When reported in U.S. dollars, the Middle East and Africa region showed mixed performance in August 2014, according to STR Global.
The area reported that in August, occupancy increased by 14.8% to 64.3 percent, average daily rates dropped by 7.5% to US$141.66, and revenue per available room increased by 6.3% to US$91.09.
According to Elizabeth Winkle, managing director of STR Global, “this month RevPAR increased 6.3 percent, with occupancy growth across all sub-regions playing a major role in this growth.” “Due in part to poor performance in 2013, when the country experienced an uprising of violence as the military moved to clear protest camps and resulted in a period of political instability, Egypt reported strong performance for the second consecutive month. It is still unclear whether this improvement marks the start of a turnaround for Egypt “.
For August 2014, the following stand out among the major markets in the Middle East/Africa region (year-over-year comparisons, all values in U.S. dollars):
The largest increase in that metric was recorded in Cairo, Egypt, where occupancy increased by 180.5 percent to 58.8 percent. Cairo was followed by Riyadh, Saudi Arabia (+35.1 percent to 48.3 percent), and Beirut, Lebanon (+23.0 percent to 59.5 percent).
Nairobi, Kenya, experienced the only decrease in that metric, dropping 13.8 percent to 58.1 percent. Nairobi also exhibited the greatest decline in RevPAR, dropping 18.2% to US$81.00.
The largest ADR growth was recorded in Cape Town, South Africa (+8.7% to US$100.60), and Cairo (+8.6% to US$108.29).
Dubai, United Arab Emirates, experienced the biggest drop in that metric, dropping 5.6 percent to US$181.83 in ADR.
Six markets saw RevPAR increase by more than 20.0 percent: Beirut (+23.2 percent), Jeddah, Saudi Arabia (+21.2 percent), Cairo (+204.6 percent to US$63.65), Riyadh (+28.7 percent to US$103.45), Cape Town (+26.8 percent to US$61.46), Manama, Bahrain (+24.1 percent to US$110.52), and Cape Town (+26.8 percent to US$61.46).