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FINANCIAL NEWS
UAE hotels report 2.4% fall in Sep occupancy
28 Oct 2012
(MENAFN) STR Global announced that occupancy levels at hotels in the UAE fell 2.4 percent in September from a year ago to 66.6 percent, reported Arabian Business.
In the month, average daily rates (ADR) slipped 2 percent, whereas revenue per available room (RevPAR) went down by 4.4 percent.
The Middle East and Africa region posted a 5.4-percent gain in occupancy rates to 60.7 percent, whereas ADR dipped 1.7 percent to USD137.76 and RevPAR rose by 3.6 percent to USD83.63.
In Saudi Arabia, occupancy levels jumped 20.6 percent to an average of 50.8 percent, and RevPAR grew 19.2 percent, however, ADR went down by 1.1 percent.
In Cairo, occupancy increased by 24.6 percent to 52.3 percent, and they grew by 20.8 percent in Muscat to 59.0 percent.
It is worth noting that in Amman, ADR climbed by 10.1 percent to USD156.07.
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Bank of Bahrain and Kuwait BSC announces the transfer of HSBC Middle East, Bahrain Retail Business to BBK.
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