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June 2014 Performance of Hotels in MEA

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According to data compiled by STR Global, the Middle East/Africa region reported positive performance year-to-date June 2014 when reported in U.S. dollars.

The region reported a 1.0% increase in occupancy to 64.6%, a 3.5% increase in ADR to US$169.22 and a 4.5% increase in RevPAR to US$109.24.

“While there has not been a lot of movement in occupancy, rate has increased by 5.4% when measured in a constant-currency basis in U.S. dollars, resulting in RevPAR growth of 6.4% for the first six months of the year,” said Elizabeth Winkle, managing director of STR Global. “We are seeing rate growth for all three sub-regions, including the Middle East (+2.4%), Northern Africa (+2.0%) and Southern Africa (+7.2%). It is nice to see some ADR growth across the region, albeit muted, in spite of instability and turbulence in many of the countries.”

In June 2014, the region’s occupancy fell 0.6% to 61.3%; ADR increased 3.0% to US$142.80; and RevPAR rose 2.4% to US$87.57.

Highlights among the Middle East/Africa region’s key markets for June 2014 include (year-on-year comparisons, all currency in U.S. dollars):

Doha, Qatar (+17.4% to 75.2%), and Beirut, Lebanon (+17.2% to 63.7%), reported the largest occupancy increases.

Nairobi, Kenya, posted the largest occupancy decrease, falling 11.6% to 57.7%.

Two markets achieved double-digit ADR increases: Jeddah, Saudi Arabia (+12.0% to US$282.62), and Manama, Bahrain (+11.9% to US$212.73).

Riyadh, Saudi Arabia, fell 6.9% in ADR to US$221.47, posting the largest decrease in that metric.

Four markets experienced RevPAR growth of more than 15.0%: Manama (+27.5% to US$123.12); Beirut (+20.4% to US$105.37); Cape Town, South Africa (+16.0% to US$51.68); and Doha (+15.6% to US$130.05).

Nairobi fell 13.0% to US$85.11 in RevPAR, posting the largest decrease in that metric.

“The Middle East, which will be affected by Ramadan which started on 29 June, has reported a mixed picture for the first six months of the year,” Winkle continued. “Jordan and the United Arab Emirates have been the standout countries so far this year. Coming from a low base, Jordan (+11.4%) and Bahrain (+18.3%) both recorded double-digit RevPAR increases for the first half of the year, in local and constant currency.”

STR, ADR, Pipeline, RevPAR, June 2014

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