FINANCIAL NEWS

Marriott’s MidEast RevPAR outpaces global growth in Q2

14 Jul 2012

(MENAFN) Global hotel chain operator Marriott International said comparable system-wide revenue per available room (RevPAR) for its Middle East North Africa (MENA) operations grew by 10.7 percent in the second quarter of 2012 compared to 6.7 percent worldwide, Arabian Business reported.

The hotelier giant also said its hotels in the region saw a 7.6 percent increase in occupancy in the second quarter.

CEO Arne M Sorenson that the company’s development pipeline totaled 115,000 rooms at the end of the second quarter.

Marriott added 29 new properties (5,058 rooms) to its worldwide lodging portfolio in the second quarter, including the Courtyard by Marriott Riyadh Diplomatic Quarter and the Marriott Executive Apartments Riyadh.

The company said it expects to see comparable system-wide RevPAR of 6-8 percent in the third quarter of 2012 worldwide.

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