Middle East Hotel Benchmark Survey September 21
Introduction Introduction Ernst & Young We hope you enjoy the September 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 % September 29 - September 21 1 Occupancy % 9 8 7 6 4 88 91 91 66 77 88 9 94 84 73 87 81 89 3 2 1 Sharm El Shaikh Hotels (US$) September 29 - September 21 9 8 79 7 6 4 3 68 64 61 59 52 61 55 63 68 58 2 1 Rev PAR in Manama Hotels (US$) Room Yield September 29 - September 21 2 2 26 198 19 Room Yield 1 1 92 149 166 19 119 152 134 95 92 128 Ernst & Young 3
% Occupancy Dubai - Overall Hotels Occupancy % September 29 - September 21 1 Occupancy % 9 8 7 6 4 63.4 76 85.7 75.7 77.1 89.1 82.5 79 77.4 68.6 68.5 56.1 65.3 3 2 1 Dubai - Overall Hotels (US$) September 29 - September 21 3 3 289 2 2 1 1 173 257 237 246 248 247 252 186 154 1 144 177 Rev PAR in Dubai - Overall Hotels (US$) Room Yield September 29 - September 21 3 2 247 22 Room Yield 2 1 195 179 19 23 199 144 1 11 15 13 81 115 4 Ernst & Young
Monthly Performance: 9/21 Currency: Local Occupancy Rooms Yield Bahrain Currency 21 29 Change in 21 29 Change 21 29 Change % % % Points Manama BHD 52. 4. 12. 92 86 6.9% 48 35 39.5% Egypt Cairo - City EGP 64. 59. 5. 649 593 9.5% 421 351 2.1% Cairo -Overall EGP 65.3 58.6 6.8 659 69 8.3% 431 356 2.8% Hurghada EGP 89. 88. 1. 241 234 2.9% 215 27 4.3% Sharm El Shaikh EGP 87. 88. -1. 337 291 15.9% 293 258 13.7% Jordan Amman JOD 58. 42. 16. 98 99 -.7% 57 42 36.3% Kuwait Kuwait KWD 49. 38. 11. 71 69 2.8% 35 27 32.2% Lebanon Beirut LBP 53. 62. -9. 42,675 418,27-3.7% 213,823 262,224-18.5% Oman Muscat OMR 45. 38. 7. 65 75-13.6% 3 29 3.4% Qatar Doha QAR 47. 39. 8. 93 921-1.9% 43 366 17.4% Saudi Arabia Jeddah SAR 69. 77. -8. 863 874-1.3% 63 676-1.9% Madina SAR 58. 48. 1. 1,135 1,254-9.5% 662 67 9.% Makkah SAR 62. 54. 8. 2,424 2,1-3.1% 1,51 1,361 11.% Riyadh SAR 41. 32. 9. 814 698 16.6% 337 225 49.7% United Arab Emirates Abu Dhabi AED 69. 68. 1. 64 762-15.9% 443 521-15.% Al Ain AED 69. 77. -8. 8 513 -.9% 355 395-1.2% Dubai - Apartments AED 69. 74. -5. 432 398 8.5% 3 295 1.5% Dubai - Beach AED 67. 74. -7. 848 773 9.7% 575 576 -.1% Dubai - City AED 63. 56. 7. 56 56.1% 356 314 13.4% Dubai - Overall AED 65.3 63.4 1.8 649 635 2.2% 424 43 5.2% 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: 9/21 Currency: US $ Occupancy Rooms Yield Bahrain Currency 21 29 Change in 21 29 Change 21 29 Change % % % Points Manama US $ 52. 4. 12. 244 228 6.9% 128 92 39.5% Egypt Cairo - City US $ 64. 59. 5. 112 13 9.5% 73 61 2.1% Cairo -Overall US $ 65.3 58.6 6.8 114 15 8.3% 75 62 2.8% Hurghada US $ 89. 88. 1. 42 41 2.9% 37 36 4.3% Sharm El Shaikh US $ 87. 88. -1. 58 15.9% 51 45 13.7% Jordan Amman US $ 58. 42. 16. 139 14 -.7% 82 6 36.3% Kuwait Kuwait US $ 49. 38. 11. 243 237 2.8% 121 92 32.2% Lebanon Beirut US $ 53. 62. -9. 266 276-3.7% 141 173-18.5% Oman Muscat US $ 45. 38. 7. 169 196-13.6% 77 75 3.4% Qatar Doha US $ 47. 39. 8. 248 253-1.9% 118 11 17.4% Saudi Arabia Jeddah US $ 69. 77. -8. 23 233-1.3% 161 18-1.9% Madina US $ 58. 