STR Global releases Middle East/Africa hotel results for 2012
- United Arab Emirates: Saturday, January 26 - 2013 at 10:58
- PRESS RELEASE
The Middle East/Africa region reported mostly mixed performance results in 2012 when reported in U.S. dollars, according to data compiled by STR Global.
"Looking at African performance in constant U.S. dollars, a difference in ADR performances between Northern Africa and the rest of Africa becomes evident; Northern Africa's ADR declined 2.1% in constant USD, whilst the remaining continent's ADR increased 2.6% in constant USD," said Elizabeth Randall Winkle, managing director of STR Global.
She said, "Northern Africa experienced a bounce back in occupancy with a 16.8% increase to 52%. Its African neighbours grew 3.9% to 59.6% occupancy."
"The Middle East had a good year achieving its third highest RevPAR of $131.48 within the last eight years", Winkle continued. "The region remained popular with developers and guests growing 6.3% in room inventory and 10.2% in demand," sh added.
Highlights among the region's key markets for 2012 include (year-over-year comparisons, all currency in U.S. dollars):
• Cairo, Egypt, jumped 24.5% in occupancy to 45.6%, reporting the largest increase in that metric, followed by Amman, Jordan (+15.1% to 65.0%), and Muscat, Oman (+14.3% to 59.6%).
• Nairobi, Kenya, reported the largest occupancy decrease, falling 8.2% to 62.9%.
• Jeddah, Saudi Arabia (+9.0% to $221.97), and Dubai, United Arab Emirates (+7.9% to $234.99), ended the year with the largest ADR increases.
• Beirut, Lebanon, reported the only double-digit ADR decrease, falling 10.2% to $186.62.
• Four markets achieved double-digit RevPAR growth: Amman (+20.9% to $99.39); Jeddah (+19.7% to $176.60); Cairo (+13.7% to $47.35); and Dubai (+11.4% to $181.45).
• Beirut fell 17.3% in RevPAR to $94.55, reporting the largest decrease in that metric.
In December 2012, the region reported a 3.7% increase in occupancy to 57.7%, a 1.1% increase in ADR to $177.27 and a 4.9% rise in RevPAR to $102.36.
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