STR Global Posts Middle East and Africa Performance Results for March 2010
The regions occupancy rose 2.9 percent to 67.6 percent, average daily rate increased 3.6 percent to US$161.75, and revenue per available room grew 6.6 percent to US$109.29.
The Middle East/Africa region reported increases in all three key measurements for March 2010 when reported in U.S. dollars, according to data compiled by STR Global.
The region’s occupancy rose 2.9 percent to 67.6 percent, average daily rate increased 3.6 percent to US$161.75, and revenue per available room grew 6.6 percent to US$109.29.
“Hotels in the Middle East/Africa region posted their second month of RevPAR growth in March, finishing the first quarter with a 1-percent increase”, said Elizabeth Randall, managing director of STR Global. “The region’s performance was pushed up by strong results from African hotels whilst Middle Eastern hotels reported RevPAR declines for the month and the quarter.
“However, March was the second month Middle Eastern hotels reported occupancy increases and less severe ADR declines, indicating the region has started to recover”, Randall continued. “Furthermore, Middle Eastern hotels reported the highest ADR with US$212 of all world sub-regions for the month of March.”
Highlights among the region’s key markets for March include (year-over-year comparisons, all currency in U.S. dollars):
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