Increased by Four Percentage Points to 65%
|14 August 2000 - HVS International’s London
Office has recently published the 2000 edition of its annual Middle East
review, which identifies trends and opportunities in the region’s hotel
industry. The survey reports on a sample of 104 mostly branded first-class
hotels. These hotels represent more than 31,000 rooms in 13 countries throughout
the Middle East.
The report’s authors, Gerard Greene and Seamus O’Loughlin, confirmed that operating performances for hotels in the region were generally much improved in 1999 compared to 1998.
“As the region recovered from the dampening of the Asian, Russian and Middle Eastern economies in 1998, region-wide occupancy in 1999 increased by four percentage points to 65%,” said Gerard Greene, a senior associate at HVS International.
“Despite the increases in demand for hotels in the region, especially
in Egypt, strong increases in supply ensured that average rates remained
The majority of this increasing supply is likely to be branded by the
larger international hotel companies such Bass Hotels & Resorts, Starwood
Hotels & Resorts and Marriott International. Moreover, an increasing
number of new brands are entering into the region including those both
from Asia and Europe.
“The Middle East, in general, has realised that tourism is likely to become an increasingly important source of national revenues in the next few years,” said Gerard Greene.
Moreover, the authors also highlight several issues that need to be addressed if the region is to realise its full potential. These include:
Copies of HVS International’s Middle East Hotels – Trends and Opportunities 2000 report are available, free of charge, from HVS International, 14 Hallam Street, London W1W 6JG, or on their web-site: www.hvsinternational.com.
Gerard Greene, Senior Associate
Tel: +44 20 7878 7710
Seamus O’Loughlin, Associate Director
Russell Kett, Managing Director
|Also See||Egyptian Hotels Recording Exceptional Growth in Rooms Yield in1999 Hotel Benchmark Survey / Arthur Andersen/ May 2000|
|Tapping the Middle East Market / PATA / July 2000|