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 8467 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
Sports Bras Banishing Bounce by 83% arrive in store
Malabar Gold & Diamonds makes historic gain Opens 11 showrooms in a day across 6...
IKEA Welcomes Children in-store to Spread Love for the Arabic Language as Part o...
AIGNER Love
We Sheet You Not! Foreo Announces End of Face Mask Epidemic
Transform Your Skin In 2018 with QNET's Revolutionary Elixa Skincare
New Year, New Skincare!
Experience the ultimate beauty extravaganza as MyBeautyFest kicks off with the i...
Michael Kors Presents Spring 2018 Watches
Signature Scents for Your Home
Spring/Summer 18' Beauty Picks from Missha Cosmetics
Garden Party Style and Cult Classics: Swatch Launches Spring-summer 2018 Collection
Marine Torpilleur Military made for men who chart their own destiny
Corum Bubble Art For Those Who Appreciate A Work Of Art
Shimmering Gilda takes on a silvery sheen
Land Rover's 70th Anniversary Begins With Restoration of ‘Missing' Original 4x4
Mido's Baroncelli Prisma - A sparkling play of prisms enhanced by 51 diamonds'
New Year – New Savings now with Al-Futtaim Honda
Samsung Delivers Vision for Open and Intelligent IoT Experiences to Simplify Eve...
Malabar Gold & Diamonds strengthens its global position as a leading jewellery r...
Samsung Electronics' 2018 Smart TVs Become First to be Industry-Certified for En...
The Trésor Collection
Dubai Culture Organises ‘Carnival of Ideas'
EUROSTAR presents seven global tech majors at CABSAT 2018
ESC's INDIASOFT to Bring Over 400 ICT Foreign Buyers To Bengaluru
Nissan reaffirms importance of electrification at World Future Energy Summit
“12th Edition of SNF's Family Fun Fair”
Nissan and NASA extend research into autonomous mobility services
Dubai Tour team line-up announced: 16 teams of seven riders at the start
Defender Lives on: Land Rover Launches V8 Edition To Celebrate 70th Anniversary
Governments to Signal Support for IRENA Key Role in Global Energy Transformation
Womenswear Preview and Showroom Connection: WHITE Man & Woman's Formula Bets on ...
Dallas Picks Ericsson for Smart Cities Traffic Solution
Renault-Nissan-Mitsubishi Launches a Venture Capital Fund to Invest Up to $1 Bil...
Mashreq Bank offering credit cards for every passion
The Balmain de Balmain Moon Phase Collection - loves personalisation to the moon...
LG's Award-winning 4k Uhd Projector to Debut at CES 2018
HH Sheikh Hasher Bin Maktoum Al Maktoum opens CABSAT 2018
His Highness Sheikh Hasher bin Maktoum bin Juma Al Maktoum Visits du's Stand on ...
Masdar unveils locally manufactured all-electric Eco-Bus at Abu Dhabi Sustainab...
Dubai Outlet Mall celebrates DSF 2018 with amazing attractions for shoppers
Dubai Health Authority Director-General chairs brainstorming meeting, reduction ...
British Group GFG Alliance makes binding offer to buy Aluminium Dunkerque from R...
Krypto Labs named Strategic Partner for World Future Energy Summit's CLIX
IRENA Commission to analyse how energy transformation driven by renewables will ...
5 Different Types of Denim and How to Wear Them
IBM signs US$85 million private cloud managed services agreement with Emirates a...
Dubai's Star Business Centre becomes the first commercial centre to accept crypt...
Princess Reema hopes to see a woman in every Saudi sports federation
ENEC CEO: Barakah will be the first nuclear energy plant in the Arab world, sett...