The region’s occupancy dropped 11.5% during the month of February, according to the latest figures from research specialists STR Global.
Average occupancy now lies at 63.4% with regional revPAR also falling 11.2% to US $103.71; however, average daily rate (ADR) increased 0.4% to $163.49.
“Although we are seeing declines across the globe, the good news for the Middle East/Africa region is that, in most instances, they are still holding their average daily rates better than Asia Pacific, Europe or the Americas” said STR Global managing director James Chappell.
“Not surprisingly, the predominantly leisure markets of Dubai and Cairo dropped their rates against February last year, although Dubai is falling from a high base and Cairo had a very strong first six months in 2008.”
Beirut and Jeddah both recorded increases in occupancy while Tel Aviv, Muscat and Amman all experienced falls in occupancy of more than 20%.
Beirut and Abu Dhabi reported ADR increases in excess of 40% and four key markets posted revPAR increases: Beirut (+228.9% to $125.02); Abu Dhabi (+35.5% to $324.80); Jeddah (+21.5% to $122.79); and Riyadh (+4% to $196.36).
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