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marriott

Marriott posts growth in Mideast occupancy rates

: Saturday, August 02 - 2014 @ 05:12

Marriott International has reported strong performance in the UAE, Bahrain and Saudi Arabia, offsetting lower results from its hotels in Egypt in the second quarter of the year, Saudi Gazette has reported. The company reported a total net income of $192m for the three months to the end of June, up 7% year-on-year, and revenues of $3.5bn, up from $3.3bn during the same period in 2013. In the Middle East & Africa, RevPAR climbed 4.9% to $116.06, occupancy up 2.1 percentage points to 63.4% and ADR up 1.5% to $183.10. Systemwide, revenue per available room (RevPAR) was up 5.8% to $116.63, while occupancy was up 1.7 percentage points to 77%. Meanwhile, the average daily rate (ADR) was up 3.5% to $151.39.

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Saturday, August 2- 2014 @ 5:12 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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