The Middle East/Africa region had the highest average revenue per available room at $120.88 in October.
Ritz-Carlton is planning to add 20 hotels around the world by 2016.
As the Egyptian government struggles with political and economic instability, the Cairo real estate market reports improvement in all sectors. Vacancies in Grade A office buildings slid to 20 percent for the first quarter, a decrease from 29 percent in the fourth quarter of 2012.
The average daily rate for a hotel in Dubai jumped 7.9 percent in 2012, thanks to a steady roster of conventions and events in the city, a new report says. Visitors to Dubai can now expect to pay an average of $234.99 for a hotel room.
According to STR Global, the Middle East/Africa region reported mostly mixed performance results in 2012 when reported in U.S. dollars. In 2012, the region reported a 6.1-percent increase in occupancy to 60.3 percent, a 0.5-percent decrease in average daily rate to US$161.64 and a 5.6-percent increase in revenue per available room to US$97.54.
Since 1946, it's transported presidents and kings and potentates through the mountains, deserts, savannahs, and veldts of South Africa. With an elegant ambience reminiscent of a gentler age, it offers a lucky few the chance to take a trip through a time-machine, as well as some of southern Africa's most stunning landscapes.
According to hotel data compiled by STR Global, despite economic slowdowns in many regions of the world, hotel markets globally still posted mostly positive performance results for the month of August 2012. Here is a breakdown of hotel markets by region from STR Global.
Four Seasons Hotels and Resorts recently celebrated a homecoming of sorts with the opening of a new 259-room flagship hotel in Toronto, where the company was founded more than 50 years ago.
Bangladesh will be the newest home of the Le Meridien hotel chain, furthering the expansion of the Starwood Hotels and Resorts brand deeper into South Asia. Starwood's new Le Méridien Dhaka will be part of a mixed-use tower and is slated to open in July 2013. Owned by Best Holdings Limited, the 304-room hotel will be located close to Dhaka International Airport with easy access to the city's central business district offering breathtaking views of the city. Le Méridien Dhaka will mark the second Starwood managed hotel in Bangladesh.
According to according to the June 2012 STR Global Construction Pipeline Report, despite global economic concerns and the Eurozone debt crisis, many markets are still very active building new hotels. The Asia/Pacific hotel development pipeline comprises 1,625 hotels totaling 374,604 rooms, according to the June 2012 STR Global Construction Pipeline Report.
Hilton Worldwide, Egypt's largest hospitality provider, has signed an agreement with long-standing business partner, Egyptian Touristic Resorts LLC, to introduce two new premium Hilton Hotels & Resorts properties to Cairo and Alexandria.
(Orlando, FL) -- Vacation resort developer Orange Lake Resorts, which features one of the largest timeshare resort properties in the country here in Central Florida, announced that it officially closed on a transaction with Cooper Industries, Inc., to expand its destinations to Tropical Breeze Resort in Panama City Beach, Fla., and Galveston on the Gulf Resort in Galveston, Texas. The intent for both resorts is to become a part of the Holiday Inn Club Vacations brand in late 2012.
According to Jones Lang LaSalle's (JLL) latest Cairo Real Estate Overview, following the Egypt's difficulties in 2011, the future looks more positive. JLL believes that there is evidence of more clarity and increased activity, with confidence returning twelve months after Egypt's revolution.
According to the 2011 year-end data from STR Global, a year since the beginning of the Arab Spring, demand has yet to return to Egypt, Bahrain and the Levant region.
According to the December 2011 STR Global Construction Pipeline Report, the Middle East/Africa hotel development pipeline comprises 496 hotels totaling 133,438 rooms.
According to STR Global, the Middle East/Africa region reported mostly negative performance results during November 2011. The region ended the month with a 4.3-percent decrease in occupancy to 65.8 percent, ...