Benchmark Middle East Hotel Benchmark Survey Report December 211 The hotel benchmark report provides a monthly performance overview of leading hotels in the Middle East. The hotel set includes international branded and operated properties across the 5 star and 4 star segment.
Introduction We hope you enjoy the December 211 report of the. Inside we cover occupancy and rate performance in key hotel markets across selected countries and cities in the Middle East on a monthly and year to date basis in local currencies and US dollars. This monthly Middle East Hotel Benchmark Survey and our monthly Spa Industry Benchmark Survey are part of our services to the hospitality sector. Ernst & Young s Transaction Real Estate Advisory Services team headquartered in Dubai is the leading business advisory practice in the region. Our team consists of professionals from around the globe with extensive real estate, hospitality operations and advisory experience. We understand and offer a full scope of multidisciplinary services for developers, lenders, owners and operators. Our specialist services include acquisitions, capital sourcing, highest and best use analysis, due diligence, market and financial feasibility studies, management company selection/contract reviews, strategic business planning, repositioning analysis, operational enhancement/diagnostics, valuations/appraisals and disposition, for every real estate industry segment such as hotel, residential, commercial, retail, restaurant, golf, marina, theme park and convention center. Ernst & Young is the largest professional services firm in Middle East with 2 offices in 15 countries and part of the global Ernst & Young network with over 152, people in 14 countries. Sincerely Yousef Wahbah Partner and Head of MENA Transaction Real Estate Page 3: We have highlighted the largest variance on a per month basis for the various markets over the last twelve month period in regards to occupancy, average room rate, and room yield Page 4: Dubai overall occupancy, average room rate and room yield over the past twelve months Page 5: Monthly performance of various markets compared to the previous year s monthly period in local currency. Page 6: Monthly performance of various markets compared to the previous year s monthly period in US Dollar currency. Page 7: Year to Date performance of various markets compared to previous year period in local currency. Page 8: Year to Date performance of various markets compared to previous year period in US Dollar currency.
Markets with the largest variance on a per month basis % Occupancy Sharm El Sheikh Hotels Occupancy % December 21 - December 211 9 Occupancy % 8 7 6 4 3 73 67 32 43 46 76 7 78 71 75 56 2 1 19 Average Room Rate Doha Hotels (US$) Average Room Rate December 21 - December 211 4 3 354 Average Room Rate 3 2 2 277 279 282 27 268 279 232 235 232 245 264 283 1 Rev PAR in Abu Dhabi Hotels (US$) Room Yield December 21 - December 211 3 2 254 227 Room Yield 2 1 198 197 183 176 134 116 16 128 182 16 78
Dubai overall monthly performance % Occupancy Dubai Overall Hotels Occupancy % December 21 - December 211 9 8 7 81.9 82 9.2 85.6 85.8 76.7 75.9 8.8 74.1 82.3 87.4 83 Occupancy % 6 4 3 2 1 52.6 Average Room Rate Dubai Overall Hotels (US$) Average Room Rate December 21 - December 211 3 Average Room Rate 2 2 1 235 245 256 262 269 193 156 158 147 189 255 217 254 Rev PAR in Dubai Overall Hotels (US$) Room Yield December 21 - December 211 2 2 193 21 231 224 231 21 189 211 Room Yield 1 148 119 128 14 77
