STR Global: Middle East/Africa July 2014 results | STR Global: Middle East/Africa July 2014 results -
STR Global

STR Global: Middle East/Africa July 2014 results

: Monday, August 25 - 2014 @ 10:37

The Middle East/Africa region reported positive performance during July 2014 when reported in U.S. dollars, according to data compiled by STR Global.

In July the region reported a 0.9-percent increase in occupancy to 49.3 percent, a 6.9-percent increase in average daily rate to US$156.54 and a 7.9-percent increase in revenue per available room to US$77.15.

“On a 12-month-moving-average basis, supply and demand growth are on par at 2.8 percent, which means occupancy growth is flat, at 61.4 percent”, said Elizabeth Winkle, managing director of STR Global.

“Ramadan occurred entirely in July which resulted in lower than usual levels of demand in what is typically the region’s weakest month of the year. The confluence of these factors resulted in lower than average performance for the month. We view this as an anomaly and would expect performance to improve in August.

“In Makkah and Medina, where the two holy cities typically welcome an influx of travellers during this time, we saw occupancy growth well over 20.0 percent for both markets in July. Makkah also saw a strong ADR increase, up 23.1 percent in July”, Winkle said.

Highlights among the Middle East/Africa region’s key markets for July 2014 include (year-over-year comparisons, all currency in U.S. dollars):

• Cairo, Egypt (+73.9 percent to 29.3 percent), and Cape Town, South Africa (+15.8 percent to 52.4 percent), reported the largest occupancy increases.
• Amman, Jordan, fell 20.2 percent in occupancy to 34.4 percent, reporting the largest decrease in that metric. Nairobi, Kenya, followed with a 16.0-percent decrease to 55.3 percent.
• Jeddah, Saudi Arabia, increased 12.5 percent in ADR to US$286.28, achieving the only double-digit increase in that metric.
• Nairobi (-5.4 percent to US$141.62) and Riyadh, Saudi Arabia (-4.8 percent to US$207.05) posted the largest ADR decreases.
• Three markets experienced RevPAR growth of more than 15.0 percent: Cairo (+82.6 percent to US$30.57); Manama, Bahrain (+20.1 percent to US$72.94); and Cape Town (+15.4 percent to US$49.76).
• Amman fell 21.4 percent in RevPAR to US$54.86, posting the largest decrease in that metric. Nairobi followed with a 20.5-percent decrease to US$78.29.

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Monday, August 25- 2014 @ 10:37 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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