48. 1. 33 334-9.5% 176 162 9.% Makkah US $ 62. 54. 8. 646 667-3.1% 43 363 11.% Riyadh US $ 41. 32. 9. 217 186 16.6% 9 6 49.7% United Arab Emirates Abu Dhabi US $ 69. 68. 1. 174 27-15.9% 121 142-15.% Al Ain US $ 69. 77. -8. 138 14 -.9% 97 18-1.2% Dubai - Apartments US $ 69. 74. -5. 118 18 8.5% 82 8 1.5% Dubai - Beach US $ 67. 74. -7. 231 21 9.7% 157 157 -.1% Dubai - City US $ 63. 56. 7. 153 152.1% 97 86 13.4% Dubai - Overall US $ 65.3 63.4 1.8 177 173 2.2% 115 11 5.2% 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: 1/21-9/21 Currency: Local Occupancy Rooms Yield Bahrain Currency 21 29 % % Change in % Points 21 29 Change 21 29 Change Manama BHD 58. 63. -5. 96 96 -.8% 56 61-8.4% Egypt Cairo - City EGP 7. 68. 2. 66 6 1.6% 467 444 5.2% Cairo -Overall EGP 7. 67. 3. 665 654 1.6% 471 444 5.9% Hurghada EGP 85. 78. 7. 249 239 4.2% 212 187 13.2% Sharm El Shaikh EGP 85. 79. 6. 351 317 1.7% 3 253 18.5% Jordan Amman JOD 63. 58. 5. 13 99 3.4% 65 58 11.1% Kuwait Kuwait KWD 52. 53. -1. 75 77-3.2% 4 42-4.9% Lebanon Beirut LBP 68. 71. -3. 396,414 373,898 6.% 27,521 267,597 1.1% Oman Muscat OMR 65. 61. 4. 84 1-15.6% 56 62-1.% Qatar Doha QAR 6. 62. -2. 1,14 1,165-13.% 618 731-15.5% Saudi Arabia Jeddah SAR 72. 74. -2. 82 761 5.3% 583 564 3.3% Madina SAR 67. 59. 8. 641 569 12.8% 433 337 28.3% Makkah SAR 75. 62. 13. 1,33 913 13.1% 779 575 35.5% Riyadh SAR 54. 58. -4. 866 764 13.4% 469 449 4.5% United Arab Emirates Abu Dhabi AED 71. 75. -4. 85 1,114-27.7% 579 836-3.8% Al Ain AED 68. 7. -2. 578 573 1.% 396 42-1.6% Dubai - Beach AED 78. 83. -5. 1,26 1,49-2.2% 89 872-7.2% Dubai - City AED 71. 68. 3. 652 763-14.5% 467 52-1.2% Dubai - Overall AED 73. 73.. 755 846-1.7% 559 619-9.7% 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: 1/21-9/21 Currency: US $ Occupancy Rooms Yield Bahrain Currency 21 29 % % Change in % Points 21 29 Change 21 29 Change Manama US $ 58. 63. -5. 253 256 -.8% 148 162-8.4% Egypt Cairo - City US $ 7. 68. 2. 114 113 1.6% 81 77 5.2% Cairo -Overall US $ 7. 67. 3. 115 113 1.6% 82 77 5.9% Hurghada US $ 85. 78. 7. 43 41 4.2% 37 32 13.2% Sharm El Shaikh US $ 85. 79. 6. 61 55 1.7% 52 44 18.5% Jordan Amman US $ 63. 58. 5. 146 141 3.4% 92 83 11.1% Kuwait Kuwait US $ 52. 53. -1. 257 265-3.2% 136 143-4.9% Lebanon Beirut US $ 68. 71. -3. 262 247 6.% 179 177 1.1% Oman Muscat US $ 65. 61. 4. 219 26-15.6% 145 161-1.% Qatar Doha US $ 6. 62. -2. 279 32-13.% 17 21-15.5% Saudi Arabia Jeddah US $ 72. 74. -2. 214 23 5.3% 155 1 3.3% Madina US $ 67. 59. 8. 171 152 12.8% 115 9 28.3% Makkah US $ 75. 62. 13. 276 244 13.1% 28 153 35.5% Riyadh US $ 54. 58. -4. 231 24 13.4% 125 12 4.5% United Arab Emirates Abu Dhabi US $ 71. 75. -4. 219 33-27.7% 158 228-3.8% Al Ain US $ 68. 7. -2. 158 156 1.% 18 11-1.6% Dubai - Beach US $ 78. 83. -5. 279 286-2.2% 22 238-7.2% Dubai - City US $ 71. 68. 3. 178 28-14.5% 127 142-1.2% Dubai - Overall US $ 73. 73.. 26 23-1.7% 152 169-9.7% 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
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