Middle East Hotel Benchmark Survey August 21
Introduction Introduction Ernst & Young We hope you enjoy the August 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 % August 29 - August 21 9 8 7 85 85 91 93 73 8 88 92 9 86 76 84 83 Occupancy % 6 5 4 3 2 1 Makkah Hotels (US$) August 29 - August 21 7 6 572 5 53 4 3 2 345 432 148 226 18 211 18 192 157 162 217 Rev PAR in Makkah Hotels (US$) Room Yield August 29 - August 21 5 45 465 4 35 349 Room Yield 3 25 2 15 155 237 176 156 168 169 17 13 113 115 5 33 Ernst & Young 3
% Occupancy Dubai - Overall Hotels Occupancy % August 29 - August 21 9 8 7 71.4 76 85.7 75.7 77.1 89.1 82.5 79 77.4 68.6 68.5 Occupancy % 6 5 4 6.8 56.1 3 2 1 Dubai - Overall Hotels (US$) August 29 - August 21 35 3 289 25 2 15 173 189 257 237 246 248 247 252 186 154 15 144 5 Rev PAR in Dubai - Overall Hotels (US$) Room Yield August 29 - August 21 3 25 247 22 Room Yield 2 15 124 115 195 179 19 23 199 144 15 13 81 5 4 Ernst & Young
Monthly Performance: 8/21 Currency: Local Occupancy Rooms Yield Bahrain Currency 21 29 Change in 21 29 Change 21 29 Change % % % Points Manama BHD 42. 43. -1. 8 78 2.4% 34 34.2% Egypt Cairo - City EGP 48. 63. -15. 64 667-4.1% 313 421-25.6% Cairo -Overall EGP 49. 62.3-13.3 648 667-2.9% 317 415-23.6% Hurghada EGP 81. 84. -3. 285 263 8.1% 231 222 3.9% Sharm El Shaikh EGP 83. 85. -2. 392 367 6.8% 325 313 3.8% Jordan Amman JOD 49. 58. -9. 99 12-3.% 49 6-18.5% Kuwait Kuwait KWD 38. 41. -3. 7 69 1.% 27 28-5.7% Lebanon Beirut LBP 43. 75. -32. 416,51 483,12-13.8% 182,75 366,412-5.3% Oman Muscat OMR 45. 45.. 7 8-12.7% 31 36-13.8% Qatar Doha QAR 36. 41. -5. 846 897-5.6% 38 372-17.2% Saudi Arabia Jeddah SAR 73. 79. -6. 85 753 12.9% 629 62 4.4% Madina SAR 75. 47. 28. 1,145 651 75.9% 87 39 181.8% Makkah SAR 81. 44. 37. 2,145 1,295 65.6% 1,742 582 199.1% Riyadh SAR 37. 4. -3. 739 677 9.1% 276 276.2% United Arab Emirates Abu Dhabi AED 61. 63. -2. 568 75-24.3% 348 476-26.9% Al Ain AED 56. 66. -1. 53 51.4% 282 335-15.9% Dubai - Apartments AED 6. 79. -19. 397 444-1.7% 239 355-32.6% Dubai - Beach AED 69. 86. -17. 62 795-22.% 43 688-37.5% Dubai - City AED 48. 62. -14. 474 532-1.9% 232 33-29.7% Dubai - Overall AED 56.1 71.4-15.3 528 636-16.9% 296 454-34.7% 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: 8/21 Currency: US $ Occupancy Rooms Yield Bahrain Currency 21 29 Change in 21 29 Change 21 29 Change % % % Points Manama US $ 42. 43. -1. 213 28 2.4% 92 91.2% Egypt Cairo - City US $ 48. 63. -15. 111 116-4.1% 54 73-25.6% Cairo -Overall US $ 49. 62.3-13.3 112 116-2.9% 55 72-23.6% Hurghada US $ 81. 84. -3. 49 46 8.1% 4 39 3.9% Sharm El Shaikh US $ 83. 85. -2. 68 64 6.8% 56 54 3.8% Jordan Amman US $ 49. 58. -9. 14 144-3.% 69 85-18.5% Kuwait Kuwait US $ 38. 41. -3. 239 237 1.% 92 97-5.7% Lebanon Beirut US $ 43. 75. -32. 275 319-13.8% 12 242-5.3% Oman Muscat US $ 45. 45.. 181 28-12.7% 82 95-13.8% Qatar Doha US $ 36. 41. -5. 233 247-5.6% 85 12-17.2% Saudi Arabia Jeddah US $ 73. 79. -6. 227 21 12.9% 168 161 4.4% Madina US $ 75. 47. 28. 