Complex Made Simple

Occupancy rates of Mea hotels surge in September 2014

Cairo, while still in recovery mode, achieved occupancy levels of 51.8 per cent'

Mea hotels have reported positive performance in September 2014, with a 13.1 per cent rise in occupancy to 65.5 per cent.

In year-over-year comparisons, the region also reported a 1.3 per cent increase in average daily rate to $145.12 and a 14.5 per cent increase in revenue per available room to $94.99, according to data compiled by STR Global.

“All three sub-regions in September saw occupancy levels of 60 per cent or above,” says Elizabeth Winkle, managing director at STR Global.

“It is positive to see consistency in performance, in spite of instability leading to uncertainty in several countries. Among 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 in the first week of October. Cairo, while still in recovery mode, achieved occupancy levels of 51.8 per cent, with significant year-over-year growth of 107.5 per cent,” she adds.

Egypt reports the largest occupancy increase, jumping 107.5 per cent to 51.8 per cent.

Beirut, Lebanon, followed with a 60.9 per cent increase to 55.6 per cent. Jeddah, Saudi Arabia, recorded the largest ADR increase (+14.7 per cent to $269.52), followed by Cairo, Egypt, (+12.7 per cent to $107.86) and Muscat, Oman (+11.8 per cent to $205.72).

According to STR Global’s report, four markets achieved double-digit or more RevPAR growths: Cairo (+133.9 per cent to $55.82); Beirut (+68.0 per cent to $82.99); Jeddah (+21.9 per cent to $216.34); and, Doha, Qatar (+12.2 per cent to $127.50).

Lagos, Nigeria, experienced the largest decrease in all three key performance metrics. The market’s occupancy fell 35.4 per cent to 36.8 per cent, the report states.