Arab Today, arab today dubai and abu dhabi hotels performed relatively well
Last Updated : GMT 07:26:29
Arab Today, arab today
Arab Today, arab today

Forecast uses a number of economic variables

Dubai and Abu Dhabi hotels performed relatively well

Arab Today, arab today

Arab Today, arab today Dubai and Abu Dhabi hotels performed relatively well

Dubai and Abu Dhabi hotels
Abu Dhabi - Arab Today

PwC has published its second hotel forecast for the Middle East report titled "Accommodating growth," focusing on six major cities in the region: Abu Dhabi, Doha, Dubai, Jeddah, Muscat, and Riyadh. The forecast uses a number of economic variables to forecast hotel occupancy, Average Daily Rate (ADR) and Revenue per Available Room (RevPAR) in each of the six cities and the region in 2015 and 2016.

Despite a number of challenges faced by the region in 2014, such as the fall in oil prices and devaluation of the Euro against the dollar, Dubai and Abu Dhabi hotels performed relatively well over the course of last year. In 2014 occupancy was the principle driver for Abu Dhabi's growth (9%), while Dubai saw occupancy fall (1.8%) but still ranks higher than Abu Dhabi in terms of occupancy levels, registering 78.5% compared to 73.5% for Abu Dhabi.

However, no-one predicted the sudden and dramatic fall in oil prices in the last quarter of 2014, which PwC believes significantly impacted the number of visitors, and especially the high spending Russian visitors. The 25% devaluation of the Euro against the dollar has also led to a drop in visitors from Europe, and the UAE has now become a much more expensive destination for those residing in the Eurozone.

"The issue now is whether the significant decline in visitor numbers during the last quarter will reverse, and if so, how quickly," says Philip Shepherd Partner - PwC Middle East Hospitality and Leisure Leader. "This is especially important given the enormous supply set to come on-stream in the next couple of years," added Shepherd.

Looking forward to 2015-16, PwC believes Abu Dhabi will continue performing well, as the authorities are actively promoting the capital of the UAE as a high-quality but lower-cost alternative to Dubai. The city's hotels are offering attractive deals on rooms, and airlines are adding new routes from Saudi Arabia, India, Switzerland, the US, and Australia.

Looking at RevPar (revenue per available room), again, Abu Dhabi is expected to be one of the cities best placed for growth, with forecast RevPAR growth of 6.7%, likely outperformed only by Jeddah with an expected 7.3% growth. Dubai is likely to see a decline in RevPar (-2.4%) in 2015 but an increase again in 2016 0f 6.6%.
Source: WAM

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today dubai and abu dhabi hotels performed relatively well Arab Today, arab today dubai and abu dhabi hotels performed relatively well

 



Arab Today, arab today
Arab Today, arab today Jordan airline suggests flyers 'talk'

GMT 11:59 2017 Friday ,24 March

Jordan airline suggests flyers 'talk'
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Dozens dead in US-led Syria strikes

GMT 08:35 2017 Thursday ,23 March

Dozens dead in US-led Syria strikes
Arab Today, arab today Former head of Egypt’s syndicate submits appeal

GMT 20:11 2017 Saturday ,25 March

Former head of Egypt’s syndicate submits appeal

GMT 21:20 2017 Thursday ,23 March

CBI sells more than $164m

GMT 19:19 2017 Wednesday ,22 March

Saudi Labor minister amends "Netaqat" program

GMT 16:52 2017 Wednesday ,22 March

German's parliamentary delegation visits Tunisia
View News in Arabic - Business: أخبار الأعمال
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today MP submits a petition to dismiss university head

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Actress Mervat Amin reveals her role in new series
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 06:04 2017 Thursday ,23 March

Haifa Wahby bets on her new drama show

GMT 22:00 2017 Thursday ,23 March

Number of unwedded girls amounts to 2.5m

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 15:06 2017 Saturday ,25 March

Dialysis Supplies Dwindle for Syrians

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday