News Source: www.arabianbusiness.com
Revealed: where hotel occupancy rates are highest in the Gulf
News Source/Courtesy: www.arabianbusiness.com

Courtesy/News Source: arabianbusiness.com

Hotels in Dubai are forecast to see the highest occupancy rates in the Middle East and North Africa region this year, according to new analysis by Colliers International.

The company's full-year forecast showed that hotels in Dubai Marina and JBR are set to see occupancy of 84 percent, followed by Dubai Creek and Festival City (81 percent).

However, revenue per available room (RevPAR) for the same hotels are seen falling by 11 and 7 percent to $186 and $131 respectively, Colliers said.

Hotels on Palm Jumeirah are forecast to register occupancy rates of 78 percent while RevPAR is set to decline by 9 percent while hoteliers on Sheikh Zayed Road and in Dubai International Financial Centre will see RevPAR fall by 10 percent this year compared to 2018.

In neighbouring Abu Dhabi, occupancy rates are set to be lower but RevPAR rates are poised to increase compared to last year.

The Colliers report said hotels in Abu Dhabi City will witness occupancy rates of 71 percent while RevPAR will increase by 2 percent to $73.

Beach hotels in the UAE capital are forecast to report 66 percent occupancy and a 1 percent rise in RevPAR to $144.

Ras Al Khaimah hotels are set to see 68 percent occupancy rates this year with a 10 percent drop in RevPAR while Sharjah occupancy rates are forecast to hit 65 percent with a 14 percent slump in RevPAR.

In Saudi Arabia, hotels are set to see mixed results in 2019. RevPAR is forecast to decline in Riyadh, Jeddah and Madinah by 5 percent, 8 percent and 2 percent respectively but are set to increase in Makkah by 2 percent.

In Bahrain, hotels in the capital Manama are forecast to see occupancy rates of 56 percent with RevPAR increasing by 6 percent compared to 2018 while in Oman, hotels in Muscat will see occupancy rates of 57 percent with a 3 percent drop in RevPAR.

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News Source: www.arabianbusiness.com

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