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FINANCIAL NEWS
ME hotel occupancy rates decline in H1
25 Jul 2010
(MENAFN) The Middle East was the only region globally to see declines in hotel occupancy and average daily rates (ADR) during the first half of the year, Gulf News reported.
Latest data from industry experts STR Global showed the region’s hotels still achieved the highest ADR at $201.
The Middle East also achieved the highest figure for revenue per available room (revPAR) in the world in the first half of the year at $125.
South African hotels enjoyed large increases in all three performance metrics in June, STR Global said, adding that Beirut, Lebanon, was the only other key market to report an occupancy increase – up 22.6 percent to 69.3 percent.
The market?s occupancy fell 23.8 percent to 54.9 percent, ADR dropped 29.2 percent to $157.41, and RevPAR decreased 46.1 percent to $86.46.
In Saudi Arabia, occupancy levels were down by eight percent in June compared to the same month last year.
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