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FINANCIAL NEWS
Hilton revenues hit in MENA region in Q2
04 Aug 2014
(MENAFN) Revenues of Hilton Worldwide in the Middle East and North Africa were impacted negatively in the second quarter of the current year due to ongoing tensions in Egypt and visa restrictions in Saudi Arabia, according to Arabian Business.
Hilton posted a 3.4 percent rise in the second quarter”s revenue per available room (RevPAR) in the MENA region reaching USD96.67.
However, occupancy fell 3.7 percent to 62.3 percent, while average daily rates (ADR) were up 2.3 percent to USD155.17.
Hilton Worldwide executive vice president and CFO Kevin Jacobs said: “In terms of our regional performance, strong performance in the Americas was slightly muted by weakness in Egypt, Saudi Arabia, Singapore and Thailand.”
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