Dubai – “ASWAQ”
STR Global, a world leading hotel rating agency, has published recent findings indicating, as much as, 3.6% increase in occupancy in May year-over-year in Saudi Arabia and about 0.5% increase in the UAE. The average reported was 1.9% for the MENA region, driven by a decline in countries like Egypt, which reported only 48% occupancy, 10% less from a year earlier.
Overall, the occupancy in MENA was about to 63.5 percent in May, despite a 3.1% increase in the average daily rate(ADR). The hotel industry also hence 5.1% increase in revenue per availableroom (RevPAR)to USD 97.94.
As of May, Bahrain reported 56.9% occupancy, but has grown almost 29.7% year-over-year.Jordan led the increase in ADR with 13.8% increase to USD 184.77.
Qatar led the occupancygrowth by 13% increase year-over-year to 75.8%. Almost the same occupancy rate was also reported inthe UAE (75.3%), which posted its earnings by 2.1%, as RevPAR rose to AED 516.87. While Saudi Arabia reported 66.3occupancy rate (3.6% increase), and 2.3% increase in RevPAR to SAR422.22.
The Middle East now has almost 99,199 roomsUnder Contract. Most of which are in the United Arab Emirates and Saudi Arabia, comprising 70%.