Aug 01 2014
JEDDAH – Strong performances in the UAE, Bahrain and Saudi Arabia for Marriott International helped to offset lower results from its hotels in Egypt in the second quarter of the year. The company financial release for the three months to the end of June showed total net income of $192 million, up 7 percent year-on-year, from revenues of $3.5 billion, up from $3.3 billion during the same period in 2013.
Systemwide, revenue per available room (RevPAR) was up 5.8 percent to $116.63, while occupancy was up 1.7 percentage points to 77.0 percent. Meanwhile, the average daily rate (ADR) was up 3.5 percent to $151.39.
In the Middle East Africa, RevPAR was up 4.9 percent to $116.06, occupancy up 2.1 percentage points to 63.4 percent and ADR up 1.5 percent to $183.10.
Marriott International CFO and executive vice president Carl Berquist said: “In the Middle East and Africa, RevPAR increased 4.9 percent, a bit ahead of our expectation.”
“Year-over-year, strong results in Bahrain, the UAE and Saudi Arabia offset lower results in Egypt. For the full year, we expect our comp hotels in the Middle East and Africa region to increase RevPAR at a mid-single-digit rate, reflecting easier comps for Egypt later in the year.”
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