Region’s hotel revenue expected to reach $25 bln by 2016

Region’s hotel revenue expected to reach $25 bln by 2016:

"The estimated room revenue for the year 2011 stands at $ 17.83 Bn which is expected to reach $ 24.92 Bn by 2016 at a CAGR of 6.93.  The average occupancy rate for GCC is estimated to be 68% for the year 2012 and expected to reach an average occupancy of 73% by 2016.
The GCC is home to high percentage of luxury hotels and its pipeline is also dominated by many high profile projects. As such, the Average Daily Rent (ADR) for the year 2012 is estimated at $ 204 which is relatively on the higher side in comparison with other regions. While issues like political unrest and oversupply affected the OR and ADR in the past, the forecast for both these metrics is positive with increasing business as well as leisure tourist demand."

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