In July, hotels in the Middle East saw occupancy increase 5.8 percent to 59 percent while ADR decreased 5.8 percent to USD125.07 and RevPAR dipped 0.3 percent to USD73.82.
According to STR’s August 2017 Pipeline Report, the Middle East reported 98,027 rooms in 309 projects were in construction during the month, a year-on-year increase of 17.2 percent in terms of guestrooms.
STR’s July 2017 Pipeline Report showed that 166,166 units in 590 hotel projects were under contract in the Middle East during the month, a 6.6 percent rise in rooms over July 2016.
According to STR, hotels in Dubai reported negative year-on-year performance in July, consistent with the shift in Ramadan dates which meant Eid Al-Fitr fell in June, compared to 2016 when the busy holiday period was in July.
STR’s May 2017 Pipeline Report revealed that 159,711 keys in 581 hotel projects were under contract in the Middle East, a 3.8 percent year-on-year increase in the number of rooms in the construction or planning stages.
According to STR’s preliminary data for March, hotels in Dubai experienced a challenging month with RevPAR declining 11 percent year-on-year to AED652.61 (USD177.68), driven down by the continued growth in supply.
Sharjah hotel occupancy levels grew 5.5 percent during January compared to the same month in 2016, according to the latest report from STR, a firm that provides global data and analysis for the hotel industry.
In January, hotels in Sharjah recorded a 5.5 percent year-on-year growth in occupancy, according to the latest report by STR.
The Baird/STR Hotel Stock Index increased 6.1 percent in July to close the month at 3,320, with the year-to-date index up 7.3 percent. “As US hotel lodging performance continues its period of slow growth,
Hotels in the Middle East witnessed a weaker performance in the second quarter of the year (Q2), as compared to the same timeframe in 2015, according to STR's report. In terms of the three key performance indicators, the region recorded a 62.9