Mideast occupancy rates grew 4.6% in October
Complex Made Simple

Mideast occupancy rates grew 4.6% in October

Mideast occupancy rates grew 4.6% in October

According to data compiled by STR Global, the Middle East and Africa region has reported positive hotel performance results in October 2012, with occupancy jumping 4.6% to 65.5% during the month. Average daily rate rose 9.4% to $183.97, while revenue per available room grew 14.4% to $120.56. The markets which achieved double-digit RevPAR growth in the Middle East included Jeddah (23.4% to $189.54); Dubai (20.4% to $224.51); and Cairo (17.3% to $59.10). Beirut reported the largest decrease in all three key performance metrics. The market's occupancy fell 37.7% to 38.5%, its ADR was down 15.9% to $159.34, and its RevPAR decreased 47.6% to $61.36.

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    AMEinfo Staff

    AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.

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