Dear Omagine Investors,

Oman is by far the most improved destination throughout the MENA region in 2008 reported MKG Hospitality, a leading market research firm.

See this report released today:

MENA hotels strong, but hoteliers take note | MKG Reports

Regards,
AGORACOM

MENA hotels strong, but hoteliers take note | MKG Reports

Oman is by far the most improved destination throughout the Middle East & North Africa (MENA) region in 2008, recording a remarkable 34% Revenue per Available Room (RevPAR) increase.

According to end of year results released by MKG Hospitality’s market monitoring database, Hotel Compset, Oman’s excellent performance was fuelled by a major growth of almost 40% in Average Daily Rate (ADR). Jordan was not so far behind, with a 26% growth in RevPAR, driven by a 17% increase in ADR and an 8.4% rise in Occupancy Rate (OR). Egypt, Qatar, Bahrain, Algeria and Tunisia also all recorded good results.

Overall however, Qatar recorded the highest RevPAR at $223, followed by the UAE at $211 and then Oman and Bahrain, almost equal at $164.

“However much the tourism sector has held up in 2008, and indeed it has resisted the downturn far better than other industries, the economic downturn will start to take its toll in the coming months, as consumers and companies alike continue to cut back on travelling expenses,” stated Director of Development, MKG Hospitality, Vanguelis Panayotis.

To read the full article: http://www.hospitalitynet.org/news/1...