Middle East Hotel Benchmark Survey July 21
Introduction Introduction Ernst & Young We hope you enjoy the July 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 Hurghada Hotels Occupancy % July 29 - July 21 Occupancy % 9 8 7 6 4 87 82 86 91 91 66 77 88 9 94 84 73 87 3 2 1 Abu Dhabi Hotels (US$) July 29 - July 21 4 3 3 2 2 1 226 199 211 362 327 289 31 262 267 24 24 181 161 Rev PAR in Makkah Hotels (US$) Room Yield July 29 - July 21 4 3 349 3 Room Yield 2 2 1 155 237 176 156 168 169 117 17 13 113 115 33 Ernst & Young 3
% Occupancy Dubai - Overall Hotels Occupancy % July 29 - July 21 Occupancy % 9 8 7 6 4 7.6 66.7 6.8 76 85.7 75.7 77.1 89.1 82.5 79 77.4 68.6 68.5 3 2 1 Dubai - Overall Hotels (US$) July 29 - July 21 3 3 289 2 2 1 168 152 189 257 237 246 248 247 252 186 154 1 Rev PAR in Dubai - Overall Hotels (US$) Room Yield July 29 - July 21 3 2 247 22 Room Yield 2 1 195 179 19 23 199 144 118 12 115 15 13 4 Ernst & Young
Monthly Performance: 7/21 Currency: Local Occupancy Rooms Yield Bahrain Currency 21 29 Change in 21 29 Change 21 29 Change % % % Points Manama BHD 48. 61. -13. 74 9-17.9% 36 56-35.7% Egypt Cairo - City EGP 72. 68. 4. 739 685 7.9% 535 468 14.4% Cairo -Overall EGP 72.3 67.2 5.2 737 686 7.4% 533 461 15.7% Hurghada EGP 87. 87.. 2 214 16.9% 219 187 17.1% Sharm El Shaikh EGP 84. 83. 1. 363 31 17.2% 37 259 18.4% Jordan Amman JOD 74. 64. 1. 11 -.6% 75 65 14.9% Kuwait Kuwait KWD 45. 48. -3. 68 72-4.4% 31 35-11.4% Lebanon Beirut LBP 8. 87. -7. 511,11 493,145 3.6% 49,452 433,34-5.5% Oman Muscat OMR 55. 48. 7. 81 84-3.7% 45 41 9.7% Qatar Doha QAR 45. 49. -4. 822 1,123-26.8% 374 557-32.9% Saudi Arabia Jeddah SAR 7. 75. -5. 816 765 6.7% 578 579 -.2% Madina SAR 72. 62. 1. 498 474 5.% 36 297 21.2% Makkah SAR 78. 59. 19. 812 733 1.8% 634 439 44.3% Riyadh SAR 45. 53. -8. 775 748 3.6% 352 4-12.1% United Arab Emirates Abu Dhabi AED 69. 72. -3. 591 831-28.9% 49 61-31.9% Al Ain AED 66. 65. 1. 529 533 -.8% 353 348 1.2% Dubai - Apartments AED 81. 83. -2. 44 445-9.1% 33 373-11.5% Dubai - Beach AED 75. 82. -7. 662 685-3.3% 499 563-11.4% Dubai - City AED 64. 64.. 51 593-14.1% 331 382-13.5% Dubai - Overall AED 68.5 7.6-2.1 551 616-1.6% 377 435-13.2% 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: 7/21 Currency: US $ Occupancy Rooms Yield Bahrain Currency 21 29 Change in 21 29 Change 21 29 Change % % % Points Manama US $ 48. 61. -13. 196 238-17.9% 95 148-35.7% Egypt Cairo - City US $ 72. 68. 4. 128 119 7.9% 93 81 14.4% Cairo -Overall US $ 72.3 67.2 5.2 128 119 7.4% 92 8 15.7% Hurghada US $ 87. 87.. 43 37 16.9% 38 32 17.1% Sharm El Shaikh US $ 84. 83. 1. 63 54 17.2% 53 45 18.4% Jordan Amman US $ 74. 64. 1. 142 143 -.6% 16 92 14.9% Kuwait Kuwait US $ 45. 48. -3. 234 245-4.4% 16 12-11.4% Lebanon Beirut US $ 8. 87. -7. 337 325 3.6% 27 286-5.5% Oman Muscat US $ 55. 48. 7. 21 219-3.7% 117 16 9.7% Qatar Doha US $ 45. 49. -4. 226 39-26.8% 13 153-32.9% Saudi Arabia Jeddah US $ 7. 75. -5. 218 24 6.7% 154 154 -.2% Madina US $ 72. 62. 1. 