During the first quarter, the Middle East/Africa region’s occupancy increased 1.2 percent to 65.5 percent; its ADR was up 2.9 percent to US$179.74; and its RevPAR rose 4.2 percent to US$117.72. In Europe, Athens, Greece, reported the largest occupancy increase, rising 27.0 percent to 58.8 percent. Compared to March 2013, the Americas region reported a 2.8-percent increase in occupancy to 65.2 percent.
The Middle East/Africa region reported mixed performance results during March 2014 when reported in U.S. dollars, according to data compiled by STR Global.
The region reported a 0.7-percent decrease in occupancy to 66.9 percent, a 2.1-percent increase in average daily rate to US$178.18 and a 1.4-percent increase in revenue per available room to US$119.19.
“The Middle East is once again driving the positive growth in the region”, said Elizabeth Winkle, managing director of STR Global. “Northern Africa is reporting decreases, while Southern Africa’s performance remains flat. Market performance across the region is very mixed. Doha, Dubai and Muscat have achieved occupancy levels over 80 percent, but other markets, including Beirut, Cairo, Riyadh and Sandton, posted occupancies of 38.9 percent, 37.6 percent, 71.8 percent, and 67.9 percent, respectively”.
“Cape Town, host of the 2010 World Cup, is showing favourable performance for March”, Winkle continued. “Since October 2011, the market has reported ADR growth every month, edging closer to the ADR levels achieved during the World Cup. With March posting occupancy of 79.4 percent, the market is closing the gap to its pre-global financial crisis occupancy peak of 82.4 percent achieved in March 2008. The limited supply growth of 1 percent since 2010 is aiding the recovery”.
Highlights among the Middle East/Africa region’s key markets for March 2014 include (year-over-year comparisons, all currency in U.S. dollars):
- Nairobi, Kenya, jumped 60.5 percent in occupancy to 60.5 percent, reporting the largest increase in that metric. Manama, Bahrain, followed with a 32.2-percent increase to 60.7 percent.
- Beirut, Lebanon, posted the largest occupancy decrease, falling 25.1 percent to 38.9 percent. The market also reported the largest RevPAR decrease, falling 29.8 percent to US$54.45.
- Jeddah, Saudi Arabia, rose 8.5 percent in ADR to US$247.56, reporting the largest increase in that metric.
- Doha, Qatar, fell 10.4 percent in ADR to US$187.18 posting the only double-digit decrease in that metric.
- Nairobi jumped 70.9 percent in RevPAR to US$94.15, achieving the largest increase in that metric. Manama followed with a 29.6-percent increase to US$119.14.
During the first quarter, the Middle East/Africa region’s occupancy increased 1.2 percent to 65.5 percent; its ADR was up 2.9 percent to US$179.74; and its RevPAR rose 4.2 percent to US$117.72.
The European hotel industry posted mixed results in year-over-year metrics when reported in U.S. dollars, Euros and British pounds for March 2014. “Occupancy and average daily rate during the first quarter performed on par in the region”, said Elizabeth Winkle. “Of the sub-regions, Northern Europe reported double-digit revenue-per-available-room growth in both March and throughout the first quarter. The U.K., Lithuania and Denmark are driving this growth with strong first-quarter performance. Lithuania’s strong performance is coming off low year-over-year comparisons. U.K. is reporting strong growth as its RevPAR increased 10.2 percent over last year when measured in pounds”.
“On the other hand”, Winkle continued, “Israel’s performance reported ADR declines down due to the calendar shift in holy days. This also affected the overall performance for Southern Europe”.
Highlights from key market performers for March 2014 include (year-over-year comparisons, all currency in Euros):
- Athens, Greece, reported the largest occupancy increase, rising 27.0 percent to 58.8 percent.
- Istanbul, Turkey (-16.3 percent to 61.0 percent), and Prague, Czech Republic (-10.1 percent to 57.8 percent), reported the largest occupancy decreases.
- Five markets experienced double-digit ADR growth: Copenhagen, Denmark (+16.4 percent to EUR112.85); Manchester, England (+13.2 percent to EUR86.44); Vilnius, Lithuania (+13.2 percent to EUR54.51); Tallinn, Estonia (+10.9 percent to EUR71.86); and London, England (+10.0 percent to EUR158.39).
- Moscow, Russia, reported the largest ADR decrease, falling 17.4 percent to EUR124.85.
- Three markets achieved RevPAR increases of more than 25 percent: Athens (+32.2 percent to EUR50.77); Vilnius (+29.8 percent to EUR27.25); and Copenhagen (+29.6 percent to EUR71.17).
- Istanbul fell 25.1 percent in RevPAR to EUR77.63, reporting the largest decrease in that metric.
During the first quarter, Europe’s occupancy rose 2.8 percent to 59.5 percent; its ADR increased 2.2 percent to EUR98.36; and its RevPAR was up 5.1 percent to EUR58.56.
The Americas region recorded positive results in the three key performance metrics when reported in U.S. dollars during March 2014. Compared to March 2013, the Americas region reported a 2.8-percent increase in occupancy to 65.2 percent, a 3.4-percent increase in average daily rate to US$117.93 and a 6.3-percent increase in revenue per available room to US$76.89.
Among the key markets in the region, Mexico City, Mexico, reported the largest occupancy increase, rising 15.9 percent to 71.2 percent. Santiago, Chile, followed with an 11.9-percent increase to 81.5 percent. Rio de Janeiro, Brazil, fell 10.8 percent in occupancy to 71.6 percent, posting the largest decrease in that metric.
San Francisco, California (+11.0 percent to US$185.59), and Santiago (+10.3 percent to US$206.08) achieved the largest ADR increases.
Four markets experienced double-digit RevPAR increases: Santiago (+23.4 percent to US$167.94); Mexico City (+17.0 percent to US$97.88); San Francisco (+14.0 percent to US$148.55); and Los Angeles, California (+12.5 percent to US$113.76).
Panama City, Panama, reported the largest decreases in both ADR (-9.5 percent to US$109.77) and RevPAR (-15.1 percent to US$60.53).
During the first quarter, the Americas region’s occupancy increased 2.9 percent to 59.4 percent, its ADR was up 3.0 percent to US$115.22, and its RevPAR increased 5.9 percent to US$68.42.
Tatiana is the news coordinator for TravelDailyNews Media Network (traveldailynews.gr, traveldailynews.com and traveldailynews.asia). Her role includes monitoring the hundreds of news sources of TravelDailyNews Media Network and skimming the most important according to our strategy.
She holds a Bachelor's degree in Communication & Mass Media from Panteion University of Political & Social Studies of Athens and she has been editor and editor-in-chief in various economic magazines and newspapers.
