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Middle East/Africa September 2014 results

October 24, 2014 Statistics & Trends No Comments Email Email

The Middle East/Africa region reported positive performance during September 2014 when reported in U.S. dollars, according to data compiled by STR Global.
In September, in year-over-year comparisons, the region reported a 13.1-percent increase in occupancy to 65.5 percent, a 1.3-percent increase in average daily rate to US$145.12 and a 14.5-percent increase in revenue per available room to US$94.99.

“All three sub-regions in September saw occupancy levels of 60 percent or above”, said Elizabeth Winkle, managing director of STR Global. “It is positive to see consistency in performance in spite of instability leading to uncertainty in several countries.

“Amongst the high performers, Saudi Arabia is one of the region’s strongest in September as the country was gearing up for Hajj, which took place the first week in October”, said Winkle. “Cairo, whilst still in recovery mode, achieved occupancy levels of 51.8 percent with significant year-over-year growth of 107.5 percent”.

Highlights among the Middle East/Africa region’s key markets for September 2014 include (year-over-year comparisons, all currency in U.S. dollars):

* Cairo, Egypt, reported the largest occupancy increase, jumping 107.5 percent to 51.8 percent. Beirut, Lebanon, followed with a 60.9-percent increase to 55.6 percent.
* Jeddah, Saudi Arabia, recorded the largest ADR increase (+14.7 percent to US$269.52), followed by Cairo (+12.7 percent to US$107.86) and Muscat, Oman (+11.8 percent to US$205.72).
* Four markets achieved double-digit or more RevPAR growth: Cairo (+133.9 percent to US$55.82); Beirut (+68.0 percent to US$82.99); Jeddah (+21.9 percent to US$216.34); and Doha, Qatar (+12.2 percent to US$127.50).
* Lagos, Nigeria, experienced the largest decrease in all three key performance metrics. The market’s occupancy fell 35.4 percent to 36.8 percent; its ADR was down 11.3 percent to US$248.47; and its RevPAR decreased 42.7 percent to US$91.40.

Year-to-date 2014, when reported in U.S. dollars, the Middle East/Africa region’s occupancy increased 3.6 percent to 62.8 percent; its ADR was up 1.9 percent to US$161.62; and its RevPAR rose 5.7 percent to US$101.48.

“Year to date, MEA has achieved 5.7-percent RevPAR growth”, Winkle commented. “2014 has proved to be occupancy driven, compared to 2013 when performance was more rate driven”.

For complete media releases with table, open the attached Word document.

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