Various markets monthly performance (Local Currency) Monthly Performance: 12/211 Currency: Local Occupancy Average Room Rate Rooms Yield Currency 211 % 21 % Change in % Points 211 21 Change 211 21 Change Bahrain Manama BHD 28. 54. 26. 81 94 14.6% 23 52 55.6% Egypt Cairo City EGP 25. 71. 46. 646 74 12.7% 166 529 68.7% Cairo Overall EGP 28.5 71.6 43.2 673 737 8.8% 191 528 63.7% Hurghada EGP 55. 83. 28. 195 281 3.7% 19 235 53.7% Sharm El Shaikh EGP 56. 73. 17. 39 415 25.5% 176 33 42.% Jordan Amman JOD 56. 49. 7. 12 1.8% 57 13.2% Kuwait Kuwait KWD. 54. 4. 8 83 3.4% 41 45 9.4% Lebanon Beirut LBP 64. 65. 1. 348,364 367,122 5.1% 226,281 241,462 6.3% Oman Muscat OMR 8. 79. 1. 89 97 8.6% 72 78 7.4% Qatar Doha QAR 69. 71. 2. 1,288 1,6 28.1% 89 715 24.4% Saudi Arabia Jeddah SAR 68. 7. 2. 81 775 3.5% 549 543 1.1% Madina SAR 51. 45. 6. 533 482 1.7% 277 218 26.8% Makkah SAR 57. 44. 13. 782 694 12.7% 453 37 47.8% Riyadh SAR 57. 54. 3. 874 869.7% 1 472 6.1% United Arab Emirates Abu Dhabi AED 78. 8. 2. 753 91 17.2% 589 728 19.1% Al Ain AED 6. 65. 5. 675 594 13.6% 48 387 5.3% Dubai Apartments AED 92. 82. 1. 443 444.2% 49 367 11.2% Dubai Beach AED 81. 84. 3. 1,352 1,268 6.6% 1,12 1,7 3.% Dubai City AED 83. 8. 3. 727 668 8.8% 64 538 12.2% Dubai Overall AED 83. 81.9 1. 932 863 8.1% 774 77 9.4% Notes Figures may not add up due to rounding. Cairo Overall includes: Cairo City and Cairo Pyramid Hotels. Dubai Overall Includes: Dubai Beach, Dubai City and Dubai Apartment Hotels The Middle East Hotel Benchmark Survey was developed and is maintained by Ernst & Young s Dubai office under the direction of Yousef Wahbah who leads the Transaction Real Estate Advisory Services Group across the MENA region. It is intended for informational use only. The reader should consult his or her professional investment advisor, attorney, or accountant before making any decision or taking any action based upon the information presented in this document. Benchmark data is provided by individual hotel companies. While we believe the data collected is reliable, Ernst & Young has not performed an audit or review of the information gathered and does not express an opinion or any form of assurance on the accuracy of such information. This report is also proprietary of Ernst & Young and no part of this report, in whole or in part, may be reproduced or transmitted without written consent of Ernst & Young. All requests to reproduce this information must be addressed to yousef.wahbah@ae.ey.com. For information regarding the Hotel Benchmark, contact the Dubai office of Ernst & Young at +971 4 332 4.
Various markets monthly performance (US Dollar) Monthly Performance: 12/211 Currency: US$ Occupancy Average Room Rate Rooms Yield Currency 211 % 21 % Change in % Points 211 21 Change 211 21 Change Bahrain Manama US$ 28. 54. 26. 214 251 14.6% 61 137 55.6% Egypt Cairo City US$ 25. 71. 46. 112 128 12.7% 29 92 68.7% Cairo Overall US$ 28.5 71.6 43.2 117 128 8.8% 33 92 63.7% Hurghada US$ 55. 83. 28. 34 49 3.7% 19 41 53.7% Sharm El Shaikh US$ 56. 73. 17. 54 72 25.5% 3 53 42.% Jordan Amman US$ 56. 49. 7. 142 145 1.8% 81 71 13.2% Kuwait Kuwait US$. 54. 4. 274 284 3.4% 139 153 9.4% Lebanon Beirut US$ 64. 65. 1. 23 242 5.1% 149 159 6.3% Oman Muscat US$ 8. 79. 1. 231 253 8.6% 187 22 7.4% Qatar Doha US$ 69. 71. 2. 354 277 28.1% 245 197 24.4% Saudi Arabia Jeddah US$ 68. 7. 2. 214 27 3.5% 146 145 1.1% Madina US$ 51. 45. 6. 142 128 1.7% 74 58 26.8% Makkah US$ 57. 44. 13. 28 185 12.7% 121 82 47.8% Riyadh US$ 57. 54. 3. 233 232.7% 134 126 6.1% United Arab Emirates Abu Dhabi US$ 78. 8. 2. 25 248 17.2% 16 198 19.1% Al Ain US$ 6. 65. 5. 184 162 13.6% 111 15 5.3% Dubai Apartments US$ 92. 82. 1. 121 121.2% 111 11.2% Dubai Beach US$ 81. 84. 3. 368 345 6.6% 3 291 3.% Dubai City US$ 83. 8. 3. 198 182 8.8% 164 146 12.2% Dubai Overall US$ 83. 81.9 1. 