muscat have achieved occupancy levels over 80%, but other markets, including Beirut, Cairo, Riyadh and Sandton, posted occupancies of 38.9%, 37.6%, 71.8%, and 67.9%, respectively”.
Some of the highlights of the reports state that Nairobi jumped in occupancy levels to 60.5%, reporting the largest increase. Manama followed with a 32.2% increase to 60.7%. Beirut posted the largest occupancy decrease, falling 25.1% to 38.9%. The market also reported the largest RevPAR decrease, falling 29.8% to US$54.45. Jeddah rose 8.5% in ADR to US$247.56, reporting the largest increase.
Despite tremendous development, Doha fell 10.4% in ADR to US$187.18 posting the only double-digit decrease. Nairobi jumped 70.9% in RevPAR to US$94.15, achieving the largest increase. Manama followed with a 29.6% increase to US$119.14.
During the first quarter, the Middle East/Africa region’s occupancy increased 1.2% to 65.5%; its ADR was up 2.9% to US$179.74; and its RevPAR rose 4.2% to US$117.72.