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FINANCIAL NEWS
UAE tops Arab countries in hotels occupancy over 2015
29 Jan 2016
(MENAFN) In spite weighing challenges such as global economic slowdown, geo-political situation, oil price free-fall, and strong US dollar; hotels in the UAE logged the top occupancy rate in 2015 amongst the Arab nations.
As opposed to 2014, the Middle East posted a 2pct fall in occupancy to 67.4 percent, plus average daily rate (ADR) for the year slumped 2.6pct to USD192.82 and income per available room (PAR) dipped 4.6pct to USD129.98.
Additionally, the UAE recorded the best result for each of the three key performance metrics, coming at a high 74.8 percent, although it also witnessed an overall deterioration like other Middle Eastern markets.
The Emirates hotels’ ADR slipped by 6.2 percent to USD192.6 and revenue PAR fell by 6.7 percent to USD143.7, plus the country also saw supply growth of 6.2 percent, surpassed demand growth of 5.6 percent in 2015.
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