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FINANCIAL NEWS
MENA hospitality industry views diverse results, average room rates fall
04 Jun 2017
(MENAFN) The MENA hospitality industry viewed mixed results in April this year as higher occupancies lower average room rates affected the whole revenue per average room (RevRAP), proclaimed MENA head of transaction real estate.
Additionally, Dubai experienced a growth across all KPIs, involving the highest RevPAR of USD273, an increase of 18.7 percent when compared to 2016.
However, Abu Dhabi hospitality market viewed a decline in RevPAR by 4.8 percent in the cited month of the year, which can be attributed to the fall in ADR from USD133 in April 2016.
Meanwhile, Muscat market witnessed an increase in average occupancy of 7.7 percent, compared to the same period of 2016.
MENAFN0406201700450000ID1095532726
MENAFN0406201700450000ID1095532726
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