Middle East, Africa Lead Global Hotel Revenue
The Middle East/Africa region had the highest average revenue per available room at $120.88 in October, increasing 2.1 percent from last year, according to STR Global.
The region recorded a 5.9 percent increase in average daily rate to $191.44, also the highest among regions, while witnessing a 3.5 percent decrease in occupancy to 63.1 percent.
The hotel performance in the Middle East is leading the positive numbers in the MEA region, with Dubai as one of its top performers, STR reports.
"The exception was July, when Dubai saw a decline in occupancy because of Ramadan," Elizabeth Winkle, STR Global's managing director, said in the report. "October was the first month where supply growth outpaced demand growth, and as a result, October was the first month with an occupancy decline."
The region with the second-highest RevPAR was Europe at $105.09 in October, increasing 9.8 percent from last year. Asia Pacific came in third, with the Americas reporting the lowest amount of RevPar. Highlights for MEA market:
- Beirut, Lebanon, reported the largest occupancy increase, rising 17.6 percent to 45.3 percent. Abu Dhabi, United Arab Emirates, followed with a 15.8-percent increase to 76.7 percent.
- Cairo, Egypt, fell 46.6 percent in occupancy to 28.0 percent, posting the largest decrease in that metric.
- Abu Dhabi, U.A.E. rose 10.7 percent in ADR to $172.77, reporting the largest increase in that metric.
- Cairo (-11.6 percent to $100.23) ended the month with the largest ADR decrease.
- Three markets achieved RevPAR increases of more than 10 percent: Abu Dhabi (+28.2 percent to US$132.46); Beirut (+17.3 percent to US$72.17); and Muscat, Oman (+11.5 percent to$173.66).
- Cairo fell 52.8 percent in RevPAR to $28.06, posting the largest decrease in that metric.