The Middle East/Africa region reported increases in all three key measurements for February 2010, when reported in U.S. dollars, according to data compiled by STR Global.
The region’s occupancy rose 1.9 percent to 65.7 percent, average daily rate increased 1.7 percent to US$166.18, and revenue per available room grew 3.6 percent to US$109.23.
“The Middle East/Africa region reported its first positive month of RevPAR growth since the second half of 2008—resulting in only a 0.8 percent RevPAR decline for the first two months of this year, which is a marked improvement from a 10 percent RevPAR decline in the 4th quarter 2009”, said Elizabeth Randall, managing director of STR Global.
Highlights among the region’s key markets for February include (year-over-year comparisons, all currency in U.S. dollars):
• Dubai , United Arab Emirates, reported the largest occupancy increase, rising 15.9 percent to 86.2 percent, followed by Muscat, Oman, with a 10.0-percent increase to 73.2 percent.
• Abu Dhabi, UAE experienced the largest decreases in all three key metrics. The market’s occupancy fell 31.2 percent to 58.9 percent, ADR dropped 39.9 percent to US$233.03, and RevPAR decreased 58.7 percent to US$137.28.
• Three markets posted ADR increases of more than 20 percent: Beirut, Lebanon (+48.1 percent to US$243.13); Cape Town, South Africa (+33.7 percent to US$163.36); and Johannesburg, South Africa (+29.5 percent to US$100.03).
• Beirut reported the largest RevPAR increase, jumping 42.1 percent to US$169.81.
• Other than Abu Dhabi, two markets posted RevPAR decreases: Muscat (-9.9 percent to US$186.84) and Riyadh, Saudi Arabia (-1.1 percent to US$179.73).