MENA House View - May 2009. Jones Lang Lasalle
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MENA House View - May 2009

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MENA Hotel Market - Focus on Fundamentals
The May edition of our MENA House View considers the impact of the global economic slowdown on hotel markets across the region.  The main findings can be summarised as follows:
  • Achieving sustainable levels of performance. 2009 is likely to see a contraction of hotel cash flows, with performance returning to long-term sustainable levels in line with other regions around the globe;

  • MENA markets remain relatively healthy compared with other regions. While most markets across MENA have seen a contraction in hotel earnings and asset pricing over the past 6 months, performance has held up relatively well compared with other global regions;

  • Declining levels of new supply. Planned developments are being reviewed across the MENA region, with many being either cancelled or delayed. Many projects are likely to be refocused from their current high end positioning, to incorporate a broader tourism offering in line with other established tourism destinations. Lower cost hotels are likely to comprise the majority of newly planned projects.

 
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