Middle East Hoteliers Top Performer
A new survey by Deloitte and STR Global shows that Middle East hoteliers have been ranked as the top performer for July, despite challenging times in the region. Revenue per available room (RevPar) increased .44 percent from June to July compared to a drop of 12.23 percent last year.
The Middle East beat the Americas, Europe, and Asia Pacific with the highest RevPar of $126.90 for the year ending July 2009. Middle East hotels had the lowest fall in RevPar at 17.7 per cent during this period compared with falls of 30.2 percent in Europe, and 28.6 percent in Asia Pacific. Occupancy in the Middle East fell 10.2 per cent to 62.8 percent compared to 2008. Managing Director for STR Global said “RevPar Growth in the region in July showed some signs of improvement in the Middle East with the UAE and Dubai making significant gains.”
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