254 235 8.1% 211 193 9.4% Notes Figures may not add up due to rounding. Cairo Overall includes: Cairo City and Cairo Pyramid Hotels. Dubai Overall Includes: Dubai Beach, Dubai City and Dubai Apartment Hotels The Middle East Hotel Benchmark Survey was developed and is maintained by Ernst & Young s Dubai office under the direction of Yousef Wahbah who leads the Transaction Real Estate Advisory Services Group across the MENA region. It is intended for informational use only. The reader should consult his or her professional investment advisor, attorney, or accountant before making any decision or taking any action based upon the information presented in this document. Benchmark data is provided by individual hotel companies. While we believe the data collected is reliable, Ernst & Young has not performed an audit or review of the information gathered and does not express an opinion or any form of assurance on the accuracy of such information. This report is also proprietary of Ernst & Young and no part of this report, in whole or in part, may be reproduced or transmitted without written consent of Ernst & Young. All requests to reproduce this information must be addressed to yousef.wahbah@ae.ey.com. For information regarding the Hotel Benchmark, contact the Dubai office of Ernst & Young at +971 4 332 4.
Various markets Year to Date performance (Local Currency) Year to Date Performance: 1/211 12/211 Currency: Local Currency 211 % 21 % Occupancy Average Room Rate Rooms Yield Change in % Points 211 21 Change 211 21 Change Bahrain Manama BHD 32. 62. 3. 84 96 11.8% 27 59 53.8% Egypt Cairo City EGP 32. 71. 39. 692 671 3.2% 226 482 53.2% Cairo Pyramids EGP 53. 72. 19. 759 699 8.6% 41 8 19.3% Cairo Overall EGP 35. 71. 36. 75 674 4.5% 249 485 48.6% Hurghada EGP 62. 85. 23. 213 263 19.1% 133 226 4.9% Sharm El Shaikh EGP 56. 84. 28. 289 366 21.1% 162 311 48.% Jordan Amman JOD 55. 63. 8. 11 13 1.9% 57 65 13.6% Kuwait Kuwait KWD 52. 53. 1. 82 78 5.% 43 42 2.6% Lebanon Beirut LBP 57. 68. 11. 334,57 386,697 13.6% 191,472 264,39 27.5% Oman Muscat OMR 65. 66. 1. 82 8 1.8% 53 54.4% Qatar Doha QAR 63. 62. 1. 986 1,16 2.9% 623 638 2.5% Saudi Arabia Jeddah SAR 71. 72. 1. 88 794 1.8% 58 577.5% Madina SAR 65. 63. 2. 76 63 12.% 46 41 14.7% Makkah SAR 73. 68. 5. 1,61 1,1 5.1% 776 692 12.1% Riyadh SAR 58. 55. 3. 87 871.% 5 483 4.5% United Arab Emirates Abu Dhabi AED 75. 73. 2. 754 827 8.8% 57 61 6.6% Al Ain AED 64. 72. 8. 588 584.6% 379 425 1.8% Dubai Apartments AED 83. 79. 4. 421 427 1.5% 352 34 3.4% Dubai Beach AED 8. 79. 1. 1,158 1,89 6.4% 936 867 8.% Dubai City AED 77. 72. 5. 643 64.4% 498 464 7.3% Dubai Overall AED 78. 75. 3. 811 787 3.1% 64 592 8.1% Notes Figures may not add up due to rounding. Cairo Overall includes: Cairo City and Cairo Pyramid Hotels. Dubai Overall Includes: Dubai Beach, Dubai City and Dubai Apartment Hotels The Middle East Hotel Benchmark Survey was developed and is maintained by Ernst & Young s Dubai office under the direction of Yousef Wahbah who leads the Transaction Real Estate Advisory Services Group across the MENA region. It is intended for informational use only. The reader should consult his or her professional investment advisor, attorney, or accountant before making any decision or taking any action based upon the information presented in this document. Benchmark data is provided by individual hotel companies. While we believe the data collected is reliable, Ernst & Young has not performed an audit or review of the information gathered and does not express an opinion or any form of assurance on the accuracy of such information. This report is also proprietary of Ernst & Young and no part of this report, in whole or in part, may be reproduced or transmitted without written consent of Ernst & Young. All requests to reproduce this information must be addressed to yousef.wahbah@ae.ey.com. For information regarding the Hotel Benchmark, contact the Dubai office of Ernst & Young at +971 4 332 4.
