Ernst and Young have released the latest issue of its Hotel Benchmark Survey for the Middle East, showing a very impressive performance for the region's hotels.
According to the report the average occupancy in Dubai hotels was 79% in the 10 months ending October this year. This is an increase of 5.6% compared to the same period of 2011. The Revenue Per Available Room (RevPAR) saw an even bigger increase, up 12% in the first 10 months of the year compared to the same period in 2011, and the average room rate was up by 8.7% as well over the same period.
For the month of October alone average RevPAR increased by 17.3% compared to last year, while the average room rate increase by 9.7%. According to Yousef Wahbeh, MENA Head of Transaction Real Estate at Ernst & Young, this clearly portrays Dubai's increasingly stable and growing tourism industry in light of the winter season, and that the Emirate is not only a key destination for tourists, but also a major business hub in the region.
The report also shows an incredibly strong performance for Amman where occupancy rates increased by 18% in the 10 months ending October, compared to last year, while RevPAR increased by 13.1% and the average room rate by 3.1%. According to Ernst and Young the growth can be attributed to increased political stability making it a safer place to visit.
Apparently Egypt is also attracting increased visitors again, with occupancy in Cairo hotels up by 11.1% year on year in October, Sharm El Sheikh hotels up by 6% and Hurghada hotels by 5%. Saudi Arabia's Makkah is also worth a mention, with occupancy increasing by 30% year on year in October. This is accredited to the Hajj season, with Muslims travelling from all over the world to Makkah.
- Wednesday 12 December 2012