from today's Hotel newsbrief (2/6/2008):
Mideast Lodges 4th Year Of Double-Digit RevPAR Growth
Deloitte
February 6, 2008
"The Middle East hotel industry is still one of the fastest growing regions in the world according to year-end 2007 results from the HotelBenchmark™ Survey by Deloitte. Out performed only by Central and South America, the Middle East saw revenue per available room (revPAR) grow 17.0% exceeding both Asia Pacific and Europe.
The region also enjoyed its fourth year of double-digit growth. Average room rates were the main driver up 11.4% to US$151 while occupancy increased 5.0% to 71.6%.
Across the Middle East there were stark contrasts in performance but Jordan, Oman and Egypt were the true success stories. Jordan, after experiencing a slight fall in revPAR in 2006, saw a change in fortunes in 2007. RevPAR was up 19.0% in Amman following a stable recovery from the 2005 terrorist attacks. Success was not just limited to Amman, as the ancient stone-carved city of Petra was declared one of the ‘New 7 Wonders of the World’. According to the Jordan Tourism Board, tourist arrivals to Petra increased by 43% during the first 11 months of 2007 to just over half a million. The government is focusing on niche markets including the meetings, incentive, conventions and exhibitions market, as well as adventure tourism and religious travel." ...
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