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MENA Hotel Performances Split in 2011
Turkey, Kuwait and Saudi Arabia Best Performing Markets
while Struggles Continue Elsewhere in Region
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News for the Hospitality Executive |
| January 2012
- MKG Hospitality’s December and end-of-year hotel results are out for
the Middle East & North African regions, showing clear-cut trends
and a division in hotel performances. Turkey, Kuwait and Saudi Arabia
are easily the best performing markets. End-of-year hotel results 2011 show a clear division throughout the Middle East & North Africa region, with the GCC recovering whilst the rest still struggling.  “Most of the GCC (excluding Bahrain of course, which has had its fair share of internal unrest) is clearly on the upturn, generally performing well and ending the year on a good note. No doubt, the GCC has benefited from the return of business and MICE tourism, intra-regional travel, as well as the consolidation in the supply boom,” states Director of Development, MKG Hospitality, Vanguelis Panayotis.  MKG - MENA 2011 Results per country “These better results in demand are a good sign that the hotel cycle is turning for the better. However, there are also fears that 2012 will be an uphill battle, prone to the global economic slowdown, especially in key source markets Europe and North America,” adds Panayotis. In the rest of the region, namely North Africa and the Levant, negative results were to be expected for most – and assured – due to the geopolitical situation in the region. Bahrain and Egypt are the two worst-off locations, with RevPAR declining by over 52% and almost 50%, respectively. Small signs of hope are appearing in some markets, such as Morocco, with the decline in RevPAR slowing down and demand almost stabilising. Algeria, Lebanon and Jordan all see better results in demand for the month of December; perhaps a sign that the cycle is also starting to turn here. “Even if stability in the region returns, and manages to convince traveller’s conscious, tourism and hoteliers are unlikely to enjoy full-fledge recovery. It will however be interesting to see if ultra low packaged rates convince many to use this as an excuse for a cheaper holiday, and even more interesting to see just how 2012 results compare to the severely depressed figures in 2011,” concludes Panayotis. ABOUT MKG Group Established in 1985 by Georges Panayotis, MKG Group has built a solid reputation for business expertise and substantial European-based know-how in the fields of tourism, lodging and food service. MKG Group meets the needs of each of its clients by providing valuable analytical and decision-making skills necessary for success. www.mkg-group.com |
| For further information , please contact : MKG Group - International Development Department Vanguelis Panayotis T. : +33 (0)1 56 56 87 87 [email protected] MKG Hospitality - Media Contact Michael Komodromou Tel: +44 (0)20 7624 4030 [email protected] Web: www.mkg-hospitality.com
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