|RevPar March 2013|
- Average Daily Rate (ADR): Room revenue divided by rooms sold.
- Market: A geographic area within a country. Markets are defined by STR and STR Global Limited.
- Occupancy (Occ):Rooms sold divided by rooms available multiplied by 100.
- Percent Change:Amount of growth - up, flat, or down - this period versus same period last year (month or year-to-date). Calculated as ((TY - LY) / LY) * 100.
- Revenue Per Available Room (RevPAR): Room revenue divided by rooms available.
- Rooms Available: The number of rooms times the number of days in the period.
- Room Revenue: Total room revenue generated from the sale or rental of rooms.
- Rooms Sold: The number of rooms sold (excludes complimentary rooms).
- Year-to-date: Measures (Occ, ADR, RevPAR) are calculated using the sum of the values from January 1 of the given year.
Middle East/Africa reported positive performance growth during the first quarter of 2013, increased by 3.8% in occupancy to 67.1%, a 5.4% increase in average daily rate to US$179.57 and a:
- 9.5% increase in revenue per available room to US$120.52.
- Middle East/Africa region’s occupancy rose 5.9 % to 64.3 %
- ADR was up 3.1 % to US$179.10
- RevPAR increased 9.2 %t to US$115.20.
Southern Africa was the only exception, negative RevPAR growth during the first quarter. This is mostly due to a reduction in ADR of nearly 5.0 % (in U.S. dollars). Northern African, though showing double-digit occupancy growth, is still reporting actual occupancy levels of below 50.0 %
Highlights among the region’s key markets for March 2013:
- Muscat, Oman, rose 18% in occupancy to 83.1 percent, reporting the largest increase in that metric. Doha, Qatar, followed with a 13.2-percent increase to 70.2 percent.
- Amman, Jordan (-17.7 % to 64.7 %), and Beirut, Lebanon (-17.2 %to 52.6 %), reported the largest occupancy decreases.
- Amman achieved the largest ADR increase, rising 12.7 % to US$166.44, followed by Dubai, United Arab Emirates, with an 11.5% increase to US$294.00.
- Beirut fell 21.4 % in ADR to US$151.76, reporting the largest decrease in that metric.
- 4 markets experienced double-digit RevPAR increases: Muscat (+27.8 % to US$211.14); Dubai (+14.2 % to US$257.63); Doha (+12.4 % to US$158.23); and Lagos, Nigeria (+10.0 % to US$204.19).
- Beirut fell 34.9 % in RevPAR to US$79.89, posting the largest decrease in that metric.
See you next week !!!
:) :) :)