Middle East Hotel Benchmark Survey January 211
Introduction Introduction Ernst & Young We hope you enjoy the January 211 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 141, 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 Abu Dhabi Hotels Occupancy % January 21 - January 211 9 8 7 7 76 79 76 73 71 69 69 83 84 8 76 6 61 Occupancy % 5 4 3 2 1 Makkah Hotels (US$) January 21 - January 211 7 646 6 572 598 5 4 3 2 18 211 18 192 157 162 217 255 185 215 1 Rev PAR in Muscat Hotels (US$) Room Yield January 21 - January 211 25 2 22 Room Yield 15 1 141 182 178 171 152 134 117 177 176 164 82 77 5 Ernst & Young 3
% Occupancy Dubai - Overall Hotels Occupancy % January 21 - January 211 1 9 8 76.7 89.1 82.5 79 77.4 78 87.3 82 82 Occupancy % 7 6 5 4 68.6 68.5 56.1 65.3 3 2 1 Dubai - Overall Hotels (US$) January 21 - January 211 3 25 245 248 247 252 25 262 231 245 2 15 1 186 154 15 144 177 5 Rev PAR in Dubai - Overall Hotels (US$) Room Yield January 21 - January 211 25 22 228 2 188 23 199 195 189 21 Room Yield 15 1 144 15 13 115 81 5 4 Ernst & Young
Monthly Performance: 1/211 Currency: Local Occupancy Rooms Yield Bahrain Currency 211 21 Change in 211 21 Change 211 21 Change % % % Points Manama BHD 55. 58. -3. 11 98 2.7% 56 57-2.% Egypt Cairo - City EGP 66. 71. -5. 7 655 6.8% 467 468 -.2% Cairo -Overall EGP 67.2 7. -2.7 79 659 7.6% 477 461 3.4% Hurghada EGP 79. 77. 2. 28 238 17.8% 222 183 21.% Sharm El Shaikh EGP 67. 8. -13. 45 338 19.9% 273 273.1% Jordan Amman JOD 5. 48. 2. 13 14-1.1% 51 5 2.5% Kuwait Kuwait KWD 55. 52. 3. 77 76 1.% 43 4 6.% Lebanon Beirut LBP 44. 64. -2. 333,579 375,866-11.3% 149,97 243,97-38.3% Oman Muscat OMR 75. 68. 7. 83 79 5.4% 63 54 16.2% Qatar Doha QAR 73. 6. 13. 1,15 1,8.6% 745 612 21.8% Saudi Arabia Jeddah SAR 66. 69. -3. 729 732 -.4% 486 58-4.3% Madina SAR 33. 46. -13. 541 495 9.3% 183 229-19.8% Makkah SAR 65. 57. 8. 85 675 19.2% 529 387 36.8% Riyadh SAR 59. 56. 3. 91 885 1.8% 54 54 7.2% United Arab Emirates Abu Dhabi AED 76. 7. 6. 943 1,137-17.% 724 797-9.2% Dubai - Apartments AED 83. 82. 1. 452 458-1.3% 376 378 -.6% Dubai - Beach AED 82. 73. 9. 1,361 1,347 1.1% 1,12 992 12.9% Dubai - City AED 81. 77. 4. 697 722-3.4% 57 561 1.5% Dubai - Overall AED 82. 76.7 5.3 9 91 -.1% 738 691 6.8% 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: 1/211 Currency: US $ Occupancy Rooms Yield Bahrain Currency 211 21 Change in 211 21 Change 211 21 Change % % % Points Manama US $ 55. 58. -3. 267 26 2.7% 148 151-2.% Egypt Cairo - City US $ 66. 71. -5. 121 114 6.8% 81 81 -.2% Cairo -Overall US $ 67.2 7. -2.7 123 114 7.6% 83 8 3.4% Hurghada US $ 79. 77. 2. 49 41 17.8% 38 32 21.% Sharm El Shaikh US $ 67. 8. -13. 7 59 19.9% 47 47.1% Jordan Amman US $ 5. 48. 2. 146 147-1.1% 73 71 2.5% Kuwait Kuwait US $ 55. 52. 3. 264 261 1.% 146 138 6.% Lebanon Beirut US $ 44. 64. -2. 22 248-11.3% 99 16-38.3% Oman Muscat US $ 75. 68. 7. 