STR Global posts Middle East/Africa April 2009 results

The Middle East/Africa region reported declines in all three key measurements in year-over-year results when reported in U.S. dollars for April 2009, according to data compiled by STR Global

The region’s occupancy dropped 13.0 percent to 66.8 percent; average daily rate decreased 1.3 percent to US$164.41; and revenue per available room decreased 14.1 percent to US$109.80. “It is getting harder to find a positive angle in the Middle East/Africa performance data,” said James Chappell, managing director of STR Global. “The region, which had been insulated somewhat from the effects of the global economic recession in the past, now seems just as susceptible as are the other three global regions. Still, the region reported the highest achieved RevPAR for the month at US$109.80 and the softest growth decline (-14.1 percent) in that measure.”

Highlights from key markets in the Middle East/Africa region (percentages are April 2009 vs. April 2008):

  * Beirut, Lebanon, reported the largest increases in all three key metrics. It was up 84.5 percent in occupancy to 78.5 percent, it rose 36.9 percent in ADR to US$173.73 and it increased 152.5 percent in RevPAR to US$136.30.

  * Three markets reported occupancy decreases of more than 20 percent: Johannesburg/Pretoria, South Africa (-26.6 percent to 53.4 percent); Riyadh, Saudi Arabia (-23.4 percent to 65.6 percent); and Muscat, Oman (-21.7 percent to 61.1 percent).

  * Aside from Beirut, three other key markets reported double-digit increases in ADR: Jeddah, Saudi Arabia (+23.3 percent to US$176.53); Amman, Jordan (+13.4 percent to US$155.17), and Muscat (+12.7 percent to US$296.17).

  * Istanbul, Turkey, reported the largest decrease in ADR, which was down 26.7 percent to US$194.12. Istanbul also reported the largest RevPAR decrease, falling 32.2 percent to US$139.54.
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