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FINANCIAL NEWS
Mekkah, Madina hotels record surge in occupancy in Aug
17 Oct 2011
(MENAFN) Ernst and Young, the global consulting firm, said that hotels in Mekkah and Madina recorded a notable surge in occupancy and RevPAR (revenue per available room) in August compared with 2010’s same period, reported Gulf News.
The firm added that revenue levels for Mekkah hotels in August surged 55.3 percent reaching USD722 whereas occupancy rate grew 10 percent, raising occupancy levels to 91 percent.
On the other hand, it said that revenue levels for hotels in Madina hiked 52.3 percent to USD353 compared with a year ago, while occupancy rate rose 4 percent, increasing occupancy levels to 79 percent.
It is worth noting that according to the World Trade Organization (WTO), emerging economies will be expected to receive more international tourists than the advanced economies by 2015.
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