Hotels in Middle East have highest occupancy
March 1: A study conducted by Deloitte, a business consultancy, and STR Global has revealed that hotels in the Middle East have had highest hotel occupancy in the world last year. According to the study, hotels in the region also have highest room rates and revenue per available room (revPar).
Hotel occupancy in the Middle East hit 61.3 per cent in 2009 while average room rates and revPar were $202 and $124 respectively. “RevPAR stands US$44 higher than Europe, the next best performing region. The amount of new room supply that entered Middle East last year intensified drops in occupancy, and put downward pressure on average room rates. However, the first signs of recovery are on the horizon,” said Alex Kyriakidis, Global Managing Partner of Tourism Hospitality & Leisure at Deloitte.
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