Various markets Year to Date performance (US Dollar) Year to Date Performance: 1/211 12/211 Currency: US$ Currency 211 % 21 % Occupancy Average Room Rate Rooms Yield Change in % Points 211 21 Change 211 21 Change Bahrain Manama US$ 32. 62. 3. 224 254 11.8% 73 158 53.8% Egypt Cairo City US$ 32. 71. 39. 12 116 3.2% 39 83 53.2% Cairo Pyramids US$ 53. 72. 19. 132 121 8.6% 71 88 19.3% Cairo Overall US$ 35. 71. 36. 122 117 4.5% 43 84 48.6% Hurghada US$ 62. 85. 23. 37 46 19.1% 23 39 4.9% Sharm El Shaikh US$ 56. 84. 28. 63 21.1% 28 54 48.% Jordan Amman US$ 55. 63. 8. 143 146 1.9% 8 93 13.6% Kuwait Kuwait US$ 52. 53. 1. 28 266 5.% 147 144 2.6% Lebanon Beirut US$ 57. 68. 11. 22 255 13.6% 126 174 27.5% Oman Muscat US$ 65. 66. 1. 212 28 1.8% 139 139.4% Qatar Doha US$ 63. 62. 1. 271 279 2.9% 171 176 2.5% Saudi Arabia Jeddah US$ 71. 72. 1. 216 212 1.8% 155 154.5% Madina US$ 65. 63. 2. 188 168 12.% 123 17 14.7% Makkah US$ 73. 68. 5. 283 269 5.1% 27 184 12.1% Riyadh US$ 58. 55. 3. 232 232.% 135 129 4.5% United Arab Emirates Abu Dhabi US$ 75. 73. 2. 25 225 8.8% 155 166 6.6% Al Ain US$ 64. 72. 8. 16 159.6% 13 116 1.8% Dubai Apartments US$ 83. 79. 4. 115 116 1.5% 96 93 3.4% Dubai Beach US$ 8. 79. 1. 315 297 6.4% 255 236 8.% Dubai City US$ 77. 72. 5. 175 174.4% 136 126 7.3% Dubai Overall US$ 78. 75. 3. 221 214 3.1% 174 161 8.1% Notes Figures may not add up due to rounding. Cairo Overall includes: Cairo City and Cairo Pyramid Hotels. Dubai Overall Includes: Dubai Beach, Dubai City and Dubai Apartment Hotels The Middle East Hotel Benchmark Survey was developed and is maintained by Ernst & Young s Dubai office under the direction of Yousef Wahbah who leads the Transaction Real Estate Advisory Services Group across the MENA region. It is intended for informational use only. The reader should consult his or her professional investment advisor, attorney, or accountant before making any decision or taking any action based upon the information presented in this document. Benchmark data is provided by individual hotel companies. While we believe the data collected is reliable, Ernst & Young has not performed an audit or review of the information gathered and does not express an opinion or any form of assurance on the accuracy of such information. This report is also proprietary of Ernst & Young and no part of this report, in whole or in part, may be reproduced or transmitted without written consent of Ernst & Young. All requests to reproduce this information must be addressed to yousef.wahbah@ae.ey.com. For information regarding the Hotel Benchmark, contact the Dubai office of Ernst & Young at +971 4 332 4.
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