35 174 75.9% 232 82 181.8% Makkah US $ 81. 44. 37. 572 345 65.6% 465 155 199.1% Riyadh US $ 37. 4. -3. 197 181 9.1% 74 74.2% United Arab Emirates Abu Dhabi US $ 61. 63. -2. 155 24-24.3% 95 13-26.9% Al Ain US $ 56. 66. -1. 137 136.4% 77 91-15.9% Dubai - Apartments US $ 6. 79. -19. 18 121-1.7% 65 97-32.6% Dubai - Beach US $ 69. 86. -17. 169 217-22.% 117 187-37.5% Dubai - City US $ 48. 62. -14. 129 145-1.9% 63 9-29.7% Dubai - Overall US $ 56.1 71.4-15.3 144 173-16.9% 81 124-34.7% 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: 1/21-8/21 Currency: Local Occupancy Rooms Yield Bahrain Currency 21 29 % % Change in % Points 21 29 Change 21 29 Change Manama BHD 59. 65. -6. 96 97-1.1% 57 64-11.% Egypt Cairo - City EGP 71. 69. 2. 662 656.9% 472 455 3.8% Cairo -Overall EGP 71. 69. 2. 665 659 1.% 476 455 4.5% Hurghada EGP 84. 77. 7. 25 24 4.3% 212 185 14.4% Sharm El Shaikh EGP 85. 78. 7. 353 321 1.% 31 253 19.1% Jordan Amman JOD 63. 6. 3. 13 99 3.9% 66 6 8.9% Kuwait Kuwait KWD 53. 55. -2. 75 78-3.5% 4 44-7.8% Lebanon Beirut LBP 7. 72. -2. 395,818 369,195 7.2% 277,641 268,26 3.5% Oman Muscat OMR 67. 63. 4. 85 11-15.5% 58 65-1.4% Qatar Doha QAR 62. 65. -3. 1,25 1,184-13.4% 641 777-17.4% Saudi Arabia Jeddah SAR 73. 73.. 795 747 6.4% 58 55 5.5% Madina SAR 68. 6. 8. 589 51 17.6% 44 34 32.9% Makkah SAR 77. 64. 13. 893 747 19.6% 688 478 43.9% Riyadh SAR 55. 62. -7. 871 768 13.4% 485 476 1.9% United Arab Emirates Abu Dhabi AED 72. 75. -3. 824 1,151-28.4% 596 874-31.8% Al Ain AED 68. 69. -1. 587 581 1.1% 41 43 -.6% Dubai - Beach AED 8. 84. -4. 1,45 1,8-3.2% 838 99-7.8% Dubai - City AED 72. 69. 3. 66 779-15.2% 478 54-11.5% Dubai - Overall AED 74. 74.. 765 865-11.5% 574 642-1.7% 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 7
Year-to-Date Performance: 1/21-8/21 Currency: US $ Occupancy Rooms Yield Bahrain Currency 21 29 % % Change in % Points 21 29 Change 21 29 Change Manama US $ 59. 65. -6. 254 257-1.1% 15 169-11.% Egypt Cairo - City US $ 71. 69. 2. 115 114.9% 82 79 3.8% Cairo -Overall US $ 71. 69. 2. 115 114 1.% 82 79 4.5% Hurghada US $ 84. 77. 7. 43 42 4.3% 37 32 14.4% Sharm El Shaikh US $ 85. 78. 7. 61 56 1.% 52 44 19.1% Jordan Amman US $ 63. 6. 3. 147 141 3.9% 93 86 8.9% Kuwait Kuwait US $ 53. 55. -2. 258 267-3.5% 138 149-7.8% Lebanon Beirut US $ 7. 72. -2. 261 244 7.2% 183 177 3.5% Oman Muscat US $ 67. 63. 4. 222 263-15.5% 15 168-1.4% Qatar Doha US $ 62. 65. -3. 282 325-13.4% 176 214-17.4% Saudi Arabia Jeddah US $ 73. 73.. 212 199 6.4% 155 147 5.5% Madina US $ 68. 6. 8. 157 134 17.6% 18 81 32.9% Makkah US $ 77. 64. 13. 238 199 19.6% 183 127 43.9% Riyadh US $ 55. 62. -7. 232 25 13.4% 129 127 1.9% United Arab Emirates Abu Dhabi US $ 72. 75. -3. 224 314-28.4% 162 238-31.8% Al Ain US $ 68. 69. -1. 16 158 1.1% 19 11 -.6% Dubai - Beach US $ 8. 84. -4. 284 294-3.2% 228 248-7.8% Dubai - City US $ 72. 69. 3. 18 212-15.2% 13 147-11.5% Dubai - Overall US $ 74. 74.. 28 236-11.5% 156 175-1.7% 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. 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.