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Middle East / Africa Hotel Industry Performance in August 2009

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According to data compiled by STR Global, the Middle East / Africa region’s occupancy rates in August 2009 dropped 18.2% to 59.2%; ADR decreased 3.7% to US$133.31; and RevPAR decreased 21.2% to US$78.89.

“With Ramadan taking place 21 August-19 September 2009, the Middle East /Africa region dropped 21% in RevPAR for August falling for the first time behind Europe and the Americas in terms of monthly RevPAR declines,” said Elizabeth Randall, managing director of STR Global. “We expect this to be a temporary position. For the year-to-date the region still showed the least declines of all four regions. The RevPAR for most Middle Eastern markets suffered from double-digit occupancy declines as business slowed down.”

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

• Jeddah, Saudi Arabia, was the only market to report a single-digit occupancy decrease, falling 1.3% to 75.4%.

• Muscat, Oman, reported the largest occupancy decrease, falling 38.2% to 35.4%, followed by Riyadh, Saudi Arabia, with a 31.5% decrease to 38.8%.

• Three markets experienced double-digit ADR increases: Beirut, Lebanon (+29.6% to US$279.26); Jeddah (+10.6% to US$184.48); and Cape Town, South Africa (+10.0% to US$110.74).

• Dubai, United Arab Emirates, posted the largest ADR decrease, falling 21.9% to US$156.73. Cairo, Egypt, also reported a double-digit ADR decrease, falling 16.2% to US$127.03.

• Two markets reported RevPAR increases: Jeddah (+9.2% to US$139.13) and Beirut (+6.5% to US$209.07).

• Four markets experienced RevPAR declines of more than 30%: Muscat (-38.5% to US$60.50); Cairo (-36.5% to US$73.10); Dubai (-33.6% to US$100.46); and Riyadh (-30.1% to US$80.67).

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