The hotel market in Kuwait witnessed a notable growth in overall performance in September 2012 compared to the same period last year, according to the latest Hotstats by TRI Consulting survey of full service hotels in seven MENA cities.
Occupancies increased 10.3 percentage points to 60.4%, a change accredited to a post-summer increase in corporate demand in the city.
“Kuwait experienced a growth in demand in September due to increase in business activity after the summer period. The hotel market continues to benefit from the rate agreement which maintains ARR at the top of the region. Although demand has re-bounded the on-going political troubles in the country could impact future demand as government backed projects remain subdued due to the absence of political stability,” commented Peter Goddard, managing director of TRI Hospitality Consulting in Dubai.
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ARR varied slightly from the same period last year decreasing 1.8% but remained the highest in the region monitored at US $255.29 predominantly due to the rate agreement.
TRevPAR in the city increased 15.2% to $300.07 as corporate demand grew allowing for hotels to post the highest profitability rates in the region for September at $137.84, outperforming all other markets surveyed.
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