MEA performance results for May
The Middle East/Africa region reported mixed year-over-year results in the three major performance metrics during May 2015 when reported in U.S. dollars, according to data compiled by STR Global, sister company of Hotel News Now.
The region reported a 3% increase in occupancy to 65.1%, a 5.7% drop in average daily rate to $142.54 and a 2.9% decrease in revenue per available room to $92.81.
HVS: Middle East to see 86k more rooms
The Middle East is expected to see an additional 86,000 hotel rooms between 2014 and 2020, according to a report by HVS.
At present, there are 130,000 rooms in the region and 11,000 rooms that have not been assigned completion dates, according to “2015 Middle East hotel survey peak assessments.” Most of the new inventory in the region is in Saudi Arabia, where 38,000 hotel rooms are expected to come online, bringing the total to 59,000. The kingdom is followed by the United Arab Emirates, with about 26,000 rooms being planned and built.
Halal a bridge to Muslim travel market
Global hotel chains looking for the next best and biggest business opportunity need look no further than the Muslim market, according to a report from HNN’s Patrick Mayock.
The best way to capitalize? Embracing the halal lifestyle, which dictates those activities permissible according to Islamic sharia law.
“It is one of the fastest growing segments,” said Rafi-uddin Shikoh, CEO and managing director of DinarStandard, during the Arabian Hotel Investment Conference in May.
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Article Source: Hotel News Now
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