Abu Dhabi hotels registered the lowest profit among the GCC market for the month of September 2012, according to the latest Hotstats by TRI Consulting survey of full service hotels in seven MENA cities comparing September 2012 to the same period last year. Abu Dhabi’s hotel market appeared “stagnated” as performance indicators declined significantly in comparison with September of last year, the report said. 70% of Abu Dhabi hotels are ranked 4 and 5 star.
ARR decreased 10.6% to US $124.28, and occupancies dropping 0.2 percentage points to 65.5%. Revenue per Average Room (RevPAR) decreased 10.9% to $81.37, and TRevPAR dropped 7.7% to $188.93.
The continued pressure on average rates coupled with a proliferation of competition depleted GOPPAR by 18.2% to $56.78, the lowest registered profit in the GCC for the month.
Meanwhile, hotels in Dubai showed strong profitability throughout the month of September this year, although the market witnessed a 2.8 percentage point decrease in occupancy. Average Room Rates (ARR) in the city increased by 3.9% to $218.30, while Total Revenue per Available Room (TRevPAR) grew 2.7% to $311.59, the report revealed.