Middle East hotel occupancy reaches 61 percent in 2002
Hotel occupancy in the Middle East reached 61 percent in 2002, constituting a 5.2 percent rise compared to the occupancy rate in 2001, which was recorded at 58 percent. The region’s average room rate was $82 in 2002, a 4.6 percent decrease in price compared to $86 in 2001, reported HotelBenchmark.
In order alleviate some fears that consumers may have had about travelling to the Middle East, hotels in that region discounted their average room rates by 4.6 percent . This helped boost demand by 5.2 percent over 2001 levels.
Hotel occupancy in the region was down by four percentage points in 2001, largely due to the global economic slowdown, which was exacerbated by the events of September 11. Similarly, average rates fell by approximately five percent. This was caused by the decline in demand, combined with the increased hotel supply in the region, and more aggressive pricing, in an attempt to stimulate demand. — (menareport.com)
© 2003 Mena Report (www.menareport.com)