133 126 5.% 96 79 21.2% Makkah US $ 78. 59. 19. 217 195 1.8% 169 117 44.3% Riyadh US $ 45. 53. -8. 27 199 3.6% 94 17-12.1% United Arab Emirates Abu Dhabi US $ 69. 72. -3. 161 226-28.9% 111 164-31.9% Al Ain US $ 66. 65. 1. 144 145 -.8% 96 95 1.2% Dubai - Apartments US $ 81. 83. -2. 11 121-9.1% 9 12-11.5% Dubai - Beach US $ 75. 82. -7. 18 187-3.3% 136 153-11.4% Dubai - City US $ 64. 64.. 139 162-14.1% 9 14-13.5% Dubai - Overall US $ 68.5 7.6-2.1 1 168-1.6% 13 118-13.2% 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: 1/21-7/21 Currency: Local Occupancy Rooms Yield Bahrain Currency 21 29 % % Change in % Points 21 29 Change 21 29 Change Manama BHD 6. 68. -8. 97 98-1.2% 59 67-11.7% Egypt Cairo - City EGP 74. 7. 4. 664 654 1.5% 496 46 7.7% Cairo -Overall EGP 74. 7. 4. 667 658 1.4% 499 461 8.2% Hurghada EGP 85. 76. 9. 245 236 3.9% 29 18 16.3% Sharm El Shaikh EGP 85. 77. 8. 347 313 1.9% 297 244 22.% Jordan Amman JOD 65. 6. 5. 14 99 4.7% 68 6 12.9% Kuwait Kuwait KWD 55. 58. -3. 76 79-3.9% 42 46-8.% Lebanon Beirut LBP 74. 72. 2. 394,34 351,694 12.% 291,591 253,98 14.8% Oman Muscat OMR 69. 65. 4. 86 12-15.8% 6 67-1.2% Qatar Doha QAR 66. 69. -3. 1,39 1,29-14.1% 69 836-17.5% Saudi Arabia Jeddah SAR 72. 72.. 786 746 5.5% 573 543 5.6% Madina SAR 67. 62. 5. 498 485 2.7% 336 33 1.8% Makkah SAR 76. 66. 1. 698 693.8% 534 463 15.4% Riyadh SAR 58. 65. -7. 883 776 13.8% 516 6 2.% United Arab Emirates Abu Dhabi AED 73. 77. -4. 855 1,197-28.6% 632 93-32.% Al Ain AED 7. 69. 1. 597 592.9% 418 413 1.3% Dubai - Beach AED 81. 83. -2. 1,97 1,122-2.3% 898 942-4.6% Dubai - City AED 75. 7. 5. 675 83-16.% 6 563-1.% Dubai - Overall AED 77. 74. 3. 787 892-11.8% 69 665-8.5% 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: 1/21-7/21 Currency: US $ Occupancy Rooms Yield Bahrain Currency 21 29 % % Change in % Points 21 29 Change 21 29 Change Manama US $ 6. 68. -8. 258 261-1.2% 157 178-11.7% Egypt Cairo - City US $ 74. 7. 4. 115 113 1.5% 86 8 7.7% Cairo -Overall US $ 74. 7. 4. 116 114 1.4% 86 8 8.2% Hurghada US $ 85. 76. 9. 42 41 3.9% 36 31 16.3% Sharm El Shaikh US $ 85. 77. 8. 6 54 1.9% 52 42 22.% Jordan Amman US $ 65. 6. 5. 147 141 4.7% 97 86 12.9% Kuwait Kuwait US $ 55. 58. -3. 26 271-3.9% 144 157-8.% Lebanon Beirut US $ 74. 72. 2. 26 232 12.% 192 168 14.8% Oman Muscat US $ 69. 65. 4. 224 266-15.8% 157 174-1.2% Qatar Doha US $ 66. 69. -3. 286 332-14.1% 19 23-17.5% Saudi Arabia Jeddah US $ 72. 72.. 21 199 5.5% 153 145 5.6% Madina US $ 67. 62. 5. 133 129 2.7% 9 81 1.8% Makkah US $ 76. 66. 1. 186 185.8% 142 123 15.4% Riyadh US $ 58. 65. -7. 236 27 13.8% 138 135 2.% United Arab Emirates Abu Dhabi US $ 73. 77. -4. 233 326-28.6% 172 253-32.% Al Ain US $ 7. 69. 1. 163 161.9% 114 112 1.3% Dubai - Beach US $ 81. 83. -2. 299 36-2.3% 245 256-4.6% Dubai - City US $ 75. 7. 5. 184 219-16.% 138 153-1.% Dubai - Overall US $ 77. 74. 3. 214 243-11.8% 166 181-8.5% 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
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