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FINANCIAL NEWS
Mideast hotels record drop by 53 percent in Feb
26 Mar 2016
(MENAFN) Hotels in the Middle East logged a decline of 53 percent in occupancy to 70.2 percent, compared with Feb 2015.
Moreover, average daily rate for the cited month fell down 10.5 percent to USD 182.45mn, revenue per available room fell 15.2 percent to USD 128.12.
Additionally, Dubai viewed a decrease in occupancy to 82.5 percent as well as double digits falls in ADR (-11.6 percent to USD 226.94mn).
The country’s hotel performance has fluctuated because of increase at 4.7 percent for whole-year 2015 and 6.8 percent for year 2016.
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