216 25 5.4% 164 141 16.2% Qatar Doha US $ 73. 6. 13. 279 277.6% 25 168 21.8% Saudi Arabia Jeddah US $ 66. 69. -3. 194 195 -.4% 13 135-4.3% Madina US $ 33. 46. -13. 144 132 9.3% 49 61-19.8% Makkah US $ 65. 57. 8. 215 18 19.2% 141 13 36.8% Riyadh US $ 59. 56. 3. 24 236 1.8% 144 134 7.2% United Arab Emirates Abu Dhabi US $ 76. 7. 6. 257 31-17.% 197 217-9.2% Dubai - Apartments US $ 83. 82. 1. 123 125-1.3% 12 13 -.6% Dubai - Beach US $ 82. 73. 9. 371 367 1.1% 35 27 12.9% Dubai - City US $ 81. 77. 4. 19 196-3.4% 155 153 1.5% Dubai - Overall US $ 82. 76.7 5.3 245 245 -.1% 21 188 6.8% 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: 1/211-1/211 Currency: Local Occupancy Rooms Yield Bahrain Currency 211 21 % % Change in % Points 211 21 Change 211 21 Change Manama BHD 55. 58. -3. 11 98 2.7% 56 57-2.% Egypt Cairo - City EGP 66. 71. -5. 7 655 6.8% 467 468 -.2% Cairo -Overall EGP 67. 69. -2. 79 659 7.6% 477 461 3.4% Hurghada EGP 79. 77. 2. 28 238 17.8% 222 183 21.% Sharm El Shaikh EGP 67. 8. -13. 45 338 19.9% 273 273.1% Jordan Amman JOD 5. 48. 2. 13 14-1.1% 51 5 2.5% Kuwait Kuwait KWD 55. 52. 3. 77 76 1.% 43 4 6.% Lebanon Beirut LBP 44. 64. -2. 333,579 375,866-11.3% 149,97 243,97-38.3% Qatar Doha QAR 73. 6. 13. 1,15 1,8.6% 745 612 21.8% Saudi Arabia Jeddah SAR 66. 69. -3. 729 732 -.4% 486 58-4.3% Madina SAR 33. 46. -13. 541 495 9.3% 183 229-19.8% Makkah SAR 65. 57. 8. 85 675 19.2% 529 387 36.8% Riyadh SAR 59. 56. 3. 91 885 1.8% 54 54 7.2% United Arab Emirates Abu Dhabi AED 76. 7. 6. 943 1,137-17.% 724 797-9.2% Dubai - Beach AED 82. 73. 9. 1,361 1,347 1.1% 1,12 992 12.9% Dubai - City AED 81. 77. 4. 697 722-3.4% 57 561 1.5% Dubai - Overall AED 82. 76. 6. 9 91 -.1% 738 691 6.8% 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: 1/211-1/211 Currency: US $ Occupancy Rooms Yield Bahrain Currency 211 21 % % Change in % Points 211 21 Change 211 21 Change Manama US $ 55. 58. -3. 267 26 2.7% 148 151-2.% Egypt Cairo - City US $ 66. 71. -5. 121 114 6.8% 81 81 -.2% Cairo -Overall US $ 67. 69. -2. 123 114 7.6% 83 8 3.4% Hurghada US $ 79. 77. 2. 49 41 17.8% 38 32 21.% Sharm El Shaikh US $ 67. 8. -13. 7 59 19.9% 47 47.1% Jordan Amman US $ 5. 48. 2. 146 147-1.1% 73 71 2.5% Kuwait Kuwait US $ 55. 52. 3. 264 261 1.% 146 138 6.% Lebanon Beirut US $ 44. 64. -2. 22 248-11.3% 99 16-38.3% Qatar Doha US $ 73. 6. 13. 279 277.6% 25 168 21.8% Saudi Arabia Jeddah US $ 66. 69. -3. 194 195 -.4% 13 135-4.3% Madina US $ 33. 46. -13. 144 132 9.3% 49 61-19.8% Makkah US $ 65. 57. 8. 215 18 19.2% 141 13 36.8% Riyadh US $ 59. 56. 3. 24 236 1.8% 144 134 7.2% United Arab Emirates Abu Dhabi US $ 76. 7. 6. 257 31-17.% 197 217-9.2% Dubai - Beach US $ 82. 73. 9. 371 367 1.1% 35 27 12.9% Dubai - City US $ 81. 77. 4. 19 196-3.4% 155 153 1.5% Dubai - Overall US $ 82. 76. 6. 245 245 -.1% 21 188 6.8% 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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