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FINANCIAL NEWS
Dubai hotels report 14.2% rise in March’s RevPAR
28 Apr 2013
(MENAFN) STR Global stated that in March, hotels in Dubai recorded an increase of 14.2 percent in revenue per available room (RevPAR), to USD257.63, reported Arabian Business.
It added that the average daily rate (ADR) jumped by 11.5 percent in the month, reaching USD294.
Meanwhile, hotels in the UAE reported a rise of 3.21 percent in occupancy rates, averaging 82.8 percent, whereas ADR gained 9.2 percent and RevPAR climbed by 12.6 percent.
STR said that hotels in Amman, Jordan posted the largest increase in ADR, with a rise of 12.7 percent to USD166.44.
Furthermore, occupancy levels in Oman’s Muscat grew by 18 percent to 83.1 percent, whereas occupancy rates in Qatar’s Doha increased by 13.2 percent, exceeding 70 percent.
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BBK Successfully Closes USD Benchmark Bond Offering at $500 Million, in Collaboration with a Consortium of Regional and International Banks.
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