Middle East Hotel Benchmark Survey October 21
Introduction Introduction Ernst & Young We hope you enjoy the October 21 report of the Ernst & Young Middle East Hotel Benchmark Survey. 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 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 144, people in 14 countries. Sincerely Yousef Wahbah Principal Transaction Real Estate Advisory Services Group Leader - MENA Paul Arnold Principal Transaction Real Estate Advisory Services Group Leader - MENA 2
Ernst & Young % Occupancy Sharm El Shaikh Hotels Occupancy % October 29 - October 21 1 9 8 7 92 93 73 8 88 92 9 86 76 84 83 87 92 Occupancy % 6 5 4 3 2 1 Makkah Hotels (US$) October 29 - October 21 7 6 572 646 5 53 4 3 2 148 226 18 211 18 192 157 162 217 255 1 Rev PAR in Madina Hotels (US$) Room Yield October 29 - October 21 25 232 2 192 176 Room Yield 15 1 5 35 98 61 95 11 114 77 75 96 81 Ernst & Young 3
% Occupancy Dubai - Overall Hotels Occupancy % October 29 - October 21 1 Occupancy % 9 8 7 6 5 4 79.6 85.7 75.7 77.1 89.1 82.5 79 77.4 68.6 68.5 56.1 65.3 78 3 2 1 Dubai - Overall Hotels (US$) October 29 - October 21 35 3 289 25 2 15 1 264 237 246 248 247 252 186 154 15 144 177 25 5 Rev PAR in Dubai - Overall Hotels (US$) Room Yield October 29 - October 21 3 25 247 Room Yield 2 15 21 179 19 22 23 199 144 195 1 15 13 81 115 5 4 Ernst & Young
Monthly Performance: 1/21 Currency: Local Occupancy Rooms Yield Bahrain Currency 21 29 Change in 21 29 Change 21 29 Change % % % Points Manama BHD 71. 73. -2. 98 95 3.6% 7 7.% Egypt Cairo - City EGP 81. 86. -5. 698 694.5% 569 63-5.7% Cairo -Overall EGP 81.4 86.9-5.5 699 77-1.1% 569 614-7.3% Hurghada EGP 93. 92. 1. 361 321 12.6% 339 298 13.8% Sharm El Shaikh EGP 92. 92.. 447 399 11.9% 412 368 12.% Jordan Amman JOD 81. 78. 3. 15 11 3.8% 86 79 8.5% Kuwait Kuwait KWD 57. 53. 4. 81 76 7.1% 47 41 15.4% Lebanon Beirut LBP 71. 85. -14. 322,723 343,36-6.% 229,338 293,596-21.9% Oman Muscat OMR 75. 69. 6. 9 9 -.3% 68 62 9.5% Qatar Doha QAR 71. 63. 8. 1,4 1,149-9.5% 744 728 2.2% Saudi Arabia Jeddah SAR 73. 78. -5. 737 744 -.9% 542 582-6.9% Madina SAR 48. 31. 17. 625 426 46.7% 35 133 129.3% Makkah SAR 31. 22. 9. 954 555 71.9% 33 123 146.% Riyadh SAR 68. 7. -2. 95 84 7.7% 624 594 5.1% United Arab Emirates Abu Dhabi AED 83. 84. -1. 917 1,278-28.3% 763 1,84-29.6% Al Ain AED 78. 77. 1. 538 65-11.1% 424 47-9.8% Dubai - Apartments AED 82. 83. -1. 4 464-13.8% 33 389-15.3% Dubai - Beach AED 8. 83. -3. 1,445 1,419 1.8% 1,169 1,189-1.7% Dubai - City AED 76. 77. -1. 676 76-11.1% 515 586-12.2% Dubai - Overall AED 78. 79.6-1.6 919 968-5.1% 717 771-7.% 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 was developed and is maintained by Ernst & Young's Dubai office under the direction of Paul Arnold and Yousef Wahbah who lead 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 paul.arnold@ae.ey.com, yousef.wahbah@ae.ey.com. For information regarding the Hotel Benchmark, contact the Dubai office of Ernst & Young at +971 4 332 4. Ernst & Young 5
