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Performance of Hotels in Middle East / Africa in October 2009

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According to data compiled by STR Global, occupancy rates of hotels in the Middle East / Africa region dropped 8.5% to 68.3%. ADR fell 1.9% to US$166.95 and RevPAR decreased 10.2% to US$114.10.

As October 2008 was a strong month for RevPAR growth (+24.6%) across Middle East / Africa region, the comparables for October 2009 (-10.2%) fell behind Europe (-1.6%) and Asia Pacific (-3.1%), said Elizabeth Randall, managing director of STR Global. Out of the 11 cities tracked on our Middle East / Africa Performance Review, only Abu Dhabi, Dubai and Muscat reported monthly RevPAR declines higher than the regional average. The overall declining demand and in cases like Dubai, the increases in supply are reasons for these performances. Muscat had a very strong October in 2008 and therefore now sees the higher-than-average reduction.

Highlights from key markets in the Middle East / Africa region (percentages are October 2009 vs. October 2008):

Riyadh, Saudi Arabia, reported the largest occupancy increase, up 7.9% to 70.4%, followed by Beirut, Lebanon with a 7.4% increase to 83.5%.

Three markets reported double-digit occupancy decreases in Muscat, Oman (-17.3% to 66.1%); Johannesburg, South Africa (-12% to 65.7%); and Abu Dhabi, United Arab Emirates (-11.3% to 80.1%).

Three markets experienced ADR increases of more than 30%: Istanbul, Turkey (+40.9% to US$306.85); Johannesburg (+34.7% to US$92.48); and Cape Town, South Africa (+31.3% to US$141.96).

Dubai, UAE, posted the largest ADR decrease, falling 29.3% to US$264.73, followed by Muscat with a 12.8% decrease to US$269.79.

Istanbul experienced the largest RevPAR increase, jumping 35.7% to US$230.69. Three other markets reported double-digit RevPAR increases: Cape Town (+19.5% to US$97.76); Johannesburg (+18.5% to US$60.80); and Beirut (+16.5% to US$154.31).

Dubai reported the largest RevPAR decrease, dropping 35.3% to US$198.22, followed by Muscat with a 27.9-percent decrease to US$178.39.

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