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FINANCIAL NEWS
Oman star hotels revenue falls by 8 percent in Q1
08 Jun 2016
(MENAFN) Revenues of star hotels in Oman dropped 8 percent to USD 137.14mn in Q1 of this year, compared to the same period of 2015.
Meanwhile, the fall in income was due to a drop in occupancy and to discounted room rates offered to regional residents as part of attracting local people.
Moreover, there was a 2.4 percent drop in occupancy rate, which fell down to 65.3 percent for the cited quarter of this year.
However, the number of guests in all hotels increased by 8 percent to 360,080 for Q1 2016 from 333,383 guests for the same period of 2015.
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