Saudi hotels tip 20% revenues in March after occupancy boost
2012-04-29 - AMEinfo.com | Saudi Arabia | Latest News - Saudi Arabia: According to data compiled by STR Global, the Middle East/Africa region has seen positive performance in March 2012 when reported in US dollars, Saudi Gazette has reported. Occupancy in the region jumped 14.6% to 65.1%, its average daily rate increased 3.3% to $175.33 and its revenue per available room (RevPAR) jumped 18.4% to $114.07. Dubai and Abu Dhabi benefited from a fairly similar demand growth, with Dubai growing by 11% and Abu Dhabi by 9.7%. However, considering the supply growth since 2011, the impact on RevPAR performance has been quite different. "Increasing room inventory has been a dominant factor influencing performance in the past and will continue to do so as the region remains attractive for hotel owners and operators. Dubai and Abu Dhabi are interesting case studies to show how hotel markets can cope with balancing demand and supply," said Elizabeth Randall, managing director of STR Global.  

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