Monthly Performance: 1/21 Currency: US $ Occupancy Rooms Yield Bahrain Currency 21 29 Change in 21 29 Change 21 29 Change % % % Points Manama US $ 71. 73. -2. 261 252 3.6% 186 186.% Egypt Cairo - City US $ 81. 86. -5. 121 12.5% 99 15-5.7% Cairo -Overall US $ 81.4 86.9-5.5 121 123-1.1% 99 16-7.3% Hurghada US $ 93. 92. 1. 63 56 12.6% 59 52 13.8% Sharm El Shaikh US $ 92. 92.. 77 69 11.9% 71 64 12.% Jordan Amman US $ 81. 78. 3. 149 143 3.8% 121 112 8.5% Kuwait Kuwait US $ 57. 53. 4. 279 261 7.1% 161 14 15.4% Lebanon Beirut US $ 71. 85. -14. 213 227-6.% 151 194-21.9% Oman Muscat US $ 75. 69. 6. 233 234 -.3% 177 162 9.5% Qatar Doha US $ 71. 63. 8. 286 316-9.5% 24 2 2.2% Saudi Arabia Jeddah US $ 73. 78. -5. 197 198 -.9% 145 155-6.9% Madina US $ 48. 31. 17. 167 114 46.7% 81 35 129.3% Makkah US $ 31. 22. 9. 255 148 71.9% 81 33 146.% Riyadh US $ 68. 7. -2. 241 224 7.7% 166 158 5.1% United Arab Emirates Abu Dhabi US $ 83. 84. -1. 25 348-28.3% 28 295-29.6% Al Ain US $ 78. 77. 1. 147 165-11.1% 115 128-9.8% Dubai - Apartments US $ 82. 83. -1. 19 126-13.8% 9 16-15.3% Dubai - Beach US $ 8. 83. -3. 394 386 1.8% 318 324-1.7% Dubai - City US $ 76. 77. -1. 184 27-11.1% 14 16-12.2% Dubai - Overall US $ 78. 79.6-1.6 25 264-5.1% 195 21-7.% 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 was developed and is maintained by Ernst & Young's Dubai office under the direction of Paul Arnold and Yousef Wahbah who lead 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 paul.arnold@ae.ey.com, yousef.wahbah@ae.ey.com. For information regarding the Hotel Benchmark, contact the Dubai office of Ernst & Young at +971 4 332 4. 6 Ernst & Young
Year-to-Date Performance: 1/21-1/21 Currency: Local Occupancy Rooms Yield Bahrain Currency 21 29 % % Change in % Points 21 29 Change 21 29 Change Manama BHD 59. 64. -5. 96 96 -.4% 57 62-7.6% Egypt Cairo - City EGP 71. 7. 1. 665 655 1.4% 477 46 3.7% Cairo -Overall EGP 71. 69. 2. 669 661 1.2% 481 462 4.1% Hurghada EGP 86. 79. 7. 261 249 5.1% 225 199 13.3% Sharm El Shaikh EGP 86. 81. 5. 361 327 1.7% 311 265 17.5% Jordan Amman JOD 65. 6. 5. 13 1 3.5% 67 6 11.% Kuwait Kuwait KWD 53. 53.. 76 77-2.1% 4 42-2.9% Lebanon Beirut LBP 68. 72. -4. 388,645 37,243 5.% 266,335 27,248-1.4% Oman Muscat OMR 66. 62. 4. 85 99-14.5% 57 62-8.5% Qatar Doha QAR 62. 62.. 1,17 1,164-12.6% 631 731-13.7% Saudi Arabia Jeddah SAR 72. 74. -2. 795 759 4.7% 579 566 2.2% Madina SAR 65. 56. 9. 64 561 14.2% 419 316 32.6% Makkah SAR 7. 58. 12. 1,3 9 14.5% 731 529 38.2% Riyadh SAR 55. 59. -4. 871 773 12.7% 485 463 4.5% United Arab Emirates Abu Dhabi AED 73. 76. -3. 818 1,133-27.9% 598 863-3.7% Al Ain AED 69. 7. -1. 574 576 -.4% 399 49-2.6% Dubai - Beach AED 79. 83. -4. 