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Articles tagged Market Report Middle East

Market Report Middle East

MEADFA Highlights: Africa and the Middle East Reactivate

The ForwardKeys team of travel experts have been closely monitoring the winds of change in the travel sector since the pandemic unleased, and up until recently, the air ticketing data was showing the Americas, especially the Caribbean, as the sole game changers when it comes to real-time travel recovery. However, Africa and the Middle East are also proving to be much more resilient.

Market Report Middle East

Middle East Q3 2021 Hotel Performance Update - STR

Several countries in the Middle East have been racing ahead of the rest of the world in vaccination rollout. The United Arab Emirates is a prime example with more than 86% of its population fully vaccinated as of 25 October 2021, according to STR.

Market Report Middle East
Infographic - Source - STR - Middle East Hotel Occupancy during Ramadan

Middle East Ramadan Hotel Occupancy Approached 2019 Level

The Middle East’s highest Ramadan occupancy level (53.1%) came during the week of 10-16 May. Key Middle East markets have also showed continued week-to-week performance improvement due to Ramadan and Eid al-Fitr.

Market Report Middle East

Ramadan and Eid Al-Fitr Impact on Middle East Hotel Occupancy - STR

On Tuesday, 11 May, Muslims across the Middle East set their eyes to the sky in search of the crescent moon that would signal the end of Ramadan, the holy month of prayer and fasting. The moon, however, was not sighted, and the Supreme Court of Saudi Arabia announced Eid al-Fitr, or the breaking of the fast and end of Ramadan, will instead fall on Thursday, 13 May.

Market Report Middle East
Infographic - Source - STR - Dubai Hotel Occupancy

Dubai and Abu Dhabi Bookings Affected by Uncertainty - STR

Hotels in the Middle East have shown resilience throughout the pandemic, with performance at higher levels compared to other parts of the world. Those higher levels have been highlighted by the region’s key markets. Dubai was virtually the only tourist destination open for international leisure travel, while Abu Dhabi hosted the International Defense Exhibition (IDEX) in person in late February 2021 with zero quarantine requirements for international arrivals.

Market Report Middle East
Unkown Middle Eastern destination

Case Surge Could Derail Middle East Momentum

Like the rest of the world, the Middle East’s hotel industry fell off the cliff in March and sunk deeper in April. But if May is any indication, its fortunes may slowly be turning, albeit still well off pre-COVID levels. Momentum, however, could be blunted over the resurfacing of more cases across the region and some governments unwillingness to shut their economies back down.

Market Report Middle East
Unkown Middle Eastern destination

COVID-19, Oil Spat Shock Hotel Profit in the Middle East

Measures to contain the spread of the coronavirus in the Middle East were amped up in March, but did little to limit the damage done to the region's hotel industry, which was simultaneously thumped by an oil price war between Saudi Arabia and Russia, which required international intervention.

Market Report Middle East
Unkown Middle Eastern destination

HotStats Releases MENA Annual Hotel Performance Tracker 2020

According to the published report, the total MENA region decreased year-over-year on both the revenue and profit sides of the ledger. Total revenue (TRevPAR) was down 5.8% compared to 2018, while profit (GOPPAR) declined 9.3% over the same period. The overall drop in revenue was impacted by a drop in RevPAR, accentuated by a 9.1% YOY decrease in average room rate.