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FINANCIAL NEWS
Jeddah, Dubai shopping festivals boost hotel occupancy in Jan
04 Mar 2012
(MENAFN) A survey issued by TRI Hospitality Consulting showed that shopping festivals spurred hotels occupation in Jeddah and Dubai, resulting in big gains during January, Arabian Business reported.
The survey found increase in occupancy levels in Jeddah to 75.5 percent, while average room rate (ARR) increased by 15.2 percent to USD217.43 during the shopping festival known as Hayya Jeddah 2012.
Jeddah saw 35.2 percent increase in revenue per available room (RevPAR) to USD164.04, while the gross operating profit per available room (GOPPAR) rose by 63.7 percent to USD115.35 compared to January 2011.
In Dubai, occupancy levels, in the four and five star hotels, reached 87.7 percent, while ARR increased by 9.9 percent to USD327.41 during Dubai Shopping Festival 2012.
Dubai reported 15.8 percent increase in RevPAR to USD287.25, while GOPPAR rose by 18 percent compared to January 2011.
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