(MENAFN) Omani hotels showed progress during last May in terms of occupancy, average room rate and yield, Times of Oman reported.
Muscat hotels' occupancy rate increased by 60 percent in May up from 54 percent for the same period last year, according to a Middle East Hotel Benchmark Survey. In addition, the average room rate and room yield rose by 1.7 percent and 12.3 percent respectively.
MENA Head of Transaction Real Estate at Ernst & Young, Yousef Wahbah, said: "May is the start of the summer season in the region when the hospitality market peak season is coming to an end and the region begins to witness the seasonal slowdown. While these seasonal factors, including increased temperatures and the holy month of Ramadan, affect the majority of MENA countries, political and socioeconomic conditions are additionally impacting other countries throughout the region."
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