Beirut to stay key touris­tic city in MENA re­gion dur­ing Au­tumn: Col­liers In­ter­na­tional

The Daily News Egypt - - Business -

A fore­cast report con­ducted by Col­liers In­ter­na­tional for the ho­tels of the Mid­dle East and North-Africa (MENA) re­gion for the three-month pe­riod from Septem­ber to Novem­ber 2017 showed that Beirut and Aqaba are the key touris­tic cities in the re­gion.

In Beirut, an in­crease in rev­enue per avail­able room (RevPAR) is ex­pected to take place and em­anate from both the av­er­age daily rate (ADR) and the oc­cu­pancy rates, ac­cord­ing to Col­liers In­ter­na­tional’s report.

The report ex­pected the city to make use of bet­ter se­cu­rity con­di­tions and the lift­ing of travel bans.

As for the Jor­da­nian Aqaba, the report showed it con­tin­ues to ben­e­fit from the do­mes­tic de­mand and the that from vis­i­tors of Scan­di­na­vian coun­tries, as well as cap­tur­ing tourists from both Egypt and Tur­key.

Other MENA cities are steady in terms of ho­tel oc­cu­pancy, such as Sharjah, where the ho­tel mar­ket in the city is go­ing through a re­cov­ery phase with mod­est growth in its oc­cu­pancy rate.

Ras Al Khaimah is ex­pected to ben­e­fit from the strong lo­cal de­mand from in­ter­na­tional leisure de­mand from Ger­many, UK, Rus­sia, and India and will keep the three­month RevPAR growth in line with last year.

In Ri­aydh, both oc­cu­pancy and the ADR lev­els con­tinue to de­cline be­cause of a drop in de­mand by the cor­po­rate and leisure seg­ments.

“A com­bi­na­tion of new supply and lower de­mand has re­sulted in a dip in rev­enue per avail­able room, which is ex­pected to carry into the three next months,” the report said.

Ac­cord­ing to the report, Sharm ElSheikh con­tin­ues to feel the reper­cus­sions of travel alerts from a num­ber of Euro­pean feeder mar­kets.

Col­liers In­ter­na­tional is a global com­pany in com­mer­cial and real es­tate ser­vices, with over 15,000 em­ploy­ees op­er­at­ing in 68 coun­tries.

In Beirut, an in­crease in RevPAR is ex­pected to take place and em­anate from both the av­er­age daily rate and the oc­cu­pancy rates

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