Marriott RevPAR up 8.1% in region
Marriott International said its 2013 revenues per available room (RevPAR) rose 8.1 per cent year-on-year in the Middle East and Africa (excluding Egypt).
These improvements are being driven by average daily rate (ADR) growth of 6.6% and a slight improvement in occupancy of 0.9%. However in Q4, RevPAR declined 3% YoY. This is driven by an improved 1.2% ADR and a decline in occupancy by 1.3%.
Commenting on the organizations MEA results in 2013, Alex Kyriakidis, President and Managing Director of Marriott International, Middle East and Africa, said: “The hospitality industry in the region is full of opportunity at the moment and we’re in a good position to capitalize on it. Throughout the year Marriott International has succeeded in expanding its footprint and our growing portfolio is reflecting positively in our results.”
With reference to the dip in Q4 figures, Kyriakidis added: “Egypt remains a challenging market for the industry as a result of the on-going political instability. However, we have confidence in the markets ability to bounce back and we remain committed to the Egyptian travel industry.”
In MEA, the company currently has a regional presence consisting of 47 properties in 12 countries, offering 13,868 rooms and spanning seven lodging brands. At the end of 2013 Marriott International had a total of 45 announced properties that are scheduled to join the company’s portfolio by 2018, adding 10,777 rooms to the Marriott International system.
At the start of 2014 Marriott International announced it had signed a definitive agreement with South Africa’s Protea Hospitality Holdings for the purchase by Marriott of Protea’s three brands and Management Company. Protea has 116 hotels with 10,148 rooms in seven African countries including South Africa. At closing, Marriott will become the largest hotel company in the Middle East & Africa region, nearly doubling its distribution there to more than 23,000 rooms.
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