Marriott International reports 8.1% RevPAR increase

Marriott International on Monday announced that full year RevPAR earnings in 2013 for the Middle East and Africa (excluding Egypt) have increased by 8.1 per cent year on year (YOY) for managed comparable units.

These improvements are being driven by ADR growth of 6.6 per cent and a slight improvement in occupancy of 0.9 per cent. However in Q4, RevPAR declined three per cent YOY. This is driven by an improved 1.2 per cent ADR and a decline in occupancy by 1.3 per cent.

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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 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.