GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >> Real Estate and Retail

 
  Share

 

“Hotel performance in March dipped in the majority of MENA hospitality markets compared to March 2016. Across the GCC, most cities witnessed a decline in revenue per average room (RevPAR) in March 2017, compared to the previous year, with the exception of Kuwait City, which had an increase in both occupancy and RevPAR, Ras Al Khaimah (RAK) witnessed a modest increase in RevPAR. 

Dubai city hotels continue to lead in terms of the highest occupancy in the region, recording 88.6% occupancy in March 2017. However, average daily rates (ADR) in Dubai dropped by 8.4% from US$309 in March 2016 to US$283 in March, coupled by a slight decline in occupancy by 1.5% when compared to the same time last year, leading to a decline from US$272 in March 2016 to US$245 in March 2017. 

Hospitality markets in Beirut and Cairo, witnessed a positive increase across all KPIs in March. In Beirut, occupancy increased by 10.9% which was coupled with a rise in ADR from US$134 in March 2016 to US$139 in March 2017, resulting in an increase in RevPAR by 26.2% when compared to the same period last year.

Cairo's hospitality market continues to improve month-on-month due to improved stability in the country, recording a 111.2% increase in RevPAR. Compared to the same period last year, hotel occupancy increased by 20.8% percentage points to reach 70.9% in March 2017. ADR in the city increased by 49.1% compared to last year, however Cairo's room rates still remain one of the lowest in the region at US$79, due to the devaluation of the currency. 

Looking at hotel performance in Q1 2017, all MENA markets with the exception of Cairo, Beirut and Kuwait witnessed a decline in room yield compared to Q1 2016. Dubai overall hotels maintained the highest MENA occupancy in the first quarter of the year at 86.8%.

The trend of a softer performance as compared to the previous year is expected to continue in MENA over the summer and the month of Ramadan, which starts towards the end of May.”



Posted by : GoDubai Editorial Team
Viewed 9473 times
Posted on : Thursday, May 11, 2017  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : Amlak Releases First Quarter 2017 Results
Next Story : Proposed Final Dividend of USD 0.04 Per Share
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Sacoor Brothers launches FIRST ever Fragrance “GENTLEMAN”
Caudalie The Des Vignes
Trend Alert! Summer Can Never Be a Forgotten Memory With kate spade
Get Your Summer Glow From Within
Palmer's Coconut Oil Formula for Body and Hair
Corum Presents La Grande Vie
Caudalie and Al Jalila Foundation Join Hands for the Launch of ‘Glamour for Good'
Express Your Signature Style
The Memovox Adventure
Tissot Lepine It's making a comeback Vintage
LG launches new AI-powered premium LG G7 ThinQ+ flagship for GCC consumers
The Rado HyperChrome Skeleton Automatic Chronograph Limited Edition
Sandooq Al Watan and DarkMatter Launch Second Phase of "Emirati Coder"
Manero Peripheral (43 Mm) Classic Watchmaking Meets State -of-the - Art Technology
OMEGA's second "Speedy Tuesday" sells in 01:53.17
The Lacoste Family Capbreton Collection
New short indie movie ‘The Peril' is a wake-up call to parents about internet sa...
Ferrari takes the “Red Dot: Best of the Best” design award for the fourth year r...
Dubai Parks and Resorts and GEMS Education launch the second annual Summer Camp
Cerruti 1881 Infinite Love
Ulysse Nardin Salutes Us Navy With Limited Edition Executive Skeleton Tourbillon
Olivia Burton Watercolour Florals
Beat the heat with mini dresses
Director of Dubai Customs discusses fostering business with South Korean Consul ...
Tridom, Ras Al Khaimah's first indoor adventure park, opens its doors in Manar Mall
World-first as the F1® Innovation Prize prepares to transform fan's winning tech...
Enjoy an all-day breakfast at Sophie's Café
UAE's Emirates Transport Chooses Oracle Cloud to Drive Rapid Expansion and Deliv...
Open Dairies by Parmigiano Reggiano Consortium: A gastronomical event for touris...
Airbus unveils winners of its ‘Entaliq in KSA' initiative
DHL Express drives energy efficient solutions with new electric vehicles in Dubai
Innovative Chronofighter Superlight Carbon is replete with Graham's formidable m...
Outstanding Guide programme launched by Sharjah Museums Authority
Tissot T-Race Cycling An adrenaline-fuelled ride
Dubai Creek Harbour Project Celebrates 5 Million Man Hours with Zero Lost Time A...
Abu Dhabi Airports Celebrates Success at CIPS Middle East Supply Management Awards
Shopping assistance for Arabic-speaking passengers in the summer months
Sighting Immediate Hiring of UAE Nationals, Union Coop Organizes Exclusive Recru...
Launch of PINAR Water - Turkey
Cromia Offers Amazing Discounts during DSS
Dubai Business Women Council witnesses 28.3% growth in total membership during f...
2XL launches luxurious Louna sofa set in velvet
‘Green' retailers to continue to gain traction with consumers
New hope for patients as world's first and only approved therapy to treat two ty...
Emirates makes history with one-off A380 touchdown in Islamabad
Dubai Camel Racing Club Honours Al Tayer Motors
Finnair launches off-airport baggage collection and check-in service in London w...
DKNY Fall 2018
HP Collaborates with Abu Dhabi's Danat Al Emarat Hospital to Re-invent Patients'...
DALBY and its 50 years of experience in hydraulic hooklifts will be present at t...