FINANCIAL NEWS

Profits of Abu Dhabi hotels soar 72.9% in Feb

06 Apr 2013

(MENAFN) TRI Hospitality Consulting stated that profits of Abu Dhabi hotels surged by 72.9 percent in February from the same period a year before, reported Arabian Business.

Average room rates at the emirate’s hotels rose by 10 percent to USD203.30, while occupancy grew by 18.6 percent to 80.8 percent, boosting revenue per available room (RevPAR) by 43 percent to USD164.20.

Meanwhile, demand driven by conferences held in the capital of the UAE during the month raised total revenue per available room (TRevPAR) by 36.4 percent to USD323.95, lifting gross operating profit per available room (GOPPAR) by 72.9 percent to USD126.21.

According to TRI, several Arab cities posted growth in February’s hotel occupancies, with Dubai’s growing by 5.3 percent to 90.1 percent, while Kuwait’s by 6.4 percent to 60 percent.

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