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MEA January 2016 hotel pipeline update

Sophia Soltani by Sophia Soltani
February 16, 2016
in News
A A

According to the January Pipeline Report from STR Global, there are 538 hotels totalling 151,771 rooms under contract in the Middle East and 321 hotels totalling 62,194 rooms under contract in Africa. shutterstock_242771056

The Under Contract total in the Middle East subcontinent represents a 42.8% increase in rooms under contract compared with January 2015 and a 50.4% YoY increase in rooms under construction. The Middle East reported 80,350 rooms in 251 hotels under construction for the month.

The Under Contract total in the Northern Africa and Southern Africa subcontinents represents a 49.3% increase in rooms under contract compared with January 2015 and a 40.5% year-over-year increase in rooms under construction. Africa reported 28,840 rooms in 156 hotels under construction for the month.

Among the key markets in the Middle East and Africa, Makkah, Saudi Arabia, reported the largest number of rooms under construction with 21,068 rooms in 13 hotels. Three other markets reported more than 5,000 rooms under construction: Dubai, United Arab Emirates (19,846 rooms in 63 hotels); Riyadh, Saudi Arabia (6,738 rooms in 30 hotels); and Doha, Qatar (5,980 rooms in 26 hotels).

Based on daily data from January, Abu Dhabi reported:

  • increases in supply (+4.0%) and demand (+5.3%)
  • a 1.3% increase in occupancy to 75.5%
  • a 6.6% decrease in average daily rate to AED519.75
  • a 5.4% decrease in revenue per available room to AED392.44

While a drop in ADR pushed year-over-year RevPAR comparisons into negative figures, STR Global analysts see lower rate in the market as an indicator of strong and growing occupancy levels. January occupancy was boosted in the beginning of the month by increased vacation travellers from Russia and other Commonwealth of Independent States. Abu Dhabi also hosted the World Future Energy Summit from 18-21 January.

 

Tags: abu dhabu hotelsafrica hotelshospitality industryHotel News MEHotelshotels under constructionMEA pipelinemiddle east hotelsmiddle east pipelinepipeline reportPipeline YearbookSTR Global

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