Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

UAE - Hospitality picking up  Join our daily free Newsletter

MENAFN - Khaleej Times - 09/12/2013
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) Dubai's hotel industry is one of the strongest performers in the Middle East and Africa with higher revenues and profitability despite slight decline in occupancy in October this year, latest reports have revealed.

Abu Dhabi's hospitality sector also picked up momentum and recorded the highest rise in occupancy levels in the GCC with a 15.8 per cent increase to 76.7 per cent in October, while its 10.7 per cent surge in average daily rates, or ADR, to 172.77 was the largest increase in that metric in the region, according to data compiled by STR Global.

The latest HotStats survey by TRI Hospitality Consulting Middle East also said hotels in the capital registered substantial growth in revenues and profits during October due to the Eid Al Adha holidays and a number of international events like the Abu Dhabi Film Festival and the Fifa under-17 World Cup, among others, hosted by the emirate.

The HotStats survey witnessed growth in top-line performance, which boosted profit levels by 47.3 per cent as gross operating profit per available room reached 117.43 in October. It noted 30.6 per cent growth in revenue per available room, or RevPAR, to 145.13 due to an 8.4 percentage point increase in occupancy levels and a 16.8 per cent rise in average room rates to 182.37 during the month.

The STR Global data also showed that only three markets in the Middle East achieved RevPAR of more than 10 per cent in October. Abu Dhabi hotels recorded the highest rise of 28.2 per cent to 132.46 while Beirut and Muscat recorded a 17.3 per cent (72.17) and 11.5 per cent (173.66) increase, respectively.

"The growth in Abu Dhabi's top-line performance was attributed to the city hosting a number of high-profile international events, including the Abu Dhabi Film Festival and the Fifa U-17 World Cup, which attracted nearly 80,000 visitors during the first two weeks of the competition," said Peter Goddard, managing director of TRI Hospitality Consulting in Dubai.

He said corporate and Mice activities resumed as the capital hosted several international medical conferences. Leisure tourism was propelled in the wake of the Eid Al Adha holiday, as the city provided a variety of family-friendly shopping and entertainment options, he added.

 


Khaleej Times




  MENA News Headlines
 May 6 2015 - HE the Chief of Staff Meets French CommanderQatar News Agency
(MENAFN - QNA) HE the Chief of Staff of the Qatari Armed Forces Major General (Pilot) Ghanim bin Shaheen Al Ghanim met Wednesday with Chief of Staff of the visiting French Army General Jean-Pierre ...

 May 6 2015 - Croatian Deputy Prime Minister Meets Qatari AmbassadorQatar News Agency
(MENAFN - QNA) Deputy Prime Minister and Minister of the Interior of the Republic of Croatia, Ranko Ostojic, met here on Wednesday with Qatar's Ambassador to the Republic of Croatia, HE Sheikha Moza ...

 May 6 2015 - Pakistani Army Chief of General Staff Meets Qatar's AmbassadorQatar News Agency
(MENAFN - QNA) Pakistan Army Chief of General Staff Rashid Mahmood met here today with HE Qatar's Ambassador to Pakistan Saqr bin Mubarak Muhammad Saqr Al Mansouri. Talks during the meeting focused ...

 May 6 2015 - Advisory Council's Services Committee MeetsQatar News Agency
(MENAFN - QNA) The Advisory Council's Services and Public Facilities committee on Wednesday held its first meeting during the council's 43rd regular session under the chairmanship of its rapporteur ...

 May 6 2015 - Municipality Minister Meets Tunisian Environment MinisterQatar News Agency
(MENAFN - QNA) HE Minister of Municipality and Urban Planning Sheikh Abdul Rahman bin Khalifa Al-Thani on Wednesday met at his office with Tunisian Minister of Environment and Sustainable ...

 May 6 2015 - HE State Defense Minister Holds Meetings in TurkeyQatar News Agency
(MENAFN - QNA) HE Minister of State for Defense Affairs Major-General Hamad bin Ali Al Attiyah met Wednesday with Turkish Minister of Defense Ismet Yilmaz on the sidelines of the International ...

 May 6 2015 - Minister of Justice Meets Heads of GCC DelegationsQatar News Agency
(MENAFN - QNA) HE the Minister of Justice Dr. Hassan bin Lahdan Al Mohannadi met here on Wednesday with the heads of delegations participating in the first meeting of GCC officials for family ...

 May 6 2015 - Dubai's Jumeirah Group logs 5.2 percent revenue growth in 2014MENAFN
(MENAFN) Jumeirah Group, the Dubai-based hotel developer, recorded a revenue growth of 5.2 percent for 2014, marking a decline from the 8 percent reported a year ago, Arabian Business ...

 May 6 2015 - Two dead, 8 injured in Azraq - JordanJordan News Agency
(MENAFN - Jordan News Agency) Two citizens were killed and eight injured when two cars collided in Azraq town, north-east the Kingdom, Civil Defense Directorate said.Rescue teams in Zarqa governorate ...

 May 6 2015 - Israel test launches missile propulsion systemJordan News Agency
(MENAFN - Jordan News Agency) Israel tested a ballistic propulsion system for a satellite delivery Tuesday morning.A statement by the Defense Ministry said that the launch, conducted over central ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help