1,7 1,87-1.6% 846 95-6.5% Dubai - City AED 71. 68. 3. 654 763-14.2% 471 526-1.5% Dubai - Overall AED 74. 73. 1. 771 859-1.2% 573 633-9.5% 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 was developed and is maintained by Ernst & Young's Dubai office under the direction of Paul Arnold and Yousef Wahbah who lead 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 paul.arnold@ae.ey.com, yousef.wahbah@ae.ey.com. For information regarding the Hotel Benchmark, contact the Dubai office of Ernst & Young at +971 4 332 4. Ernst & Young 7
Year-to-Date Performance: 1/21-1/21 Currency: US $ Occupancy Rooms Yield Bahrain Currency 21 29 % % Change in % Points 21 29 Change 21 29 Change Manama US $ 59. 64. -5. 254 255 -.4% 151 164-7.6% Egypt Cairo - City US $ 71. 7. 1. 115 114 1.4% 83 8 3.7% Cairo -Overall US $ 71. 69. 2. 116 115 1.2% 83 8 4.1% Hurghada US $ 86. 79. 7. 45 43 5.1% 39 34 13.3% Sharm El Shaikh US $ 86. 81. 5. 63 57 1.7% 54 46 17.5% Jordan Amman US $ 65. 6. 5. 146 141 3.5% 95 86 11.% Kuwait Kuwait US $ 53. 53.. 259 265-2.1% 138 143-2.9% Lebanon Beirut US $ 68. 72. -4. 257 244 5.% 176 178-1.4% Oman Muscat US $ 66. 62. 4. 22 257-14.5% 147 161-8.5% Qatar Doha US $ 62. 62.. 28 32-12.6% 173 21-13.7% Saudi Arabia Jeddah US $ 72. 74. -2. 212 23 4.7% 154 151 2.2% Madina US $ 65. 56. 9. 171 15 14.2% 112 84 32.6% Makkah US $ 7. 58. 12. 275 24 14.5% 195 141 38.2% Riyadh US $ 55. 59. -4. 232 26 12.7% 129 124 4.5% United Arab Emirates Abu Dhabi US $ 73. 76. -3. 223 39-27.9% 163 235-3.7% Al Ain US $ 69. 7. -1. 156 157 -.4% 19 111-2.6% Dubai - Beach US $ 79. 83. -4. 291 296-1.6% 23 246-6.5% Dubai - City US $ 71. 68. 3. 178 28-14.2% 128 143-1.5% Dubai - Overall US $ 74. 73. 1. 21 234-1.2% 156 172-9.5% 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 was developed and is maintained by Ernst & Young's Dubai office under the direction of Paul Arnold and Yousef Wahbah who lead 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 paul.arnold@ae.ey.com, yousef.wahbah@ae.ey.com. For information regarding the Hotel Benchmark, contact the Dubai office of Ernst & Young at +971 4 332 4. 8 Ernst & Young
Assurance Tax Transactions Advisory About Ernst & Young Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 144, 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. For more information, please visit www.ey.com 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. The Middle East practice of Ernst & Young has been operating in the region since 1923. For over 85 years, we have evolved to meet the legal and commercial developments of the region. Across the Middle East, we have over 4,2 people united across 2 offices and 15 Arab countries, sharing the same values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential. For more information, please visit www.ey.com/me Ernst & Young 21. All rights reserved.