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FINANCIAL NEWS
Marriott’s ME, Africa Q1 RevPAR rises 11%
25 May 2013
(MENAFN) Marriott International, Middle East and Africa, president and managing director, Alex Kyriakidis, stated that the hotel operator’s revenue per available room (RevPAR) during the first quarter grew by over 11 percent, reported Arabian Business.
Kyriakidis said that in the three-month period, occupancy rose by 4.1 percent.
The US hotel company, which will increase its properties in the region by double in 4 years, inked agreements to launch properties that will add 1,027 rooms.
They company’s new planned launches comprise the 186-room Rabat Marriott Hotel that will open in 2014 in Morocco and a 181-room Constantine Marriott Hotel in Algeria.
Furthermore, they include the 210-room Courtyard by Marriott Riyadh North in Saudi Arabia, to be launched in 2015.
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