Benchmark. Middle East Hotel Benchmark Survey Report October 2011

Transcription

1 Benchmark Middle East Hotel Benchmark Survey Report ober 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.

2 Introduction We hope you enjoy the ober 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.

3 kets with the largest variance on a per month basis % Occupancy Muscat Hotels Occupancy % ober 21 ober Occupancy % Average Room Rate Madina Hotels (US$) Average Room Rate ober 21 ober Average Room Rate Rev PAR in Makkah Hotels (US$) Room Yield ober 21 ober Room Yield

4 Dubai overall monthly performance % Occupancy Dubai - Overall Hotels Occupancy % ober 21 ober Occupancy % Average Room Rate Dubai - Overall Hotels (US$) Average Room Rate ober 21 ober Average Room Rate Rev PAR in Dubai - Overall Hotels (US$) Room Yield ober 21 ober Room Yield

5 Various markets monthly performance (Local Currency) Monthly Performance: 1/211 Currency: Local Currency 211 % 21 % Occupancy Average Room Rate Rooms Yield Change in % Points Change Change Bahrain Manama BHD % % Egypt Cairo City EGP % % Cairo Overall EGP % % Hurghada EGP % % Sharm El Shaikh EGP % % Jordan Amman JOD % % Kuwait Kuwait KWD % % Lebanon Beirut LBP , , % 23, , % Oman Muscat OMR % % Qatar Doha QAR ,4-7.5% % Saudi Arabia Jeddah SAR % % Madina SAR , % % Makkah SAR , % % Riyadh SAR % % United Arab Emirates Abu Dhabi AED % % Al Ain AED % % Dubai Apartments AED % % Dubai Beach AED ,426 1, % 1,152 1, % Dubai City AED % % Dubai Overall AED % % 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

6 Various markets monthly performance (US Dollar) Monthly Performance: 1/211 Currency: $ Currency 211 % 21 % Occupancy Average Room Rate Rooms Yield Change in % Points Change Change Bahrain Manama US $ % % Egypt Cairo City US $ % % Cairo Overall US $ % % Hurghada US $ % % Sharm El Shaikh US $ % % Jordan Amman US $ % % Kuwait Kuwait US $ % % Lebanon Beirut US $ % % Oman Muscat US $ % % Qatar Doha US $ % % Saudi Arabia Jeddah US $ % % Madina US $ % % Makkah US $ % % Riyadh US $ % % United Arab Emirates Abu Dhabi US $ % % Al Ain US $ % % Dubai Apartments US $ % % Dubai Beach US $ % % Dubai City US $ % % Dubai Overall US $ % % 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

7 Various markets Year-to-Date performance (Local Currency) Year-to-Date Performance: 1/211 1/211 Currency: Local Currency 211 % 21 % Occupancy Average Room Rate Rooms Yield Change in % Points Change Change Bahrain Manama BHD % % Egypt Cairo City EGP % % Cairo Pyramids EGP % % Cairo Overall EGP % % Hurghada EGP % % Sharm El Shaikh EGP % % Jordan Amman JOD % % Kuwait Kuwait KWD % % Lebanon Beirut LBP , , % 187, , % Oman Muscat OMR % % Qatar Doha QAR ,17-6.4% % Saudi Arabia Jeddah SAR % % Madina SAR % % Makkah SAR ,84 1,3 5.2% % Riyadh SAR % % United Arab Emirates Abu Dhabi AED % % Al Ain AED % % Dubai Apartments AED % % Dubai Beach AED ,137 1,7 6.3% % Dubai City AED % % Dubai Overall AED % % 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

8 Various markets Year-to-Date performance (US Dollar) Year-to-Date Performance: 1/211 1/211 Currency: $ Currency 211 % 21 % Occupancy Average Room Rate Rooms Yield Change in % Points Change Change Bahrain Manama US $ % % Egypt Cairo City US $ % % Cairo Pyramids US $ % % Cairo - Overall US $ % % Hurghada US $ % % Sharm El Shaikh US $ % % Jordan Amman US $ % % Kuwait Kuwait US $ % % Lebanon Beirut US $ % % Oman Muscat US $ % % Qatar Doha US $ % % Saudi Arabia Jeddah US $ % % Madina US $ % % Makkah US $ % % Riyadh US $ % % United Arab Emirates Abu Dhabi US $ % % Al Ain US $ % % Dubai Apartments US $ % % Dubai Beach US $ % % Dubai City US $ % % Dubai Overall US $ % % 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

9 Ernst & Young Assurance Tax Transactions Advisory About Ernst & Young Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 152, people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential. Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit The MENA practice of Ernst & Young has been operating in the region since For over 85 years, we have evolved to meet the legal and commercial developments of the region. Across MENA, we have over 4,2 people united across 2 offices and 15 Arab countries, sharing the same values and an unwavering commitment to quality. For more information, please visit Ernst & Young. All rights reserved.