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Kuwait City Hotel Occupancy Nearly Doubles Since 2000 Despite the Expansion of New Hotel Rooms
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Boom in the hospitality sector set to continue

Kuwait, March 2004:  Results in a leading hospitality consultancy survey revealed this week that Kuwait City has jumped to top spot in worldwide rankings for hotel occupancy rates in 2003 – and achieved second place for revenue per available room (RevPAR) as well as third-place ranking for average room rate.
 

These laudable results demonstrate the viability of the States hospitality sector, according to Hannes Yaghi, general manager for Le Meridien in Kuwait, who predicted even better times ahead.

“Hotel occupancy has nearly doubled since 2000, despite the expansion of hotel room stock in Kuwait, and the Deloitte Hotel Benchmark Survey reported that the nation rose from 143rd slot worldwide to number one in 2003 – with an average occupancy of more than 85 per cent,” he said.
 


Hannes Yaghi
General Manager
Le Meridien Kuwait
“Combined with average room rates that regularly top the $200 mark, and you get a very healthy picture of the hotel sector in Kuwait, and one that is revealing for those who doubted the state could support the current growth in hotel room numbers.”

Yaghi said the results also underpinned the wisdom of Le Meridien’s strategy in partnering with the A’amal Holding to undertake a phased development of hospitality projects in Kuwait.

“After refurbishment and relaunch of the former Ritz Hotel as Le Meridien Kuwait, we now have Le Meridien Tower Kuwait scheduled to open soon as the first hi-tech boutique property in the region – and this will be followed within two years by further hotel, residence and conference centre projects,” he said.

“Where once there was very little choice for the business traveller in Kuwait, now the market is maturing and we are seeing growth in all sectors of the hotel industry, from budget names to residences, resorts and more.”

Kuwait’s nearest rivals in the global hotel occupancy stakes were Brisbane and Perth in Australia, both of whom scored just under 80 per cent, while the region, Dubai achieved the second highest ranking at fifth place.

Le Meridien has a joint venture with A’amal Holding to open four hotels and a conference centre in the state, and, following the opening of Le Meridien Kuwait early last year, it will introduce the second phase of expansion with the opening of the 70-room Le Meridien Tower Kuwait soon, with a third hotel in the Mubarakia area next year.

London-based Le Méridien is a global hotel group with a portfolio of 130 luxury and upscale hotels (34,000 rooms) in 56 countries worldwide.

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Contact:
Le Méridien Hotels & Resorts Ltd 
www.lemeridien.com
Also See Hannes Yaghi Highlights Le Meridien’s Policy for Six New Projects in Kuwait / June 2003
Kuwait - A Market Profile / May 2002


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