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The Middle East region reported mixed performance results during February 2011 when reported in U.S. dollars, according to data compiled by STR Global. The region's occupancy ended the month with a 12.6-% decrease to 56.7%, its average daily rate rose 17.1% to $188.53, and its revenue per available room went up 2.3% to $106.92.
"This month we see the impact of the demonstrations and political changes across the Middle East and Northern Africa", said Elizabeth Randall, managing director of STR Global.
"Northern Africa dropped substantially in occupancy as visitors stayed away. Egypt's occupancy dropped 78.5% to a monthly average of 15.9%. Across Lebanon, the recent collapse of the national unity government and the indictments by the Hariri tribunal have impacted the stability of the market and resulted in a drop in occupancy to a monthly average of 39% for February. In Bahrain, occupancy levels stayed at 61%, dropping only 17%. With the recent developments in Bahrain and the enforcement of a no-fly zone across Libya, the full impact of recent events remains to be seen".
Highlights among the region's key markets for February include (year-over-year comparisons, all currency in U.S. dollars):
* Abu Dhabi, United Arab Emirates, experienced the largest occupancy increase, rising 27.3% to 74.1%.
* Two markets posted double-digit occupancy decreases: Cairo, Egypt (-80.1% to 14.6%), and Beirut, Lebanon (-46.7% to 37.4%).
* Two markets achieved double-digit ADR increases: Cairo (+24.8% to $157.42 and Cape Town, South Africa (+13.6% to $174.75).
* Beirut fell 22.7% in ADR to $187.05, reporting the largest decrease in that metric.
* Four markets experienced RevPAR increases of more than 15%: Abu Dhabi (+21.4% to $164.22); Cape Town (+19.6% to $128.35); Muscat, Oman (+18.7% to $210.81); and Riyadh, Saudi Arabia (+17.4% to $210.18).
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