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Jeddah's hotel revenues report weak results in August
(MENAFN) Four and five star hotels in Dubai reported weakening performance levels in August, with revenue per available room (RevPAR) declining 10.1 percent to USD147.45 for the month.
Due to a marginal rise in occupancy levels by 0.6 percent, the contraction in room revenues was led largely by average room rates (ARR) falling 10.8 percent to USD196.49.
Profitability levels remained under pressure as key operating expenses rose, causing gross operating profit per available room (GOPPAR) to drop by 9.8 percent to USD69.10.
Overall room revenue was further impacted by a 6.2 percent reduction in ARR to USD152.64, resulted in RevPAR decreasing 11.6 percent to USD99.27, and as a consequence, TRevPAR contracted by 10.5 percent.
Due to a marginal rise in occupancy levels by 0.6 percent, the contraction in room revenues was led largely by average room rates (ARR) falling 10.8 percent to USD196.49.
Profitability levels remained under pressure as key operating expenses rose, causing gross operating profit per available room (GOPPAR) to drop by 9.8 percent to USD69.10.
Overall room revenue was further impacted by a 6.2 percent reduction in ARR to USD152.64, resulted in RevPAR decreasing 11.6 percent to USD99.27, and as a consequence, TRevPAR contracted by 10.5 percent.
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