A 32-year-old Dubai Golden Visa Awardee, Stalter has three professional wins including the 2020 Euram Bank Open and two Challenge Tour titles
Hotels in the Middle East did post a 17.5 per cent decline in revenue per available room, or revPAR, to $132, in the first six months of this year up to June 30. But this was significantly lower to the dip suffered by hotels in several other regions in the world, the study shows. Hotels in the Middle East could also register the highest global levels of 63 per cent both in terms of occupancy and average room rates in the period, though this was lower than the last year’s levels.
Interestingly, despite this year’s drop, Dubai has retained its double-digit revPAR growth for the fifth consecutive year, and has managed to grow its average room rates year-on-year despite the influx of supply entering the market every year. The emirate demands the second highest revPAR in the region after Abu Dhabi, and the fourth highest revPAR in the world. Abu Dhabi on the other side posted a revPAR growth of 6.9 per cent.
The study was conducted by industry consultants Deloitte relying on the data provided by the Smith Travel Research, considered to be the leader of global hotel benchmarking.
Beirut achieved the strongest revPAR growth, not only in the Middle East, but also worldwide, up a staggering 124.4 per cent to $117. “Increased political stability helped the city’s hoteliers increase occupancy by 72.1 per cent to reach 66.9 per cent, while average room rates grew 30.3 per cent to $175,” the study report said quoting Rob O’Hanlon, Tourism, Hotel and Leisure partner at Deloitte in the Middle East
Amman posted a revPAR growth of 3.2 per cent while Jeddah could achieve 20.4 per cent growth.
On the flip side, the Middle East cities Riyadh, Muscat, and Cairo reported declines in revPAR during the period.
Globally, hotels in almost all the regions reported a double-digit revPAR declines in excess of 15 per cent, on an average, in the period.
The worst-affected were the hotels in Europe, with revPAR falling 31.3pc to $75. However, in Euros negative growth was less severe, falling 20.8 per cent to €55. North America followed closely behind the Middle East, with revPAR falling 19.3 per cent.
The region achieved the lowest revPAR in the world at $54, driven almost equally by declines in occupancy and average room rates. “At the half-year stage, it is not surprising that hoteliers around the world are feeling the heat. This time last year, we could not have predicted that hotel performance would have been as severely affected as it has been. The global economic crisis has hit businesses and consumers hard in all corners of the globe and, as they tighten their travel budgets, the travel and tourism industry, in turn, has suffered. This has resulted in suppressed demand and more vacant hotel rooms around the world,” the study report said quoting Alex Kyriakidis, the head of the tourism, hospitality and leisure division of Deloitte Global.
A 32-year-old Dubai Golden Visa Awardee, Stalter has three professional wins including the 2020 Euram Bank Open and two Challenge Tour titles
The country also renewed its demand for Iran to 'end its occupation of three UAE islands, Greater Tunb, Lesser Tunb, and Abu Musa'
Number of environmentally friendly vehicles reached 2,274 vehicles, which carried out more than 8,598,399 trips
The bidders requested the delay by another month as they wanted more time to prepare for the auction
The tourism and hospitality sector grew by 26 per cent, representing 11.7 per cent of the Emirates’ GDP last year
The UAE is on the brink of transforming urban mobility with the official launch of air taxi services
Dozens of international and domestic flights cancelled, and nearly 40,000 troops were on standby for relief missions
Precious metal rates eased on Monday but remained near last week's record highs