STR Global, an American company that tracks supply and demand data for the hotel industry, recently revealed the figures for March 2014, which indicate a better climate for hoteliers in the UAE.
They also highlight an increase in occupancy rates,from 1.1 per cent to84 per cent(overall) in the past month alone.While occupancy grew, the average daily rate (ADR) of hotel rooms fell slightly by 0.2 per cent, reaching AED871.91.
Meanwhile, Abu Dhabi’s Tilal Liwa Hotel reports that its growth has been impressive in 2013. The hotel’s occupancy rates increased by six per cent, while guest levels surged by 91 per cent, when compared with 2012.
Elizabeth Winkle, managing director at STR Global, says: “Doha, Dubai and Muscat have achieved occupancy levels of more than 80 per cent, but other markets, including Beirut, Cairo, Riyadh and Sandton, posted occupancies of 38.9 percent, 37.6 per cent, 71.8 per cent and 67.9 per cent, respectively.”
While Riyadh may have not hit the 80 per cent mark, Jeddah accomplished a feat of its own, as the report reveals: “Jeddah rose by 8.5 per cent in ADR, reaching $247.56, thereby reporting the largest increase in that metric.”
Beirut, meanwhile, seems to be plummeting in the same aspect.”Beirut posted the largest occupancy decrease, falling from 25.1 per cent to 38.9 per cent. The market also reported the largest revenue per available room (RevPAR) decrease, falling by 29.8 per cent to $54.45,” it adds.
The March 2014 STR Global Construction Pipeline Report indicates that, in addition to improving occupancy rates in most countries, the Mena region has committed to building 573 hotels, which will result in an addition of 1,350,000 new rooms. The hotels included in the report were categorised into three stages: in construction, planning and final planning.