STR Global announces Middle East/Africa hotel results for September 2012
- United Arab Emirates: Wednesday, October 24 - 2012 at 10:06
- PRESS RELEASE
The Middle East/Africa region reported mixed performance results in September 2012 when reported in U.S. dollars, according to data compiled by STR Global.
"Beirut, Lebanon, experienced two very different sides to this year", said Elizabeth Randall Winkle, managing director of STR Global. "The first five months saw double-digit RevPAR increases and the last four months saw falling RevPAR results. September, unfortunately, reported the highest declines so far with RevPAR falling 56.5% compared to September 2011. Recent events and unrests will provide further challenges to the city's residents and guests".
Highlights among the region's key markets for September 2012 include (year-over-year comparisons, all currency in U.S. dollars):
• Cairo, Egypt (+24.6% to 52.3%), and Muscat, Oman (+20.8% to 59.0%), reported the largest occupancy increases.
• Amman, Jordan, reported the only double-digit ADR increase, rising 10.1% to $156.07.
• Amman (+22.3% to $105.87) and Sandton, South Africa, and the surrounding areas (+18.2% to $84.30), reported the largest RevPAR increases.
• Beirut posted the largest decrease in all three key performance metrics. The markets occupancy fell 40.1% to 42.7%, its ADR was down 27.5% to $166.36 and its RevPAR decreased 56.6% to $71.11.
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