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FINANCIAL NEWS
Dubai’s Jan-Nov hotel occupancy up 4%: E&Y
12 Jan 2012
(MENAFN) Ernst & Young’s (E&Y) said that in the January-November period of 2011, occupancy rate in Dubai’s hotels rose 4 percent to 79 percent, reported Gulf News.
E&Y added that in the period, revenue increased 4.5 percent from 2010’s same period, reaching USD172 million, to become the only tourist destination in the Middle East and North Africa (MENA) region that recorded a notable growth in occupancy and revenue.
On the other hand, it said that the average room rate (ARR) in the hotels, fell by 0.2 percent to USD216.96 from USD217.50 recorded in 2010’s first 11 months.
It is worth noting that hotels in Egypt and Bahrain led the year-to-date reductions in 2011 in room occupancies, with occupancy falling 36 percent in Cairo and 29 percent in the Arab Gulf kingdom.
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