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MENA: HOTEL OCCUPANCY.

Summary: Ernst & Young issued its latest Hotel Benchmark Survey on the Middle East for the first seven months of 2018 (four and five star hotels), according to which occupancy rates increased in eight cities within the region and decreased in the remaining six.

Ernst & Young issued its latest Hotel Benchmark Survey on the Middle East for the first seven months of 2018 (four and five star hotels), according to which occupancy rates increased in eight cities within the region and decreased in the remaining six. Abu Dhabi registered the most significant increase of 8.1%. The highest decrease of 4.6% was registered by Doha. According to the survey, the cities of Abu Dhabi, Dubai and Ras Al Khaimah took over the first three ranks amongst peers in hotel occupancy, with 79.4% for Abu Dhabi, 76.1% for Dubai and 72.5% for Ras Al Khaimah. At the lower end of the regional scale were Riyadh (54.8%), Manama (53.9%) and Amman (53.7%). Furthermore, a total of five cities reported increases in the average room rate, registering 11.6% in the case of Jeddah. The most significant upward movements after Jeddah were posted by Cairo (+8.3%) and Ras Al Khaimah (+5.7%). The most significant decreases were registered by Makkah (-12.0%), Abu Dhabi (-11.4%), and Madinah (-8.8%), according to EY. In this context, the roomsEe' yield decreased in eight cities while the other six reported an increase. The most significant decreases were seen in Doha, Makkah and Madinah with -14.5% for Doha, -10.3% for Makkah and -7.6% for Madinah. Cairo, Jeddah and Ras Al Khaimah reported the highest increases of 20.2%, 8.4% and 5.8% respectively.

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Publication:EMBIN (Emerging Markets Business Information News)
Geographic Code:7UNIT
Date:Oct 9, 2018
Words:303
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