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10-Jul-2016

Makkah hotels post rise in revenue in first half of Ramadan

Makkah was the only hotel market in the Middle East to see an increase in revenue during the first half of Ramadan, according to a report by STR, which compared preliminary daily data for six hotel markets in the Middle East from June 6-20 with that from 18 June to 2 July, corresponding to the first two weeks of Ramadan last year. The analysis showed that hotels in the city saw a 1.3% Y-o-Y increase in occupancy rates and an 8.5% increase in average daily rate (ADR), leading to a RevPAR increase of 9.9%. Hotels in Muscat experienced the steepest RevPAR decline during the two-week period, falling 23.4% Y-o-Y, on an 11.4% decrease in occupancy rates and a 13.8% drop in ADR. Dubai hotels recorded a 2.9% Y-o-Y increase in occupancy rates over the same period, but ADR was down 9.0%, resulting in a 6.4% decrease in RevPAR. (Arabian Business)

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