Ernst & Young Reports Bahrain Hotels Top List of Largest Increase in Revenue per Available Room
MANAMA, Bahrain, July 12, 2012 /PRNewswire-USNewswire/ — Bahrain’s hotel industry tops list of global revenue earners in the Middle East/North Africa region according to the latest report issued by Ernst & Young. Hotels in Manama reported a 52.1 percent increase in revenue per available room (RevPAR) for the first five months of 2012 as reported by Ernst & Young’s Middle East Hotel Benchmark Survey for May 2012.
Manama hotels also saw sustained increased in occupancy rates at 14 percent growth. This growth signals sustained growth during the peak vacation season in the Middle East.
According to GulfNews.com, partner and head of MENA transaction real estate at Ernst & Young, Yousuf Wahbah, remarked “Bahrain witnessed a period of stabilization with year on year occupancies rising from 16 percent in May 2011 to 39 percent in May 2012.” This growth is expected to sustain through the remaining quarters of 2012 and into 2013.
The full report produced by Ernst & Young is available here.
SOURCE Kingdom of Bahrain