Gulf Hospitality Sector Still Recovering From Downturn
Published by Irhal
Top Industry experts said the hospitality industry in the Gulf region is still struggling to recover from the impact of the economic downturn. There have been decreases in all four key measurements in year-on-year results for September. STR Global Managing Director, James Chappell said “The region has improved, especially the UAE, considerably when compared to August, while average revenue per available room is…
Occupancy rates in the region fell 13.05 percent to 51.48 percent, average daily rates declined 10.45 percent to $197.51(Dh725.4), revenue per available room decreased 22.13 percent to $101.67, and revenues were down 15.49 percent to $396.83 million. Qatar and Saudi Arabia had the worst declines among the Gulf countries. Occupancy rates in Qatar fell over 30 percent to 37.22 percent and Saudi Arabia occupancy rates fell 26.47 percent to 47.67 percent in 2009.
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