Global Arab Network | Kuwait: Hotel occupancy increases by 61 %

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Kuwait: Hotel occupancy increases by 61 %

Global Arab Network - - Mokhtar Thabet

Tuesday, 31 May 2011 01:15

Kuwait: Hotel occupancy increases by 61 %

Global Arab Network - Hotel occupancy in Kuwait increased by three points, settling at 61 percent, compared to the same period in 2010, said a report by Al-Tameer Company for Real-Estate Investment.

The report indicated that the price of one room within the first period of 2011 had jumped to 4.3 percent which was around KD 79 per night while income for rooms had increased by 9.7 percent, settling at KD 48.5 percent.

Despite the increase, the report indicated that March has witnessed a drop by one point with hotel occupancy reaching 59 percent compared to the same period in 2010.

In regards to the MENA region, the report said that the region reported mixed results across all the three metrics of the hotel industry. Hotel occupancy in the region fell 12.9 percent to 57.8 percent during March 2011. Average Daily Rate (ADR) rose 9.0 percent to USD 172.89 and Revenue per Available Room (RevPAR) dipped 5.1 percent to KD 99.98 compared to the March 2010 figures. During January-March 2011, hotel occupancy contracted 7.8 percentage points to 56.8 percent. Conversely, ADR grew 9.4 percent to USD 176.31 and RevPAR improved 0.9 percent to USD 100.17 compared to the same period last year.

The report also touched on the expected tourism numbers of this year, forecasting an estimated 36 million tourists to visit the MENA region, adding that such number was expected to reached 69 million by the year 2020 due to the advent of the FIFA World Cup to be held in Doha, Qatar. (KUNA)

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